We are entering the era of Web 3.0 and the Metaverse, a linked virtual world, as the digital environment changes. Our daily lives will soon be lived in new levels of online space as we use this area for socializing, working, and learning. Real estate is just as valuable online as it is sailing in this type of virtual environment, where investing and generating money are both possible.
Decentraland and Sandbox are two well-known and reputable online communities specifically for virtual real estate.
Let’s have a glimpse of Decentraland and Sandbox and you can even have a detailed study on how much does it costs.
Sneak Peak of Decentraland
Decentraland, which debuted in 2017, is the forerunner of real estate and property in the Metaverse. Users are able to buy land or portions of land within the virtual environment in this fully realistic 3D metaverse. A variety of virtual experiences, like as casinos, concerts, gaming, and art galleries, are available in this actual land.
Sneak Peak of Sandbox
When The Sandbox was initially established in 2012, it was a 2D mobile game that was based on the Ethereum blockchain. However, in 2017, the 2D game transitioned to a 3D game. After being purchased by renowned Hong-Kong-based software firm Animoca Brands in 2018, the business has since developed into one of the most reputable and well-liked metaverse platforms accessible.
Investors might find real estate and property possibilities in both Decentraland and The Sandbox. When choosing between the two platforms, however, there are several distinctions that must be taken into account.
Let’s look at the differences between these two metaverse platforms before we get into how much land costs there.
Decentraland Vs Sandbox
Users of the Ethereum-based virtual environment Decentraland may explore and make money off of their own applications and content. Players may buy or rent properties in the Sandbox, which is also developed on the Ethereum platform. This emphasizes how decentralized the platforms are; yet, what sets these two metaverse universes apart is their blockchain technology.
Users of Decentraland are able to buy land, a non-fungible digital asset. An Ethereum-based Mart Contract or Ethereum cryptocurrency is used to do this. The technology, which was created using the Ethereum blockchain, enables the recording of land ownership as digital assets.
The Sandbox, in contrast, makes use of blockchain technology to guarantee user-generated content and the ability to connect numerous pieces of land to build an estate. It is also crucial to remember that it is a limitless place since it depends on the imagination of its users or participants.
Cost of Decentraland
- 9438 streets, 3588 plazas, 43689 individual property parcels, 33886 district lands, and 90,601 total lands are available.
- Each land now has a 16 m x 16 m square area instead of the previous 10 m x 10 m.
- The highest-ever land sale involved 2,000,000 MANA, the ERC20 fungible crypto currency token used by Decentraland. MANA is used to buy and sell lands.
- Between less than 500 USD to more than 3000 USD, the average price of land has increased
- In Decentraland, the least expensive land costs 3487 MANA.
Cost of Sandbox
- There are 166,464 land plots in The Sandbox that may be purchased for a minimum of 3.2 ETH, or around $9900.
- The $LAND governance token, which is used to buy NFTs in the Sandbox, is used for this purpose.
- The coin costs around $4.75.
- A standard block of property in The Sandbox sold for $30,000 in January 2022.
- In general, LAND prices rise with time, so it’s critical to keep an eye out for any chances to invest in the area.
- Invest your Business in Digital Land
Apart from the Decentraland and Sandbox, some well-known examples of contemporary live metaverse projects are Axie Infinity, Horizon World, Roblox, and more. The designers of these platforms make extensive use of metaverse technologies including blockchain, encryption, and NFTs.
Leading tech futurists predict that the metaverse will benefit from a number of new technologies in the future, enabling the development of several useful use cases that will boost the metaverse’s ability to offer real-life functioning. As a result, the price of developing the metaverse will alter over time based on how people use it in their daily lives and companies.
Please get in touch with us if you need help in developing a metaverse project or would like to improve one that is already in progress or to build your own virtual venue. We are happy to discover more about the specifications for your project. Let’s have a quick at short demo of our metaverse platform – TheGrand.Space.