The Future of Properties in the Metaverse

Everyone from individual users to big corporations is talking about the metaverse. The craze of the metaverse is real, so much so that even Facebook rebranded to Meta to be relevant in the space.

At first, the hype around the metaverse seemed limited to playing games and interacting in virtual reality, but the users are doing much more than just playing games in the metaverse. Along with in-game accessories, users are also purchasing virtual land parcels and estates, with $900,000 being the highest price paid for a virtual plot of land.

Even though the prices are increasing over time, so is the interest of individuals, real estate companies and other corporations on the virtual plots. Represented by coordinates in the metaverse, these properties offer various use cases, and the possibilities are endless. For example, these could be vacant pieces of land where creators can build on or structures that mimic real-life properties.

Many experts in the traditional finance and real-estate world have criticized the amount of money being spent on virtual properties in the metaverse, calling it bizarre to invest in a property that people cannot actually live in. In contrast, many other companies are bullish on the metaverse and have started offering products that align with their interest in the metaverse. For instance, many metaverse real estate companies like metaverse Property have been set up to secure land and properties in the virtual real estate space. Moreover, companies like Sotheby’s are looking to secure land pieces to set up art galleries and museums where they can showcase their NFTs.

Loot NFT and Lootverse

While all this reflects the demand for properties in the metaverse, what about the supply? Introducing Loot NFT and Lootverse. Even in a dynamic space like the metaverse, Lootverse offers something unique when it comes to the real estate aspect.

Lootverse attempts to blur the line between fantasy and reality in the metaverse, offering an incredible virtual world that consists of 4,880 plots ready to be occupied. By becoming a member of Lootverse, property owners – or Lootizens – can develop their plots and receive benefits by participating as a Lootizen.

Moreover, in the future, Lootverse will be accessed through a tablet, known as X, that enables property owners to remotely access Lootverse and thus, act like a Stargate. Through this hardware solution, Lootizens can connect to an alternate reality of Loot NFT and explore it remotely.

Beyond the offering of a virtual land full of possibilities, Lootverse goes one step ahead and aims to evolve its platform to connect the metaverse to the real world by enabling users to visit physical land, which essentially acts as a gateway between Lootverse and Earth. This feature is already being developed to be presented to users in the coming years.

The future of properties lies in the metaverse, and with revolutionizing features and concepts unlike any other in the space, Lootverse is ready to become the hub for virtual property development. However, to truly understand the potential of virtual properties and how Lootverse can play an integral role in shaping the future, one needs to experience interacting with its blockchain-powered virtual world.

About Loot NFT

Loot NFT, is a gamified auction platform, where members are able to bid in a “Battle Bidding” auction environment for NFTs. All participating members in the arena mine Loot Tickets (LTT) using bid units (BUN), a token that has a limited supply of 500 million. Each NFT embodies a one-of-one unique creation (digital or digital and physical), and grants ownership to the member that wins it at auction. Loot NFT also aims to make the NFT space more inclusive and diverse, giving access to creators and members to original NFT collectibles and an amazing world designed to leverage the metaverse to an enhanced alternative reality.

Loot NFT’s adventure-themed world has 4,880 plots and allows plot owners to tell the story of their land by minting up to 4 NFTs on each plot, while also sharing in the revenue from the entire ecosystem. Owners may purchase from this metaverse using their LTT in Loot NFT’s auction environment called Satoshi’s Lounge. Loot NFT uses a bi-directional bridge between its permissioned-blockchain and public blockchains to decentralize the modules of its ecosystem towards a decentralized autonomous organization. For more information, visit the website: lootnft.io