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Silicon Valley Interested in Virtual Lands in the NFT Metaverse

CryptocurrencyApr 21, 2021 10:00AM ET
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Silicon Valley Interested in Virtual Lands in the NFT Metaverse

  • Top companies are interested in investing in Land NFT’s.
  • Decentralized gaming virtual world, The Sandbox attracts top investors from Silicon Valley.
  • NFT’s continue to reach new highs as more money pours into digital tokens.
  • Sandbox Land sale sees companies buy top Lands which will increase user interaction.

As non-fungible tokens continue to reach new highs on a daily basis, digital real estate is keeping pace. Possession of virtual real estate is a growing trend as more investors look to participate in owning a “Land” or estate, on the blockchain.

The metaverse is a virtual world where users can interact through simulated scenarios by creating an avatar on a platform. Virtual gaming companies have been at the forefront of developing the Metaverse into what it is today.

Silicon Valley Investing in NFT MetaVerse

Whenever the opportunity presents itself in technology, Silicon Valley seeks to lead the charge in investments. Multiple Silicon Valley companies became strategic investors in The Sandbox’s virtual lands in its NFT universe earlier this month.

Sandbox, a subsidiary of Animoca Brands, is the top decentralized metaverse platform.

Multiple companies, including Nifty Gateway, 21x, Gemini, as well as renowned venture capital companies like Galaxy Interactive, investors Bill Lee, PayPal’s co-founder Ken Howery, Uken Games CEO Chris Ye, heavy metal band Avenged Sevenfold and others poured their capital into virtual lands.

The Sandbox’s recent sale of Land NFTs indicates strong support for the possession of virtual real estate. Land NFT’s, the company announced, will be a ticket to developing games on the platform for users. The move suggests the Metaverse is here to stay; it may also push virtual gaming to the next level.

The Sandbox Game has set itself apart from its peers in terms of tokens and benefits for users and developers, social interaction, entertainment among other features.

Sebastien Borget, co-founder of The Sandbox, stated after the sale, “As a vibrant, growing NFT-based gaming metaverse, The Sandbox is attracting strong and diverse new partners each day, from gaming studios to IP brands, artists, celebrities, visionary entrepreneurs, technology companies, etc.”

The company launched the beta version of The Sandbox’s NFT marketplace which has received tremendous support from Silicon Valley investors. Other NFT metaverses have also received financial support from Silicon Valley investors.

On the Flipside

  • The inventions of multiple metaverses may lead to multiplicity which may dampen the mood and affect the billion-dollar market
  • A piece of these estates costs approximately $400,000, a sizeable expensive for smaller developers and investors

The Future of the MetaVerse

With investments pouring in and more users registering on virtual gaming platforms, the recent rise in metaverses is just the beginning. Silicon Valley investors are acquiring Lands in NFT marketplaces and developing new products to revolutionize modern media.

Epic Games organized virtual concerts in Fortnite that saw millions of people participating. As a result Epic Games secured $1 billion funding, with Sony (NYSE:SONY) playing a leading role.

Metaverses could ultimately become a global phenomena and become the future of gaming. The development of new themes and improvement in cloud computing will make metaverses exceed present expectations.

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Silicon Valley Interested in Virtual Lands in the NFT Metaverse
 

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