Where do you go to buy digital real estate?

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This week we’re quoting Renato De Castro (Executive Director at RMA Advisory)

What De Castro said: 

“People are buying land in the metaverse. Just in one month, last November, we had more than $100 million bought in land in the metaverse.”

Things have changed since then

These words are from De Castro’s keynote at LEAP 2022. As we wrote on the blog this week, the virtual real estate landscape has changed quite a bit since then. 

Data from Expert Market Research shows that the global metaverse real estate market size reached an approximate value of USD $1.69 billion in 2023, and is projected to grow at a CAGR of 48.60% until 2032 – when it’ll hit $59.83 billion. 

So if you do want to invest in this space and build your portfolio of digital property, where do you start? Here’s our list of five top places to buy digital real estate in 2024. 

1. Decentraland 

Launched in 2015, it’s one of the most established – and most popular – metaverse platforms out there. As the name suggests, it’s a decentralised platform that enables users to create and monetise content and applications, as well as experience or purchase assets that other people have made. Decentraland’s Marketplace is the place to go if you want to buy and sell virtual land here. It’s an intuitive marketplace with great UX, making it easy to find and purchase assets that suit your needs. 

2. The Sandbox 

Initially released as a 2D mobile game in 2021, The Sandbox has evolved into a thriving metaverse platform – and just like Decentraland, it allows users to create and monetise content and experiences, or buy content from others. 

Within The Sandbox, you’ll find a huge variety of virtual real estate for sale – and the purchasing experience is user-friendly, too. 

3. OpenSea

You’ve probably heard OpenSea come up in conversations about NFTs. And virtual land is a type of NFT – so as the largest NFT marketplace in operation, OpenSea is a great place to go to buy and sell digital real estate. 

Like the other platforms we’ve included on this list, the UX is strong and it’s easy to explore and choose your ideal virtual plot. 

4. Bloktopia 

Marketed as a one-stop shop for everything cryptocurrency and NFT, Bloktopia is a metaverse world in which users own all of the assets. Its whole virtual land mass is divided into NFTs on the Ethereum blockchain, so each plot is a distinct entity and available for market exchange. 

In May 2022, Bloktopia introduced Land Sale – a portal that allows Bloktopians to own a piece of the metaverse. Multiple ownership NFTs guarantee a rental income of 10%, and there’s also short-term potential to capitalise on NFT ownership by selling it on the open market at an appreciated price. 

5. Somnium Space Auction 

On this decentralised VR platform, virtual land is offered for sale via regular auctions. This means that instead of browsing a marketplace for the assets you need, land is for sale at certain times, through a transparent process with a focus on openness and fairness – making it accessible to everyone. 

Somnium Space auctions often have thousands of parcels of land for sale, so the vast majority of users will be able to find what they need. 

Read the blog: What is digital real estate and why should you buy it? 

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Catch you next week,
Richard McKeon
Vice President of Marketing & Communications, Tahaluf

Mark your calendars for 📅 9-12 February 2025.