Believe it or not, metaverse lands can be rare after all

The metaverse may be endless, but we're not there yet;

Just recently, Yuga Labs, the team behind the famous bored non-fungible token (NFT) primates, raised some $300 million from the sale of Otherdeed NFT, a collection of lands in a future metaverse. Indeed, NFTs, the blockchain industry's primary method of creating digital asset scarcity, have emerged as the preferred way to manage virtual land ownership for most metaverse projects, including Decentraland and The Sandbox. All of this sparked an interesting question in the community: In the metaverse, a vast, nearly infinite digital space, how can digital earth be rare? Well, let's dig.

First of all, address the elephant in the room: the metaverse is not real. I mean, the Ready Player One-style metaverse, a transparent virtual-reality-based interpretation of the internet as we know it. So while you can strap on your VR headset for a rave at Decentraland, the device will barely stay on for your daily dose of Instagram or a browse of the news feed.

In other words, we currently have a growing number of relatively siled metaverse projects, which provide users with an array of project-specific experiences and functions, as opposed to browsing the entire web. That in itself suggests that scarcity is a valid concept to consider as far as their lands go, even if we view their value through the same prism as real-world lands.

Related: Sci-Fi Reality or Blockchain? "Ready Player One" oasis can be built

In the real world, the value of land is the product of a few fairly straightforward variables: for example, natural resources, from oil or mineral deposits to forestry and renewable energy, access to infrastructure , urban and logistics centers. , and fertile soil. All of this can come into play depending on what you plan to do with the...