Hi hivers, Faiz is here, and if you are looking for the information regarding virtual real estate and meraverse development, then you have landed in the correct place. Owning virtual space is a great concept, and it is becoming more important as the digital world expands. NFTs are playing a vital role here, and it is going to be a very useful aspect in the meraverse because they are digital proof of your ownership. This means that if you own something digital, then an NFT can be proof of that. In the virtual world, NFTs are going to be ownership proof of almost all things that are going to be used in the virtual world.
Real estate in the real world is a great example of that, and here we are not talking about traditional real estate, but virtual real estate, which exists in the digital world. When it comes to virtual real estate, NFT comes in. The sandbox, Decentraland, and there are other platforms are powered by blockchain and they have virtual lands. Tokenizing daily life things and these things will become digital assets that we call NFTs, in other words. These NFTs are easily tradable, available for buy, sell, and rent, and also ability to develop. There are many unthinkable possibilities along with the art galleries, virtual stores, events, games, virtual vehicles, and, as I said, lands and properties.
Wanna claim space in the meraverse as a developer or creator, then there is a secure and transparent way available. So now you can imagine the urban planning in this digital world. Just imagine there is a city that is designed for education, and another city is specially built or designed for business, and all these things will be based on blockchain technology. NFTs are used to tokenize things, and as a currency, there is crypto.
You will be amazed to hear that the Gucci and adidas companies have already established their presence, and the aim is marketing, engagement, and commerce. In some digital platforms, there are metaverses that digital plots have already and it depends on the place value and according to brand value. As we have seen in the real world that plots located on roads have a higher price in the market, so highways determine the value of land.
Risk is there in this world, and that risk is the volatility of NFTs, and already there is unclear and difficult regulation, also there a technological issues. A long-term vision is needed for the developers and investors.
Digital assets can be owned, traded, monetized, and it can be developed, and it is because of the non-fungible token and it is a foundation. Now let's wait for the future. Make sure you have shared this greatest information among the other people, and for that, use web 2 social media and use proper tags when you share. I am looking forward to seeing your comments too. Now Faiz is signing off.
