Digital Real Estate: Is it worth it?

[11h11]

I think best Digital Real Estate is Ethereum Name Service(ENS).
2010+ bitcoin
2020+ web3 identity

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[Abiky]

When you buy land in a virtual world that is created in the metaverse, you don't really own something in the real world but you own it in that virtual world where it can either be used or sold to someone else. Governments or any other trusted entity intervening in such a thing would only make sense if the land being sold or bought are actual lands that are digitalized and someone who buys it gets both digital and physical ownership of the land.

The meaning of digitalization is that something that has a physical existence is given a digital identity or a digital form, but when we talk about digital land in the metaverse, they are not physically available lands that you are buying but it's just like a game or online project or something, and if the project decides to pack up, you lose your investment with it.

Linking digital land to its physical counterpart is nice. But I don't think it's the "way of the future". Everything seems to be heading towards "virtualization" these days. You can see why the metaverse, NFTs, and even crypto itself are very popular. Most of these digital assets don't have a physical representation in the real world. They only exist in the "digital realm". We are quickly shifting from the "tangible era" to the "intangible era". Digital Real Estate may not be a thing today, but it will be in the future.

What I'm concerned with is the current projects' ability to withstand the test of time. After all, content is not stored on the Blockchain itself. It's stored on a centralized server only developers/creators control. If you buy virtual land, and the game shuts down for whatever reason, you will lose everything for good. Using an immutable blockchain (Bitcoin?) for preserving content, is the way to go. Maybe developers who care about decentralization/censorship-resistance will make this happen someday? No one can predict the future, so lets hope for the best.

[DeathAngel]

Ask yourself if you think in 20 years will digital real estate be selling for big money & base your financial decisions on your answer. In my opinion it’s just another popular craze that will amount to nothing long term. This is not financial advice though so do your own research.

[oktana]

Personally, I feel its stupidity at its worst when someone claim to buy acres on the moon and the same or even worse when the project says to buy your digital land cause it doesn't even exist for the sake when comparing and its real.

If you want to buy digital land then buy GTA5 and explore the city all you want.

Funny but this isn't GTA5, it doesn't have to be physical to be real or have value. If you think so, tell us about NFTs, did people not spend millions of dollars on that? I mean, if you look at it, you'll see how much value digital lands have over NFTs that are just art (yet not a physical thing). Bitcoin can't be seen yet it exists and is worth tens of thousands of dollars. Digital real estate is a thing. Yes, it comes with its own risk but people are buying and selling virtual land. For me, I only think it could do better.

[jrrsparkles]

Personally, I feel its stupidity at its worst when someone claim to buy acres on the moon and the same or even worse when the project says to buy your digital land cause it doesn't even exist for the sake when comparing and its real.

If you want to buy digital land then buy GTA5 and explore the city all you want.

Funny but this isn't GTA5, it doesn't have to be physical to be real or have value. If you think so, tell us about NFTs, did people not spend millions of dollars on that? I mean, if you look at it, you'll see how much value digital lands have over NFTs that are just art (yet not a physical thing). Bitcoin can't be seen yet it exists and is worth tens of thousands of dollars. Digital real estate is a thing. Yes, it comes with its own risk but people are buying and selling virtual land. For me, I only think it could do better.

Everybody expects a project that they invest in will become the next bitcoin but it probably may not happen cause its one of its kind and others are just trying to replicate what bitcoin did without actually improving anything. It doesn't really makes sense to me that buying and selling something called digital land, is a land that never exists.

You can ask that about NFT or even for the bitcoin itself but they hold something innovative and for NFTs every project failed after the hype and now people don't really invest in NFT anymore.

[batang_bitcoin]

Ask yourself if you think in 20 years will digital real estate be selling for big money & base your financial decisions on your answer. In my opinion it’s just another popular craze that will amount to nothing long term. This is not financial advice though so do your own research.

I agree.
One perfect example is the Axie Infinity land. They have bunch of lands and will still make you earn money as of now but the pricing of that before was crazy and very high. Right now, they're still quite expensive to say and we don't know what's in it for the future. ROI might even take you a decade or more or even impossible if devs won't push for better development
Yeah, it's all about craze and hype.

[Blitzboy]

When you buy land in a virtual world that is created in the metaverse, you don't really own something in the real world but you own it in that virtual world where it can either be used or sold to someone else. Governments or any other trusted entity intervening in such a thing would only make sense if the land being sold or bought are actual lands that are digitalized and someone who buys it gets both digital and physical ownership of the land.

The meaning of digitalization is that something that has a physical existence is given a digital identity or a digital form, but when we talk about digital land in the metaverse, they are not physically available lands that you are buying but it's just like a game or online project or something, and if the project decides to pack up, you lose your investment with it.

Linking digital land to its physical counterpart is nice. But I don't think it's the "way of the future". Everything seems to be heading towards "virtualization" these days. You can see why the metaverse, NFTs, and even crypto itself are very popular. Most of these digital assets don't have a physical representation in the real world. They only exist in the "digital realm". We are quickly shifting from the "tangible era" to the "intangible era". Digital Real Estate may not be a thing today, but it will be in the future.

What I'm concerned with is the current projects' ability to withstand the test of time. After all, content is not stored on the Blockchain itself. It's stored on a centralized server only developers/creators control. If you buy virtual land, and the game shuts down for whatever reason, you will lose everything for good. Using an immutable blockchain (Bitcoin?) for preserving content, is the way to go. Maybe developers who care about decentralization/censorship-resistance will make this happen someday? No one can predict the future, so lets hope for the best.

You brought up an interesting paradox: moving from physical to virtual assets while still figuring out how to deal with the stability and security that physical things often offer. There is, in fact, a change toward intangible assets that can be seen in the rise in interest in digital assets like the metaverse, NFTs, and cryptocurrencies. But your doubts about how long these digital goods will last bring up an important point. How do we balance the desire for stability with the fact that the digital world changes all the time?

There is a real problem with the worry that information wont be stored on the blockchain but on centralized servers. Could using a blockchain that cant be changed be the answer? Could be. Digital assets can be lost, especially if the site they're stored on fails. This needs to be fixed right away. It might be helpful to focus on coders who put decentralization and censorship resistance first. There are a lot of moving parts, and your hope for a good result is shared by many.

[Abiky]

Ask yourself if you think in 20 years will digital real estate be selling for big money & base your financial decisions on your answer. In my opinion it’s just another popular craze that will amount to nothing long term. This is not financial advice though so do your own research.

I have seen NFTs that were once popular, going all the way down the drain in an instant. It's likely the same will happen with "digital real estate". But I cannot tell for sure, due to the unpredictable nature of crypto land. It's best to proceed with caution by only investing what you can afford to lose. Life is all about risks, but only those willing to take them have a good chance of succeding in the future.

For what I know, the world is heading into full-fledged "digitalization". We owe it all to the rise of the Internet and crypto/Blockchain tech. Who knows how our society will change in the long run?

[Biznesmen]

I support digital real estate; why not? If NFTs are popular and you can make money from them, why not digital real estate? People are trying to make the technology the best and in a different way to create an opportunity to earn. Why not support them and earn from them? But I can't predict the future, so it's going to go down in flames or make a huge amount, depending on the market. But the thing is, don't fall behind the scenes. Before making any decision, just make sure of your financial situation and the legitimacy of the project. We don't know what next will catch our attention, but it seems like we have totally forgotten the real world and are living in a digital world.

[poodle63]

I support digital real estate; why not? If NFTs are popular and you can make money from them, why not digital real estate? People are trying to make the technology the best and in a different way to create an opportunity to earn. Why not support them and earn from them? But I can't predict the future, so it's going to go down in flames or make a huge amount, depending on the market. But the thing is, don't fall behind the scenes. Before making any decision, just make sure of your financial situation and the legitimacy of the project. We don't know what next will catch our attention, but it seems like we have totally forgotten the real world and are living in a digital world.

the thing with digital real estate, is the fact that every game devs can make their own digital lands which is based on game lands, then abandon it.
you will be surprised how many actually the so called metaverse game that also have land ownership in game actually just getting out of business.
that'd be a concern if you have some lands which initally was valued few thousand dollars turning out to be absolutely nothing or in other words become useless.
then after that you will figure out that this technology, just being used for speculation, giving too much disadvantage while the benefit isn't really obvious.

[Deddyhoku]

That pixels will worth zero without their company and without intrestest in projects. Don't think that it's a big deal for now

[DaNNy001]

I support digital real estate; why not? If NFTs are popular and you can make money from them, why not digital real estate? People are trying to make the technology the best and in a different way to create an opportunity to earn. Why not support them and earn from them? But I can't predict the future, so it's going to go down in flames or make a huge amount, depending on the market. But the thing is, don't fall behind the scenes. Before making any decision, just make sure of your financial situation and the legitimacy of the project. We don't know what next will catch our attention, but it seems like we have totally forgotten the real world and are living in a digital world.

Why would anyone not support digital estate, i mean with the world is advancing, there is certainly going to be something concerning this trend and how it's worth is going to explosive in the near future, so intend of being skeptical about it, I think it's best just to follow up with the trend of new things because the world is advancing and technology is the grasp of it so why dull when the whole plan and growth is still at it's early stages.

[Abiky]

the thing with digital real estate, is the fact that every game devs can make their own digital lands which is based on game lands, then abandon it.
you will be surprised how many actually the so called metaverse game that also have land ownership in game actually just getting out of business.
that'd be a concern if you have some lands which initally was valued few thousand dollars turning out to be absolutely nothing or in other words become useless.
then after that you will figure out that this technology, just being used for speculation, giving too much disadvantage while the benefit isn't really obvious.

If the game was open source or lived within the Blockchain itself, then we would have nothing to worry about. But knowing that virtual land is non-persistent, there's the risk of losing it all in the future. Developers need to fix this if they want "Digital Real Estate" to become a part of our daily life.

Both Decentraland and The Sandbox are promising, but I'm not sure if they will be able to last for long. The industry is still risky to say the least. Just like NFTs where they could lose value overnight. The future is widely unpredictable, so expect the unexpected. Just my thoughts

[nimogsm]

For me personally, this is not an attractive investment. Since this is just hype based on the example of the same meme tokens, when there is hype on them there is a price, this is the basic rule. In this topic, price charts were shown and they all went down, which may mean that investors have lost interest and there are no new investors. You can make money on such projects only at the beginning of their journey; in the long run there will only be losses.

[JesWade]

I support digital real estate; why not? If NFTs are popular and you can make money from them, why not digital real estate? People are trying to make the technology the best and in a different way to create an opportunity to earn. Why not support them and earn from them? But I can't predict the future, so it's going to go down in flames or make a huge amount, depending on the market. But the thing is, don't fall behind the scenes. Before making any decision, just make sure of your financial situation and the legitimacy of the project. We don't know what next will catch our attention, but it seems like we have totally forgotten the real world and are living in a digital world.

Absolutely, I totally see where you're coming from. Real estate Developres, just like Union Developers, is an interesting concept that's gaining traction. It's all about seizing opportunities in this ever-evolving digital landscape. It's wise to approach it cautiously though, considering both the potential rewards and risks. Staying informed and ensuring the legitimacy of any project is key. It's fascinating how we're transitioning more and more into this digital realm, but yeah, we shouldn't lose sight of the real world either.

[JayTrain]

In my opinion, digital real estate is a unique concept, but it's still unclear how it will evolve. Owning virtual property sounds appealing, but I feel it's not as attractive as owning real estate. Moreover, there might be many scammers in this field, so it's better not to rush into investing in it.

[Lukmanfirdaus1]

pure hype, there is no future and will definitely be forgotten, the nft market alone has crashed 95%, how does it have a future, as far as I know most digital properties use nft.

A report by dappGambl based on data provided by NFT Scan and CoinMarketCap showed that out of 73,257 NFT collections the researchers looked at, 69,795 of them, or slightly over 95%, had a market cap of zero ether. SOURCE--

I feel sorry for those who fell for the NFT hype, now the asset they bought is no longer worth anything, or the value is very far from the price they bought it at. Physical and digital property assets are very different, even the ownership documents are different, people buy NFTs which can be generated using AI in just a few hours.

[o48o]

pure hype, there is no future and will definitely be forgotten, the nft market alone has crashed 95%, how does it have a future, as far as I know most digital properties use nft.

A report by dappGambl based on data provided by NFT Scan and CoinMarketCap showed that out of 73,257 NFT collections the researchers looked at, 69,795 of them, or slightly over 95%, had a market cap of zero ether. SOURCE--

I feel sorry for those who fell for the NFT hype, now the asset they bought is no longer worth anything, or the value is very far from the price they bought it at. Physical and digital property assets are very different, even the ownership documents are different, people buy NFTs which can be generated using AI in just a few hours.

This is just not true. They have gone trough one cycle of bear and bull and look how volatile they were. Who knows what's happening next cycle. If you had bought bored ape right a the start, and not sold it, it would have brought you near a million dollars just with airdrops alone. It's really misleading to say they are down so much from ATH, when there was an insane explosive spike before it.

I am not saying that people should buy any of them, far from it. But not seeing the parallel to altcoin fall of 2014-2015 is pretty amazing to me. Yeah they are basically stupid, and bling of the most annoying new money crypto bros, but markets are made of stupid, and that's where the profits are.

You brought up an interesting paradox: moving from physical to virtual assets while still figuring out how to deal with the stability and security that physical things often offer. There is, in fact, a change toward intangible assets that can be seen in the rise in interest in digital assets like the metaverse, NFTs, and cryptocurrencies. But your doubts about how long these digital goods will last bring up an important point. How do we balance the desire for stability with the fact that the digital world changes all the time?

There is a real problem with the worry that information wont be stored on the blockchain but on centralized servers. Could using a blockchain that cant be changed be the answer? Could be. Digital assets can be lost, especially if the site they're stored on fails. This needs to be fixed right away. It might be helpful to focus on coders who put decentralization and censorship resistance first. There are a lot of moving parts, and your hope for a good result is shared by many.

What do you mean? We are already using a blockchain that can't be changed for the key information. Blockchains are just decentralized ledgers and should be kept as minimalistic and fast as possible, they are not meant to store a whole game in them, as they are already too big. It would be unpractical, bulky, expensive and extremely slow. And most importantly, not build for it.

You run the servers with systems that are build for it, they are fast, responsive and cheap. In short, they are build for it. There's a good reason you don't run some servers on excel spreadsheets code or similar either.

[Kelward]

I've seen digital property being sold for thousands of dollars (USD) in Decentraland. I'm yet to understand why digital real estate is appalling to mainstream investors. Owning a virtual property is not the same as owning a real one. It's just like NFTs (through the form of digital art, items, etc.). It may be all hype that will eventually fade away into oblivion. Or maybe I'm wrong?

Do you think digital real estate has a future? Is it worth it? If not, why? Your input would be greatly appreciated. Thank you very much.

I doubt that anyone can convert real estate into digital asset, because it's something physical and as the name imply, it is an asset that is supposed to be seen, only it's worth that can be converted in Monterey terms, but it's the physical property that determines the price. The concept is as wield as NFT to me, something not realistic, and you'd see people investing their hard earned money into these projects, and when it eventually crashes, they'll blame the developers for scamming then, even when scam was written I'll over it from the onset.

[SandrCrypto]

There were a lot of scam projects among Digital Real Estate projects. That is why many people do not trust them. But the idea of Digital Real Estate is good but the main thing is the realization of this idea.