Virtual Land News

Virtual land is a plot of land existing in the metaverse that may utilize blockchain technology. In cases when there is a blockchain-powered economy, virtual land is purchased using cryptocurrencies and digital plots are represented as nonfungible tokens (NFTs) on one of the metaverse platforms, making them distinct, tradable digital assets with blockchain-recorded ownership.

In virtual worlds, a user’s starting point for in-world activities is virtual plots of land. The digital representations of these plots — i.e., NFTs — are used to facilitate secondary market trade. Axie Infinity, Decentraland and The Sandbox are just a few examples of blockchain-based games that sold their finite virtual lands to major corporations and investors. 

Virtual lands could also integrate current virtual reality (VR) and augmented reality (AR) technologies to offer consumers an enhanced realistic, immersive experience. This might introduce a brand-new form of entertainment we previously believed was only feasible in films.