On Next Earth, a virtual replica of Earth on Ethereum, the virtual property market is booming. In the world’s first ITO, virtual land tiles were sold to thousands of buyers. So far, over $1.1 million in virtual property has been sold. This is due to the growing demand for NFTs as people seek out rare opportunities that represent something more than just another digital asset. This includes the sale of major stadiums and famous buildings, along with tens of thousands of virtual acres. The land sector on the blockchain is one where NFTs are already starting to make major inroads. Scarcity and rarity are two qualities that make collectibles such as art and wine widely sought after, but there’s another aspect that makes virtual real estate so alluring: ownership. In the world of digital scarcity, non-fungible tokens represent unique assets — unlike fungible cryptocurrencies like Bitcoin are exchanged for equivalent value. The Benefits of Virtual Property NFTs Virtual land has also become an increasingly popular investment option for those looking to diversify their portfolios, whether it’s an NFT-focused portfolio or even a traditional investment portfolio with an allocation to alternatives. NFT-based virtual land offers the benefit of investing in a brand-new asset class, but unlike physical real estate or art, it can be bought and sold instantly on a blockchain without any third party managing its ownership or trans...
