In this shared virtual space known as metaverse land, real estate is purchased through virtual real estate platforms. It’s possible to buy everything from land parcels to structures. There is limited availability, which often results in competitive bidding amongst buyers. Purchases involve non-fungible tokens, or NFTs, that act as real deeds, and the blockchain serves as a registry, providing a record of the transaction. Once a metaverse land sale is concluded, owners can sell, rent, or build on their virtual property.
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