Compared to other aspects of cryptocurrency, the Metaverse is a nascent concept and is still in its early stage. Yet, the Metaverse is making quite a buzz on the internet today thanks to Facebook, now known as Meta. The Metaverse is not a singular virtual space; there is not one but many Metaverses. For instance, Axie Infinity, Somnium Space, Star Atlas, Cryptovoxels, Sandbox, and Decentraland are but some of the major Metaverses. Sandbox and Decentraland lead the pack at any given time. This might be in part due to the high number of players the projects have, but it is mostly because of the ground-breaking real estate sale made in the Metaverses.
On both the Decentraland and Sandbox metaverse, you can play games, socialize, and transact assets and real estate. Furthermore, they both have utility tokens built on the Ethereum Blockchain and they have virtual activities similar to the real world. There are vast possibilities for the uses of the Metaverse, including holding virtual concerts, renting a shop, and buying and developing land just like in the physical world. Yet, some investors will only choose either the Decentraland or Sandbox Metaverse. If you are not sure whether you should be a landlord on the Sandbox or Decentraland Metaverse, learn about the two and make an informed decision.
Metaverse Real Estate in Sandbox Overview
Sandbox metaverse real estate has seen a surge in recent times, as it was categorized as one of the top 10 NFTs, and land sales on the platform have accounted for a quarter of all NFTs sales. The sale of $4.3 million worth of virtual land to Republic Realm by the ecosystem by Sandbox metaverse is seen as the highest sale so far recorded in the Metaverse real estate.
While Metaverse real estate has overshadowed other activities on the platform, the Sandbox is still a play-to-earn game developed on the blockchain and uses DeFi and NFTs in a 3D metaverse. You can build your avatar, trade assets, gems, and lands, and create virtual goods that can be sold for SAND tokens.
The Sandbox is backed by over 160 brands including major brands like Adidas, Atari Arcade, Opera, Binance, and Snoop Dog. Snoop Dog has a property on the metaverse known as Snoopverse and it is worth more than $450,000 to be his neighbor.
Tokens on Sandbox Metaverse
The Sand token is an ERC-20 utility and governance token of the Sandbox metaverse built on the Ethereum blockchain. The token has a maximum supply of 3 billion and a circulating supply of 919 million. With a current market capitalization of 4 billion and an average price of $5.15, SAND has reached an all-time high of $8.51, and it is projected to further increase in the future. You can get SAND on exchanges like Binance, Gemini, and Coinbase.
There are 166,464 plots of land in the Sandbox which are grouped into estates or districts. Estates are plots of land owned by one person while districts are owned by many people. LAND is an ERC-721 token that you can buy plots of land using the SAND token. You can earn money on your virtual land by renting it, building games on it or selling it off.
Among the real estate Metaverses, land on the Sandbox is recording the highest sales. In November a virtual real estate realtor, the Republic Realm, bought $4.3 million worth of metaverse property from Atari SA.
ASSETs on the Sandbox are voxel assets that you can trade to make money on the platform. ASSETs on the sandbox include block, wearables, entities, equipment, and art. You can buy ASSETs with the SAND token from the marketplace or create your own.
Metaverse Real Estate in Decentraland Overview
A subsidiary of the Metaverse Group, Tokens.com, acquired 116 parcels of an estate worth $2.4 million on Decentraland in November to build a fashion industry. This represents the largest land acquisition on the metaverse to date. Decentraland is a 3D game built on the Ethereum Blockchain and established in 2015 where players can acquire parcels of land with the network’s native Decentraland MANA. Decentraland has since migrated to the Polygon network.
The Decentraland Metaverse real estate is backed by such brands as Samsung, Polygon, Atari, Coinfund, and even the South Korean Government.
Tokens on Decentraland Metaverse
This is a virtual utility and governance token on Decentraland that can be used to buy parcels of land and also goods and services on the platform. MANA is what users use to customize their avatar and explore the virtual universe. Currently, the Decentraland MANA price is $3.63 per MANA; the token has a market cap of $6.4 billion without any maximum supply. MANA is a fungible ERC-20 token built on the Ethereum blockchain. You can buy MANA on major exchanges like Crypto.com, Binance, Gemini, among others.
Unlike on the Sandbox where there are plots of land, land on the Decentraland metaverse is denominated as a parcel. LAND is a non-fungible token on the platform that is grouped into parcels, estates, districts, and plazas. Each parcel of LAND is 16 square meters. Furthermore, Estates are multiple parcels while districts are parcels with similar themes and plazas are parcels owned by the community. Since the virtual land is built on the blockchain using a smart contract, it is unique and traceable to the owner.
There are only 90,601 parcels of LAND on Decentraland and they are sold at auction. The most expensive parcels are located in prime locations in the virtual world. So, if you’re wondering how to make money on Decentraland then you should buy a parcel of land in a prime location.
This is similar to the ASSET token on the Sandbox metaverse. They include wearables and articles of clothing that are created for each avatar. Wearables are non-fungible tokens that are divided into items and collections.
Decentraland vs. Sandbox Metaverse: Where Should I Open Shops?
No doubt, many large companies are building business empires on the Metaverse now even though it has yet to realize its potential. You can invest in Sandbox or Decentraland metaverse real estate as they both have promising futures.
The Sandbox has been in existence long before Decentraland and has a clear roadmap that will make it relevant in the market. LAND bought on the Sandbox in March has increased by 1500 times today and will continue to increase. Furthermore, the high number of celebrities setting up shops on the Metaverse will boost the price of LAND. On the other hand, Decentraland has only 90,601 parcels of land and continues to burn MANA. However, Sandbox price prediction shows that it has the potential to outperform Decentraland in the future.
Remember that location is also an important consideration whether you are looking into the real world or virtual real estate. Therefore, whether you buy a plot on Sandbox or a parcel of LAND on Decentraland, where you choose matters and it will determine the future value of your asset.
Buying Metaverse real estate on either Sandbox or Decentraland is a good investment. However, keep in mind that cryptocurrency is volatile and you should do your own research (DYOR) before you make any investment decision. Although the future is not written in stone, Sandbox likely has a more promising future than Decentraland. The integration of Polygon, the vast number of partnerships, and the clear path laid down by the ecosystem make the Sandbox metaverse a better option for investors looking to buy metaverse real estate.
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