Virtual real estate is exactly what it sounds like-property that you can purchase in a virtual world. You are purchasing virtual property with real money that has been converted into cryptocurrency to complete the transaction.
People also ask
What is virtual real estate investing?
Virtual real estate investing means using real estate investment software to do property research and investment property analysis, and ultimately, buy investment property. It is essentially remote real estate investing, an alternative to the traditional approach where you would physically go to showings.
Can you buy virtual real estate online?
The virtual real estate that can be bought and sold does not exist in our physical world but it does in the online world. Many may think this sounds utterly ridiculous and useless, but many people said that about the internet, which was about virtualizing information. Why buy virtual real estate if they just make more of it?
Why is real estate so valuable in virtual worlds?
Because there is a limited amount of land, real estate becomes very valuable, especially in highly populated areas. How can virtual real estate ever be valuable if there will always be a limitless supply? Well, the easy answer is that there is not a limitless supply in many virtual worlds.
How will virtual reality affect the real estate market in 2020?
By 2020, virtual reality and augmented reality are predicted to rake in an estimated $162 billion in revenue. So, naturally, if there real estate to be had (even if it virtual), people will pop up to buy and sell it.