The Economics of Land: Real vs Virtual

With a number of metaverse projects already in the marketplace, one of the first things you’ll notice is how many of them are based around land. Whether it’s Decentraland with their total of 90,601 10m x 10m land plots or Earth2 and Next Earth with well over a trillion plots, these form the basic foundations of all these projects. Many are built on the initial sales of these lands, acting as a primary stage for jump-starting the whole metaverse itself. With an economy that follows and incorporates a record of land ownership, that can be minted as NFTs on the blockchain. When we speak of “land” in the sense of using it within metaverses, we are speaking of both the intangible land assets, as found on platforms such as Decentraland and The Sandbox, as well as those tangible assets based on Mapbox versions of the real planet, such as found on Earth2 and Next Earth. From an economic standpoint, land is anything existing without cost from “nature,” that can be used in production. So, though land itself is “passive,” for the sake of metaverses, it’s probably the most important agent for growing an economy. This also includes assets from within the earth itself, such as precious metals and minerals, which are all essential for the production of goods.     The Characteristics Of Real vs Metaverse Land Let’s have a look at both real and metaverse land, as well as see how we can translate important factors fro...