Cryptopia

While virtual real estate has become more popular now thanks to the advent of non-fungible tokens (NFTs) and the <a href="https://coinmarketcap.com/community/articles/63f8a058cf35b55d1cf306c0/" rel="noopener noreferrer nofollow">metaverse</a>, it’s actually been around for decades. In fact, it has evolved throughout the different eras of the internet. From the text-based era, to the graphical era, to the current blockchain era, virtual real estate <a href="https://medium.com/&#64;jeran.miller/the-evolutionary-history-of-virtual-real-estate-efc56afa10cd" rel="noopener noreferrer nofollow">has survived and is here to stay</a>.“Now, to be clear, this is not to say that possession and profit are what virtual real estate is all about. Rather, people have most typically wanted it for self-expression and status within their virtual environments. The argument I’m making here is simply that these are two of the primary forces that have shaped its changes through history. I may be belaboring the evolution analogy at this point, but we can all agree the human species is much more than its capacity to just survive and reproduce. However, the increase in this capacity is what has guided human evolution, just as the increase in virtual real estate’s capacity for ownership and monetization has directed its own.”“These desires are probably built into us as a species, and if so, we will carry them with us wherever we go — even into digital spaces. This is precisely why virtual real estate has had persistent appeal. Prices may fall — or even plummet as they have this year — but virtual real estate will carry on regardless. To dismiss it as ‘just a fad’ or ‘only hype’ is to not see it for what it is: a long-standing and growing part of humanity’s virtual landscape.”This is a fascinating look at the different motivations of gamers who want to own virtual real estate. The biggest change that the blockchain era of virtual real estate has introduced is that ownership no longer belongs to the game developer, but rather to the player that has purchased the virtual land.For instance, the blockchain-based metaverse game and virtual city-state Cryptopia offers the <a href="https://cryptopia.com/game/" rel="noopener noreferrer nofollow">Tycoon mode of gameplay</a>. As Tycoons, players with funds can acquire Title Deeds (virtual property NFTs) and build their business empire, allowing them to excel further in Cryptopia.Another example is the metaverse game <a href="https://www.digitallifeasia.net/genso-online-15-year-old-metaverse-game-promotes-ugc-to-earn/" rel="noopener noreferrer nofollow">GensoKishi Online</a> (GENSO Online), which is constructed by LAND. Owned by different companies, LAND is the virtual real estate in the GENSO Online metaverse, and players can create 3D NFTs called UGC, such as buildings, items, and avatars, in order to build a variety of <a href="https://genso.game/pdf/LAND_UGC_Mall_MarketPlace_EN.pdf" rel="noopener noreferrer nofollow">user-generated content and activities</a>.As you can see, it’s not only the virtual land itself that is valuable, but also — and perhaps more so — the different experiences and businesses that can be <a href="https://www.euronews.com/next/2022/11/09/why-metaverse-real-estate-is-selling-for-millions" rel="noopener noreferrer nofollow">built on virtual real estate</a>.“Real estate in the metaverse — land or structures in a virtual environment — is, in reality, nothing more than pixels on a computer screen, but its value is rising.”“Virtual land can be built upon to create experiences that lend themselves to advertising, marketing, socialising, and entertainment. The type of properties that are being built in this virtual environment includes corporate headquarters, billboards, and casinos where games can be played online by 3D avatars. The value of each plot of land depends on the experience it provides, as well as other factors, such as collectability, platform popularity, and market sentiment.”As already mentioned, however, it is not only possession and profit that drives players to desire virtual real estate. Gamers are also motivated by the desire for self-expression and status in the virtual worlds to which they belong. For instance, think of how <a href="https://www.animal-crossing.com/new-horizons/" rel="noopener noreferrer nofollow">Animal Crossing: New Horizons</a> players spend countless hours on their Nintendo Switch to build and decorate their homes and terraform their islands.NFTs, however, are changing the landscape by not only addressing the needs of gamers, but also empowering them. No longer are they just spending time, effort, and money on in-game items that have no value outside the game. Instead, they can now own these digital assets, collecting them and even trading them with other players. They can acquire <a href="https://coinmarketcap.com/community/articles/644b8667fec63d16dc58e86c/" rel="noopener noreferrer nofollow">digital currency inside the game</a> and use it in the real world.Not only that, but since NFTs are smart contracts, they can be programmed with different utilities and <a href="https://coinmarketcap.com/community/articles/64521fb90d1ac45ba873d3e9/" rel="noopener noreferrer nofollow">rewards for the community</a>. This shows how virtual real estate has truly evolved in the blockchain era, because its value is only limited by the imagination of the developer and the creativity of the community.In fact, even though the metaverse has lost some of its luster thanks to Meta’s woes, the co-founder of Web3 company and virtual real estate developer The Sandbox <a href="https://www.forbes.com/sites/zinnialee/2023/05/25/despite-funding-downturn-cofounder-of-web3-game-the-sandbox-is-still-bullish-on-the-metaverse-thanks-partly-to-ai/?sh&#61;a907e6133793" rel="noopener noreferrer nofollow">remains bullish thanks to AI</a>.“Borget believes that ChatGPT and other generative AI tools will help populate the metaverse at a much faster pace by making it easier to design virtual worlds and avatars. Top game maker Activision Blizzard, for example, is already using generative AI to speed up the process of game design and development, as reported by the New York Times. ‘We are on the brink of a major evolution in how we build and manage our games,’ Allen Adham, Blizzard’s chief design officer, told employees, according to the Times report.”“Borget adds that AI can also help make the metaverse a safer space by applying its technology to filter out offensive language from in-game conversations.”Whether bull or bear, the virtual worlds that we are building for gaming, entertainment, business, and other activities will always require virtual real estate. Indeed, it will be interesting to see how the convergence of <a href="https://coinmarketcap.com/community/articles/646afa501b62dd1168714733/" rel="noopener noreferrer nofollow">AI, Web3, and the metaverse</a> will reshape the virtual real estate industry.What’s vital is to find the right virtual world where you will build. Because at the end of the day, when it comes to property — whether real or virtual — what’s important is location, location, location.—————————————————————————————————————What is Cryptopia? Cryptopia is an upcoming blockchain game that stands out by design: • Free to earn: everyone can play and earn. No need to buy an NFT first • 100% decentralized: the game runs on the blockchain in combination with a node network • Fun to play: play the way you want!Official Links [Website] <a href="https://cryptopia.com/?ref&#61;CMC" rel="noopener noreferrer nofollow">https://cryptopia.com</a> [Wiki] <a href="https://wiki.cryptopia.com/" rel="noopener noreferrer nofollow">https://wiki.cryptopia.com</a> [Discord] <a href="https://discord.com/invite/cryptopia" rel="noopener noreferrer nofollow">https://discord.com/invite/cryptopia</a> [Facebook] <a href="https://www.facebook.com/CryptopiaOFCL" rel="noopener noreferrer nofollow">https://www.facebook.com/CryptopiaOFCL</a> [Twitter] <a href="https://twitter.com/CryptopiaOFCL" rel="noopener noreferrer nofollow">https://twitter.com/CryptopiaOFCL</a> [YouTube] <a href="https://www.youtube.com/&#64;CryptopiaOFCL" rel="noopener noreferrer nofollow">https://www.youtube.com/&#64;CryptopiaOFCL</a> [Instagram] <a href="https://www.instagram.com/cryptopiaofcl" rel="noopener noreferrer nofollow">https://www.instagram.com/cryptopiaofcl</a> [CoinMarketCap] <a href="https://coinmarketcap.com/community/profile/Cryptopia" rel="noopener noreferrer nofollow">https://coinmarketcap.com/community/profile/Cryptopia</a> [Twitch] <a href="https://www.twitch.tv/cryptopiaofcl" rel="noopener noreferrer nofollow">https://www.twitch.tv/cryptopiaofcl</a> [Spotify] <a href="https://open.spotify.com/show/4jkkGIZyiSkQvYLWqGLWVE" rel="noopener noreferrer nofollow">https://open.spotify.com/show/4jkkGIZyiSkQvYLWqGLWVE</a> [Telegram] <a href="https://t.me/cryptopia_ofcl2022" rel="noopener noreferrer nofollow">https://t.me/cryptopia_ofcl2022</a>For Investors [Private sale] <a href="https://app.cryptopia.com/privatesale-entry?ref&#61;CMC" rel="noopener noreferrer nofollow">https://cryptopia.com/privatesale</a> [Early-access NFTs] <a href="https://app.cryptopia.com/early-access?ref&#61;CMC" rel="noopener noreferrer nofollow">https://app.cryptopia.com/early-access</a> [Cryptopia Roadmap] <a href="https://sharing.clickup.com/24415847/b/q93k7-827/board" rel="noopener noreferrer nofollow">https://sharing.clickup.com/24415847/b/q93k7-827/board</a>

The Future of Virtual Real Estate: How NFTs are Changing the Landscape

Cryptopia

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