NFTeacher

Why Is Metaverse Land Valuable?

Metaverse land has been a hot topic lately but most people don’t know why acquiring land in the metaverse is valuable. There are a ton of monetary advantages that come with owning land in a popular metaverse platform.

 

In this piece I am going to go over 3 reasons why you should acquire land in the metaverse. In addition I am going to speak on the metaverse platforms that I feel are worth owning land inside of.

1. Branding

Metaverse branding is important and having a web3 presence inside of the metaverse will help you legitimize your web3 efforts. Having a metaverse headquarters is a great way to build trust with your potential community. Projects who usually build HQs in the metaverse don’t rug pull because of the amount of money required to invest in one. 

ZED Run has an HQ in Decentraland as well as Opensea and Atari. As more brands acquire land to position themselves in the metaverse, the platforms will grow. If you want to brand yourself effectively in the metaverse I recommend buying land and and building a headquarters.

2. Onboarding

In order to sell an NFT to someone they have to understand how to buy one. Marketing research has shown that for every step you add to the onboarding process you lose 20% of your potential users. So that means if it takes 3 steps to purchase your product, you’ve lost 60% of your potential sales. Purchasing something in web3 requires a minimum of 10 steps for someone who has never owned a crypto wallet. 

Owning land in the metaverse positions your brand in front of users who have already completed half of the steps required by default. Metaverse inhabitants already have crypto wallets, they know how to purchase NFTs, and they most likely will have crypto ready to spend. 

3. Marketing

Metaverse products can be sold easier if they are marketed inside of the metaverse. Decentraland and Somnium Space have event promotion tools that can be used by anyone on the platform. If you publish an event on the Decentraland events page, everyone looking for DCL events will see your promotion. This is the best free marketing that you can get in the metaverse. The only catch is that in order to schedule a dope event you need to have access to someone’s land, or  have your own.

Where to buy land?

I only suggest buying land in battle tested metaverse platforms that have stood the test of time. My top picks are: Decentraland, Somnium Space, and The Sandbox. These platforms all have native tokens that their parcels are priced in. The NFTeacher campus is located in Decentraland. Check it out if you have free time.