Anyone with some money to invest or a decent credit score can now scout and purchase properties all around the country and earn passive income without ever actually setting foot in the location of their investment. The geographic barriers that once prevented investors from expanding across the country without the infrastructure of a major corporation have now been broken down thanks to the internet.
Virtual real estate software#
This means utilizing real estate software to scout deals, finance projects, analyze the numbers, and make purchases all from the comfort of your own home.
This article was first published in South China Morning Post.Virtual real estate investing doesn’t refer to the purchase of digital land or property, it refers to the practice of buying physical real estate anywhere in the country, using online tools. Its previous season in March, which offered 35 experiences, attracted more than 325,000 players, The Sandbox said on Thursday (Aug 19). Yat Siu, co-founder and executive chairman of Animoca Brands, previously told the Post that restricting access to specific time periods ensures “the server can scale and do certain things”, as the company works towards fully opening up The Sandbox.
Virtual real estate for free#
Prices for its Otherdeed virtual lands – part of the company’s Otherside metaverse platform – have more than halved since May, when the NFT collection garnered so much demand that initial sales overwhelmed the Ethereum blockchain, sending transaction fees soaring.ĭespite deflating digital assets, The Sandbox is betting on a longer window for the new season to draw in users, promising “new content each day”.Īnyone can register and play for free until the season wraps up, the company said. Virtual land prices have also plummeted for Yuga Labs, the creator of the massively popular Bored Ape Yacht Club NFT collection. On The Sandbox, the average number of weekly virtual land sales were around 100 in August, down from more than 1,000 last November, according to WeMeta. However, their nominal ether prices have also fallen.Īs prices have come down, so has the number of sales. The drastic loss of value in fiat currency is in part due to a drop in the value of ether, the cryptocurrency for the Ethereum blockchain, on which the virtual land NFTs are traded. Virtual land sales fell below US$5,000 this month, down from US$30,000 in late November.
On Decentraland, another popular blockchain gaming platform, the trend has been the same. The average sale for a plot of land in The Sandbox has hovered around US$5,000 (S$6,934), according to data from market tracker WeMeta, just a quarter of the US$20,000 that land was commanding from Nov 2021 to Jan 2022. The Sandbox’s new offerings come amid subsiding interest in metaverse real estate, as the prices of digital assets have taken a beating this year from plunging cryptocurrency prices. The platform will offer 98 different “experiences”, allowing players to earn NFTs by playing various mini games. The latest season is the largest yet, starting August 24 and running for 10 weeks. The Sandbox is only available to play during designated “seasons”, which until now have typically lasted about a month. The game, owned by Hong Kong unicorn Animoca Brands, bills itself as an immersive metaverse platform that lets players own and trade their in-game assets, including virtual land sold as non-fungible tokens (NFTs). The Sandbox, the blockchain gaming platform that was one of the major contributors of last year’s virtual real estate boom, is launching a new season next week, as the value of virtual lands plunge amid a persisting crypto market slump.
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