NFT Use Cases: Virtual Land

A wise investor once said, “Land. It’s the one thing they can’t make more of.” The investor was Lex Luthor. And his advice might ring true in the metaverse. Virtual worlds like Decentraland, The Sandbox and Cryptovoxels give their real-estate a hard cap, meaning that – in theory – a finite supply will become more valuable if the demand soars.

“This is quite promising,” said Matty “DCLBlogger,” an influential voice in the NFT community who has been something of an oracle, dashing off a widely-shared Twitter thread in 2020 – over a year ago! – that outlined 25 future use cases of NFT. The thread looks prescient, correctly calling the rise of art, collectibles and gaming. Matty is just as bullish on virtual land. “Look at Axie Infinity,” he said. “There are a million-plus players,” and some of these players will think, “maybe it makes sense to own that land.”

Once you begin to wrap your brain around the idea that people could profit from digital real estate, the possibilities are dizzying. Maybe you own a plot of land, you build a virtual office building, and then you rent out the building for a virtual conference. And when the conference attendees want to blow off some steam, maybe they’ll want to gamble during their cocktail hour, so you rent out a casino game that lets them win and lose real cryptocurrency. As Matty said, “It gets real crazy.”