The Virtual Land Rush ~ it’s a Big Deal
For those that are unfamiliar, “Virtual Land” is a thing.
In the process of trying to place a value on a recent company acquisition, we decided to put some research into appraising the value of virtual assets, in particular, “Virtual Land”.
You might ask what is Virtual Land?
The answer might surprise you… To help you understand, we offer the following quote:
June 2018: Offered interested buyers a chance to exchange their own cryptocurrency based on the Ethereum blockchain for virtual “LAND” (parcels of 1,100 square feet each or 10 by 10 meters).
Digital 1,100-square-foot plots in Genesis City are selling for as much as $200,000.
Its ICO raised a whopping $26 million in just 30 seconds from private investors, enthusiasts, and VR companies. Like all cryptocurrencies, there’s a ledger for the marketplace as the “LAND” changes hands.
Genesis City is a plot of virtual land, roughly the size of Washington, D.C., that investors can buy slices of for obscene amounts of money. Even a simple 1,100 square foot plot can go for as much as $200,000, according to Bloomberg.
So, Virtual Land is a Thing…
Time to get this figured, there’s a land rush online and everything “Virtual” is exploding.
Instantly, online experiences from games and museums, the shopping have exploded in popularity. Expected to exceed $196 billion in revenue by 2022, now considered to be one of the fastest-growing industries on the planet.
Let’s take a look at just the headlines…
So, perhaps you wonder if you can sell your virtual land or other property?
Rent Your Virtual Land in our Multiverse
Since our experience is a gamified virtual shopping experience, merchants can get valuable traffic from players/shoppers on Mahalo.Island or Peir.39, or hundreds of other A.X.R Experiences at Mahalo.Market.
The value of a player clicking a Hotspot (Virtual Land) in our game is comparable to the value of a click a merchant might buy from Google: