2021 Metaverse Report: Why You Must Own a Virtual Real Estate

Original source: Republic Realm

Original compilation: Tug@Foresight Ventures

In 2021, "Metaverse" will become a buzzword in many industries. Similarly, in the Western world on the other side of the ocean, the "Metaverse" is also developing in full swing. So in the past year, what developments have been made in the metaverse ecology based on blockchain? Republic Realm, a leading metaverse development company, recently released the "Republic Realm 2021 Metaverse Virtual Real Estate Report", which summarizes the metaverse ecology of the past year. The following is the original text of the report.

2021 is quite groundbreaking for the entire metaverse ecology sex year. As the Metaverse concept gains more and more mainstream attention, the prices of land and assets in the Metaverse gradually approach real-world levels. Celebrity arrivals, high-profile brand partnerships, skyrocketing valuations for various Metaverse tokens, and growth in P2E gaming all contributed to the meteoric rise of the Metaverse in the last year.

This report reviews the development of the Metaverse virtual real estate business ecology in 2021 and discusses the main related issues market trend. These trends include: the entry of mainstream traditional players; the commercial application of Metaverse technology (including games and transactions); and the impact of non-homogeneous tokens NFT on the overall metaverse.

This report consists of three parts:

The definition and development status.

Comprehensive data analysis and investment logic introduction for the four metaverse projects.

Observation and prediction of new trends in the Metaverse industry.

Main findings:

In 2021, the total sales of digital real estate and the prices of other metaverse assets will increase significantly.

The Sandbox is pulling away from the rest of the Metaverse on several key metrics.

Games and metaverse are inseparable. Both tracks benefit from the liquidity provided by digital land sales.

What is metaverse real estate ?

Introducing

Virtual worlds are not a new concept. Second Life and Eve Online, launched back in 2003, are virtual worlds specifically designed for adults. These games managed to build complex internal economies and attract millions of users at their peak. These two virtual world games became popular when people were still used to interacting in real life. But both games have seen a dip in popularity as new crypto-based upstarts continue to emerge.

2004, Ailin Graef (whose avatar goes by the name Anshe Chung) begins amassing virtual real estate in Second Life. She started with less than $10 and became the first person to achieve a net worth of over $1 million through a business transaction conducted entirely in the virtual world. Today’s interest in virtual real estate and NFT speculation can be traced back to the myths surrounding Anshe Chung.

Since then , the interaction and social interaction between people began to become more and more virtual. Most people have moved their social and work relationships to their phones or laptops. If there was ever a tipping point when people would interact more on computers than in person, it's now. The sudden global new crown epidemic has contributed to the early arrival of this critical point. These new habits may lead to permanent behavioral and cultural shifts, irreversibly altering our previous norms.

Blockchain Metaverse

The "metaverse" refers to the vast virtual world created by companies such as Somnium Space and Star Atlas. Metaverse properties refer to salable land assets in these worlds. They are built on the blockchain (which is the basic standard for all metaverses we will cover in this report), and the "land" in the metaverse can usually be bought and sold in the form of non-fungible tokens (NFT).

There are enough People believe that this virtual real estate is scarce and has value, and they spend a lot of money on it. For this reason, ownership of virtual property has become a digital status symbol for early investors.

In addition to status , Ownership also represents something bigger - a contribution to the metaverse community ecology. The development of Metaverse real estate has a huge impact on the way players interact within it. They become spaces for people to engage, explore, build and socialize. Here, people mimic real-life interactions while increasing the value of the land.

On virtual real estate Investing is done by buying and exchanging non-fungible tokens (NFTs), which are a special type of cryptographic token that represent something unique. Therefore, NFT tokens are not interchangeable, which is in essence in contrast to cryptocurrencies such as Bitcoin, which are equally interchangeable. Every NFT is different; it is indivisible and non-fungible.

Although not like some As liquid as cryptocurrencies traded on major exchanges, virtual real estate NFTs can be traded on the NFT marketplace in a more streamlined and transparent manner than real-world real estate transactions.

Virtual Real Estate NFT's Ownership is recorded on a decentralized blockchain, rather than being cumbersome like traditional deeds or title transfers. The landholder is the permanent owner of this digital asset, and even if the game's servers are down, that won't change.

Land in the virtual world Potential buyers must be familiar with these new rules. In virtual worlds, it is important to bring humanity and life into the digital space, bringing players together and then encouraging them to immerse and interact. (These settlements are often referred to as "content clusters.") In the virtual world, property originality and design matter even more than location and budget.

Although in the Metaverse The number of daily active users in is still relatively small, but when users start to flood into the metaverse, selling real-world products in the virtual world will become a very cost-effective marketing strategy. In fact, such marketing could accelerate the mass adoption of Metaverse as consumers become more willing to buy virtual products from their favorite brands.

Virtual world environment and The convergence of real-world spending is nothing new. Players have been buying skins, gear, and health in video games for years. All these transactions will take place in the metaverse mall in the future.

Imagine being like Nike Possibility of such a company. Instead of opening a store on every high street in America, Nike could build an amazing virtual retail experience in a metaverse that sells to anyone, anywhere, anytime. At some point, every company will realize it needs to have a virtual presence in a metaverse like Decentraland, just as they all know they must have a website on the internet.

The result is self-actualization of. As content in the Metaverse becomes more compelling, more people will show up, attracting more corporate sponsorships.

More importantly , participants in this virtual economy will realize that this is an exciting time. The possibility of escaping to a new world and reinventing ourselves will always appeal, even to the most stubborn of us. Add to that colorful graphics, art, music, and new friends from around the world, and it's easy to see why the Metaverse is such a hit.

The pioneer of virtual real estate The ability to get in at a price that is still relatively affordable compared to the real world market. Like the first movers in fast-growing places in the real world (villages in Florida; Austin, Texas; Las Vegas), those who invest early and hold on long-term will benefit.

"Meta Effect"

In October 2021, Facebook announced that it will change its name to "Meta". The announcement immediately raised public awareness of the Metaverse. Overnight, metaverse became a buzzword. News outlets around the world started asking “What is the Metaverse?” Facebook’s message to the world was clear: The Metaverse was the future of the internet.

Facebook's announcement not only The increase in the number of metaverse lands for sale has also led to a sharp increase in the token prices of various blockchain metaverse platforms.

For example, SAND, which was trading at $0.99 prior to the announcement, was trading at a 2021 high of $8.40 , an increase of 748%. On the other hand, Decentraland’s MANA rose from $0.76 to $5.79, an increase of 662%. These price increases resulted in a fully diluted market capitalization of $18 billion for SAND and $7 billion for MANA.

Game tokens in There has also been a sharp rise over the same period. Star Atlas’ ATLAS token jumped 133% from $0.09 to $0.21, while Gala Games’ GALA token rose 953% from $0.08 to $0.82.

Graph: $PLAY index, composed of SAND, AXS, MANA, ILV, ENJ, GALA, YGG and AUDIO

As the price of metaverse tokens rises, investors also turn to metaverse land. Between Meta’s announcement and this writing, the Sandbox’s average land price has increased by 349%, from $2,702 to $12,136, while Decentraland’s virtual land price has increased by 26%, from $10,755 to $13,602.

NFT in the game Assets have also benefited from this surge in interest in the Metaverse. Republic Realm’s Fantasy Islands, an island development in The Sandbox, sold in September for 5 ETH each (roughly $15,000 at the time). By the fourth quarter of 2021, the islands are trading for as much as 50 ETH ($195,152), which is equivalent to the price of a house that can be purchased in the real world.

In addition, the same series A digital yacht called The Metaflower Super Mega Yacht sold for 149 ETH ($650,000). Meanwhile, homes in the Wilder World metaverse are selling for as much as $160,000. In Solana-based space game Star Atlas, all assets are tokenized, and some buyers have paid as much as $3 million for virtual spaceships.

Convergence of Physical and Digital Life

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In Metaverse, each user is represented by an animated "Avatar". Users can dress up and design their avatar according to their preferred aesthetic, just like real-world fashion. Prices for clothing and accessories vary, with some having more social value than others. As people's physical identities are inextricably linked to their digital identities, the value of NFT accessories is becoming increasingly important throughout the Metaverse ecosystem.

Meebits, CloneX and Popular NFT avatar projects such as Bored Ape Yacht Club further emphasize the convergence of NFTs, metaverse properties, and digital wearables. While these collections of NFTs now exist as PFPs or “Avatar Pictures,” each of their roadmaps points to Metaverse utilities. These Avatars could function as 3D characters in Metaverse games, VR, and Metaverse social interactions in the future.

Luxury brands also The migration to the digital realm has already begun in the form of digital wearables. As a veteran sports brand, Adidas recently launched its own avatar program, working with the Bored Ape Yacht club to create a series of NFT wearable devices. Industry-leading virtual footwear creator RTFKT (recently acquired by Nike) has sold NFT metaverse sneakers for up to $10,000. Digital fashion companies such as Tribute Brand, DRESSX and The Fabricant have also launched successful digital wearable collections. In May 2021, a virtual Gucci handbag sold for 350,000 Robux ($4,115), $700 more than the physical bag ($3,400).

Facing these high prices For NFT, it is important to note the distinction between decentralized assets and centralized assets. In a centralized metaverse, such as Fortnite, only the game developer, Epic Games, makes a profit from the sale — even more than $50 million from a set of Fortnite Skins. However, in a blockchain-based decentralized metaverse, profits and sales royalties are typically distributed to product creators and users, promoting a collaborative, shared environment consistent with crypto’s decentralized ethos.

 

Picture: Gucci』s Luxury handbag , physical (left) and virtual (right)

Celebrities Enter the Metaverse Real estate

While Facebook's rebranding to Meta was undoubtedly a major contributor to the rise in popularity of the Metaverse, there were other important milestones that brought the Metaverse into the mainstream vision. Social media and news headlines amplified the activity as some celebrities began entering the Metaverse to expand their brands. For example, a piece of land next to Snoop Dogg's home in The Sandbox sold for $450,000 (Snoop Dogg tweeted it was a "good deal").

 Picture: Snoop Dogg's Twitter information

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Reports on the metaverse have expanded from news media in the encryption circle to famous international news Media such as Reuters, CNBC, New York Times, Bloomberg, CNN, Wall Street Journal, etc. In November 2021, The Wall Street Journal reported that Republic Realm acquired The Sandbox land from gaming giant Atari for $4.3 million, the most expensive virtual land purchase in history.

The four metaverses

are currently leading The four metaverses of Decentraland, The Sandbox, Cryptovoxels, and Somnium Space share many key characteristics, including:

- have seen significant user interest and game asset sales data .

- Free to use.

- Owns a limited amount of tokenized (NFT) land.

- Land can be bought and sold in primary and secondary sales on marketplaces such as OpenSea and Rarible.

- Virtual landowners are free to decide what projects to develop on all land.

- They do not have a clear goal. Players can spend time in the Metaverse however they want.

Landowners have created a series of places and activities in the Metaverse, including Casinos in Decentraland, Somnium Space The Crypto Art Museum, and a variety of interactive video games being developed at The Sandbox, among others.

Decentraland

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 Figure : One of Decentraland's characteristic neighborhoods

Decentraland (Chinese Translated "Decentralized Paradise"), is a multiplayer role-playing game developed by two Argentinian software engineers, Estaban Ordano and Ari Meilich. The virtual world is centered on a plaza called Genesis City. It shares some similarities with early virtual games like Simcity and Second Life, as well as newer multiplayer games like Minecraft and Fortnite.

What sets Decentraland apart from its predecessors like SimCity is its cryptocurrency-based economic system. Game users can use Decentraland's own encrypted token "MANA" to buy, sell and develop all land plots except roads and squares (called "LAND" in the game). The fully diluted market cap of MANA is approximately $7 billion, an increase of more than 322 times from the market capitalization of approximately $20 million at the time of the 2017 ICO.

Decentraland has got Involvement of a large number of brands and influencers. Last July, Sotheby's launched a virtual art gallery replica of its London gallery in Decentraland's Voltaire art district. Paris Hilton also hosted a virtual concert here with musicians including Deadmau5, Alabaster dePlume and 3lau.

 Picture: Sotheby's location in Decentraland

The Sandbox

 Photo: One of the many vibrant locations in The Sandbox

The Sandbox was developed by a team in France with a design similar to Minecraft --- the world's best-selling video game, with more than 228 million copies sold since its release. Although the Sandbox game is not yet fully live, on November 29, 2021, the project released an alpha version to many users, allowing them to experience the earliest version of the gameplay.

The Sandbox is the most One of its notable features is its lot map, which allows buyers to place pictures on the lot where their property sits. Over the past 12 months, the map has featured logos for all kinds of popular companies, from Atari to The Walking Dead to The Smurfs.

 Figure : The Sandbox map. Owners are free to imprint any image, usually a logo, on their land.

So far, The Sandbox has acquired over 165 IP partners including Adidas, Snoop Dogg, The Walking Dead, Care Bears, Atari, CryptoKitties, Shaun the Sheep and Square Enix (creator of Tomb Raider and Final Fantasy ). Each partner intends to develop content on their land, such as multiplayer games and social experiences, as brands look to permanently establish themselves in the Metaverse. Meanwhile, NFT projects such as Bored Ape Yacht Club, CyberKongz, Party Degenerates, and Solana Monkey Business have purchased land in The Sandbox, each intending to develop their own properties for community spaces, games, and events.

Cryptovoxels

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 Picture: several players gathered in Cryptovoxels

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Cryptovoxels is a virtual world built on the Ethereum blockchain by Nolan Consulting, an independent game developer based in Wellington, New Zealand. The main area is a large square continent called "Origin City", which is further subdivided into neighborhoods such as "Memes", "Mars", and "Kitties". Avatars in this world have a unique mannequin appearance, and players can further customize and dress them up to look however they want.

Cryptovoxels allows players to Display their own NFT on their property. For this reason, many enthusiasts in the budding "digital art" ecosystem have started using Cryptovoxels. Digital art galleries are common here. Cryptovoxel's interface also allows users to view and bid on these art auctions.

Somnium Space

 Picture: Realistic World of Somnium

Somnium Space was founded in 2017 by a Czech team and operates with desktop and VR compatibility. Unlike typical grid layouts, Somnium Space's plots are located along its river and come in a variety of sizes and shapes. There are several mountaintops on the map that allow for a wide view of the world.

Somnium Space has also successfully established partnerships in its Metaverse. Landowners include prominent entities such as cryptocurrency exchange Gemini, which has a joint headquarters with Nifty Gateway. Cryptocurrency exchange FTX has similarly launched its Somnium Space headquarters. These companies interpret meaning that exists in both the physical and virtual worlds.

Republic Realm also established the Republic Realm Academy in Somnium Space, offering virtual classrooms, Headquarters and party space.

 Figure : FTX's Somnium Headquarters

 Figure : Gemini's Somnium Headquarters

 Picture: Republic Realm College

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This is the educational institution of the Republic Realm, which recently built a campus in the Somnium Space metaverse.

Virtual real estate investment logic

Each The monthly average price changes of Metaverse parcels all reflect one thing: the market is indeed unstable. Any crypto investor should be very familiar with this.

June 2021 , the average price of land across the four metaverses is around $6,000. They will all average nearly $12,000 through December 2021. While Decentraland and Somnium Space regularly averaged over $10,000 a month over a two-year period, Cryptovoxels and The Sandbox land sales just topped $10,000 this November.

 Figure 1: Average monthly price of land in Cryptovoxels, Decentraland, The Sandbox and Somnium Space

Land scarcity

Similar to land in the real world, The core driver of land value in the Metaverse is scarcity.

Each Metaverse Each has a different amount of total land supply, which is clearly stated in the Metaverse's white paper (similar to a company's Articles of Incorporation). Conceptually, the greater the amount of land in a given metaverse, the more potential players and projects that can be built. However, more plots mean that without a deep user base to develop and activate the plots, the metaverse is likely to become an "empty city".

Scarcity is all Potential drivers of value in virtual worlds. At the start of any Metaverse project, the developer states the total number of plots that will be created. This is similar to "fully diluted shares outstanding" used to calculate stock valuations. The total value of all land in the Metaverse is roughly equal to the average price of a parcel multiplied by the total number of parcels. This metric is useful for estimating and comparing the total value of different metaverses.

Due to the development of Metaverse The team usually holds a large amount of land in the Metaverse in the treasury, so the founding team has an incentive to prop up the value of the land asset by encouraging development and slowly selling new land, so as not to suddenly "flood" the asset price.

The table below illustrates Total land count and other stats for each metaverse.

 Figure 2: Metaverse block data

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There are only 268,645 blocks in total in the four metaverses, and the total amount of Bitcoin in circulation is about 19 million. While the number of Metaverses cannot be limited, neither can the number of BTC competitors. Although many cryptocurrencies attempt to replace BTC as a digital value store through fierce competition, BTC's special status has never been shaken. Similarly, metaverses like The Sandbox and Decentraland may be replicated many times in the future, but their unique gameplay, partnerships, and player bases will not transfer frictionlessly to the next competitor. Unless competitors have a very clear competitive advantage.

Let's consider Manhattan Case. Manhattan real estate isn't valuable because of its location. In fact, there are many islands along the eastern U.S. coastline with similar topographical features and an even better climate, but none as valuable as Manhattan. why is that?

Manhattan is valuable because millions of people built things there over hundreds of years— Offices, theaters and entertainment venues, schools, housing and more. The reason why Manhattan has value is because of its development quality (equivalent to the content in the metaverse), and the consensus formed by society on its value.

Different sizes, different prices

Sandbox parcels have a uniform size of 96x96 meters, much larger than the 16x16 meters of the Decentraland parcels. In contrast, Cryptovoxels and Somnium Space have plot types of different sizes. Somnium Space's plot sizes range from small, medium and extra large, ranging from 200sqm to 1500sqm, while Cryptovoxels' plot sizes vary widely. While the price of a plot of land in The Sandbox is comparable to land in other metaverses (~$10,000), its price per square meter is 41 times cheaper than land in Decentraland and 24 times cheaper than land in Cryptovoxels.

2021 Land Sales Data

Despite Interest in the Metaverse has increased over the past few months, but the actual number of parcels sold in 2021 is lower than in 2020. This is largely due to The Sandbox's intermittent public sale of parcels throughout 2020. At the same time, the five-figure starting price also discourages many buyers.

Figure 3 shows The total number of plots sold each month in 2020 and 2021. As shown, most of the land sold was land in the Sandbox.

 Figure 3: Land units sold monthly by Decentraland, Cryptovoxels, The Sandbox and Somnium Space< /blockquote>

The Sandbox in November 2020 and 2021 The sales figures for 2019 were significantly higher, with more than 20,000 parcels sold for the period. In November 2020, Sandbox ended its "pre-sale 4.3". The event featured more than 1,800 "premium land" lots for sale, each located near land owned by prominent partners such as Binance. The most recent November 2021 spike was largely driven by Facebook's late-October rebranding event, which drove sales surges across all four Metaverses.

To sum up , land unit sales data for the four metaverses provides a clearer indication that interest in land in The Sandbox is much higher than in other metaverses. This is notable because it's the only one of the four Metaverses that hasn't officially launched yet.

Although in The Sandbox The number of lots in the Metaverse accounts for only 62% of all land in the metaverse, but each month in 2021, The Sandbox land sales accounted for at least 73.5% of the total sales.

When Considering Land Sales Sandbox is more of an outlier when it comes to the total dollar value of . For example, at the beginning of 2020, Sandbox land accounted for 0.79% of total sales, but by December 2021, Sandbox generally accounted for more than 70% of total monthly land sales.

 Figure 4: Land sales values for Decentraland, Cryptovoxels, The Sandbox and Somnium Space

In November 2020, a total of $87,114,159 worth of virtual land was sold across the four metaverses. One year later, in November 2021, the total will be $186,302,763, a 114% year-over-year increase.

As of December 19, 2021, as of this writing, December 2021 is the total value The third highest month, over $70 million.

In 2020, Decentraland and The Sandbox have roughly equal total sales. Since 2020, the total value of Sandbox land sales has been steadily eating into Decentraland's previous record for land sales. (Sandbox averages 64% of total transactions in 2021, compared to 25% for Decentraland.)

As the newest Metaverse platform in the four metaverses, The Sandbox owes its success in part to the fact that its release coincided with the explosion of the Metaverse concept. However, its far-reaching outperformance against the competition suggests that The Sandbox's success may not just be a blessing in disguise.

More buyers are entering the market

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More companies and individuals are buying Metaverse land than ever before.

 Figure 5: Cumulative totals of landowners in Cryptovoxels, Decentraland, The Sandbox and Somnium Space

Since early 2020 , the cumulative number of landowners across the four metaverses increased by 1,132% to a total of 24,598 as of mid-December 2021.

with others discussed Like the metrics, this number is heavily influenced by The Sandbox, which accounts for nearly 70% of the total, while the platform accounts for 62% of the total parcels. Meanwhile, Decentraland owners make up about 15% of the total number of owners in the entire Metaverse, and Decentraland's share of the total number of parcels is 30%. The number of plots per person in each metaverse can have an important impact on its future land prices, as land in some metaverses is more concentrated in the hands of a few people.

Conclusions of the Four Metaverses

The virtual land in The Sandbox is having a breakout year in 2021. Across multiple metrics, the platform shows undeniable dominance over the other three metaverses. While we're passionate about The Sandbox, we also believe there are some very interesting land buying opportunities in the other three metaverses, especially Somnium Space and Cryptovoxels, where land is also more scarce.

The average price per plot of land in these four metaverses is currently between $10,000 and $15,000. We attribute price convergence to the inability of buyers to assess whether land in one metaverse is more valuable than land in another.

So far, Land scarcity in Metaverse real estate does not equate to higher land value. Conversely, in the Metaverse, more land means greater total value. While a single parcel in the Sandbox may not be more valuable than owning a parcel in the other Metaverses, the combined value of Sandbox real estate is more than the other three Metaverses combined.

With more With the launch of the Metaverse platform, we anticipate the emergence of new land transaction models that will benefit Metaverses with quality content, active community, organic game mechanics, and user experience. Right now, The Sandbox is the clear winner in this space.

Other Metaverse Platforms

Metaverses At its core are video games, and video games take a long time to develop -- years, not months. This means that those more realistic and interactive Metaverse projects may take a while to develop. Compared with the current popular Metaverse concept hype, there is a certain lag in real technology. However, there are some exciting projects in various stages of planning that hint at a bright future for Metaverse technology.

We are watching closely The projects are realistic multifunctional platforms built by blockchain and industry leaders. Platforms like Star Atlas, Pixelynx, SPACE, Big Time, etc. will most likely wow everyone when they launch. The virtual economy will rise relying on its own powerful economic system, e-commerce will become a high-quality experience, and the community-driven cooperation model will be redefined.

As a Metaverse Ecosystem The "experts" of the Republic Realm are often able to acquire plots before the Metaverse project is launched. Getting in early at a relatively low cost is a strategy to reduce the risk of investing in real estate in the Metaverse.

In recent months, Republic Realm has invested in the following projects:

- Aavegotchi - Aavegotchi is an encrypted collectible Avatar for exploring the Aavegotchi digital universe. Each Aavegotchi has a rarity score based on a unique combination of its character traits. By borrowing from the success of Tamagotchi, Aavegotchi is trying to bring the classic favorite back to the blockchain.

- BigTime - BigTime is a multiplayer action RPG developed by former Decentraland CEO Ari Founded by Meilich. Touted as a triple-A NFT action RPG, the game is the first of its kind. The project has attracted successful development talent from traditional games, including Carlo Arellano, a former concept artist for World of Warcraft, and Tom Zhao, a former concept artist for League of Legends.

- Bit.Country - Bit.Country is a platform to help users build their own Metaverse. Using 3D worlds, NFTs, and earn-to-earn games, creators can take community engagement to the next decentralized level. Creators can even launch their own social tokens that circulate in the virtual worlds they design, without the need for technical expertise.

- BYOVerse - BYOVerse innovatively puts forward the concept of "Metaverse Consumables". Its ecology is built around BYOPills - a type of NFT that provides different utilities when "consumed". They also plan to sell BYOLand, the land units that make up BYOVERSE. The composition and properties of the BYOPill owned by users have a significant impact on the terrain and resources of their BYOLand.

- Cradles - Cradles is a fantasy RPG set in prehistoric times with VR compatibility. The world is divided into the main urban area and the adventure area, whose original inhabitants are extinct animals from the Triassic era. Cradles takes players to another era before human civilization. Players can even play as these creatures, whether soaring through the skies as a pterosaur or stomping across terrain as a mammoth. Through materials obtained in the game, players can create NFTs and sell them to other players.

- DeHorizon-DeHorizon intends to create a cross-chain virtual carnival where Metaverse users can play games generated by other users . DeHorizon is managed through the DEVT (Decentralized Eternal Virtual Traveler) governance token, allowing owners to make decisions about the future of their game development. Its game ecosystem currently includes Battleroyale "DeTournament", Dragon-racing "DeQuidditch", etc.

- Dvision - DVision's Metaverse consists of Meta-Spaces, ie units of land available for sale. In Meta City, users can play games, win NFT prizes and trade NFT on the NFT marketplace. By using $DVI tokens players can trade with linked wallets.

- Embersword - In the world of Thanabus, players fight each other for token rewards (PVP) and Game (PVE). EmberSword's economy is built on top of Matic to include land and item sales on the blockchain. Players can take ownership of plots, settlements, towns, and cities in four countries.

- Highstreet - Highstreet is building the future of e-commerce by connecting brick-and-mortar brands to the metaverse. As a springboard for brands to build their virtual presence, Highstreet aims to connect brands and users in one virtual space. Products and storefronts in this interface can be owned and sold by real-world brands.  

- Mirandus - Developed by blockchain gaming company Gala games, Mirandus brings the medieval era into the future , providing MMORPG games that can be played and earned. Divided into 1625 separate contract societies, Mirandus has a range of tradable properties including castles, barns, majestic temples, tanneries, stables and more.

- Nifty Island - As the newest type of social media, the pioneer of the Social Metaverse, Nifty Island is creating Build an ecosystem for readers and collectors to showcase artwork, games and community interaction. All players are given an island at the start of the game without having to compete for scarcity in land distribution.

- Pixelynx - Pixelnyx is developing technology that attempts to improve the Metaverse as various entertainment media enter the Metaverse Audio and music experience in . Pixelnyx is betting on the blockchain as the ultimate way to optimize games and music, and has acquired a string of companies and assets to bring music to Web 3.0.

- Star Atlas - Star Atlas is a futuristic virtual game metaverse set in outer space. In this world, three factions rule the explorable universe, (1) MUD, ruled by humans, (2) ONI, ruled by various alien races, and (3) Ustur, ruled by sentient robots. As a AAA NFT game on Solana, players can either own their own spaceships as NFTs or use them to find valuable resources throughout the universe.

- SPACE - Space is building a business metaverse for commodity trading, networking, and building unique experiences optimization. Targeted primarily at the art, music and fashion sectors, the service leverages blockchain's utility in confirming digital authorship and paying royalties to creators. Their metaverse is divided into different "spaces" that organize user-owned economies.

- Treeverse - The goal of Treeverse is to meet the community's need for equal opportunity to participate. While NFT communities are mainly concentrated on Web 2.0 platforms such as Discord and Twitter, Treeverse hopes to bring these communities into the Web 3.0 metaverse and gamify the community experience.

- Wilder World - Wilder World combines the open world feel of a Grand Theft Auto game with tokenized real estate, The luxury market is brought to Web 3.0 through the DAO hub and the game earning model. Life in the Wilder World city "Wiami" is full of entertainment, luxury and leisure.

The new metaverse means diversity across different blockchains. In recent months, Republic Realm has looked at projects built on many different chains, including Ethereum, Solana, Binance Smart Chain, Polygon, Immutable X, Avalanche, Harmony, Near, Cosmos, Polkadot, Aave, Terra, Enjin, Flow and Wax.

So far, Projects built on Ethereum (including sidechains), Solana, and BSC have gained the most users, but the battle for the dominant chain of Metaverse games is far from over.

One of the most successful games of the year, DeFi Kingdoms, is built on the Harmony chain and will soon be built on the way to Avalanche Chain bridge. This 2D fantasy project has taken the gaming space by storm with its nostalgic RPG elements, solid DeFi features, and immersive virtual experiences. If DeFi Kingdoms maintains its current trajectory, we will undoubtedly see more applications adopting EVM-compatible chains.

Metaverse Real Estate and Play-To-Earn Games

The most compelling P2E game in the Metaverse space is Axie Infinity, which experienced record-breaking growth in 2021. In this game, players obtain in-game token rewards (AXS, SLP) through the fighting spirit "Axie". These tokens can be traded on cryptocurrency exchanges such as Binance and Coinbase.

Axie Infinity was reportedly valued at $30 billion in October, largely due to its third quarter The performance made it the most traded NFT series ever, surpassing NBA Top shot and CryptoPunks. Axie’s NFT sales in the third quarter of 2021 were $2.08 billion, accounting for almost 20% of the entire NFT transaction volume during the same period. The platform surpassed 2 million daily active users this year, a figure that has given the fledgling P2E game recognition from the wider gaming industry.

 Figure 6: Axie Infinity’s transaction volume in millions of dollars

In addition to NFT and game components, players can also In-game purchases of digital lands. Axie Infinity land, called Terra, incorporates traditional real estate economics principles, such as location pricing and the ability to lease or develop plots. These lands will also have some asset equipment popping up on the plot from time to time. Today, gamers are actively exploring land in the Axie Infinity metaverse, with Terra plots selling for up to $250.

The heart of any game It's a simple transaction between the player and the platform - time for enjoyment. As blockchain developers have started exploring the gaming industry over the past few years, innovative solutions such as roll-ups and sidechains have come to fruition through the conception and creation of different games. Sky Mavis developed the Ronin chain specifically for Axie Infinity, providing a more flexible blockchain gaming solution than Ethereum. After reaching unprecedented levels of popularity, Gods Unchained crafted Immutable X - an instant, gas-free layer 2 Ethereum protocol. Both projects have reaped huge benefits due to technological breakthroughs. This type of development continues to attract our interest, including scalable NFT protocols, projects built on emerging blockchains, EVM compatibility, and non-gaming platforms.

Other Breakthrough Developments Including EIP-3664, a new NFT standard to be built by Cradles. It envisions a new modular system for NFTs, allowing individual components of a digital game asset to be removed, sold, or added to another asset, reminiscent of the RPG mechanics players know and love. In theory, the new standard will allow unlimited scaling of assets without duplication of effort, and will likely open the door to a new world of cross-chain collaboration.

Conclusion

2021 is very big To a certain extent, it has consolidated the key technologies with Metaverse as the main application scenario, including VR and Web 3.0. The total land sales value in November increased by 114% year-on-year, proving the upward trajectory of an emerging industry, and it is believed that there will be more records in the future. break in.

Metaverse’s success is inseparable from the growing interest in verticals like Web 3.0 and NFTs. Fundraising in these two areas accounted for $1.8 billion of the $8.2 billion raised for crypto businesses in Q3 2021. In addition, the use of encryption technology and blockchain is also on the rise in 2021, further promoting the "out of the circle" of the Metaverse. The daily active address sending or receiving Ethereum increased from 511,250 at the beginning of the year to a peak in April 905,234, an increase of 77%. The Metaverse has become an integral part of the encrypted world.

If interest and development in the Metaverse continues to grow, it may soon become a major part of the entertainment and gaming industry. Metaverse games are currently not only for the Metaverse The developers themselves generate income, and also generate income for the game teams, users, and investors in these Metaverses. Grayscale estimates that the revenue of the virtual game world will increase from US$180 billion in 2020 to US$400 billion in 2025.

Meanwhile, Emergen Research Metaverse revenue is projected to grow at a CAGR of 43.3% through 2027 and will reach $828.95 billion in 2028. With Metaverse-related tokens reaching a staggering $37 billion total market capitalization in December, if these forecasts hold true , will bring more billions of dollars of capital to the field.

While the Metaverse is a nascent field, in the coming years content and user engagement will likely be the metrics that determine each platform's success. Capable of securing and offering interesting collaborations Projects of partnerships, interactive content and gamified experiences will ultimately benefit from user stickiness and the accompanying land price appreciation.

There will be more surprises coming to this controversial metaverse in the future, and it won’t be long.

About Republic Realm

Republic Realm is the metaverse ecosystem One of the most active investors and developers in , with more than 3,000 virtual real estate NFTs on 24 different Metaverse platforms. Assets invested, managed and developed by Republic Realm include NFTs, virtual real estate, metaverse platforms, games and infrastructure.

Disclosures, Disclaimers and Other Information

Unless otherwise stated, all content in this report is original and is owned by Republic Realm Inc. ("Republic Realm") .

Republic Realm and its Agents and employees, including the authors of this report, are Metaverse stakeholders, including many of the digital assets and Metaverse real estate projects described in this report.

This material is based on Current public information that we believe to be reliable, but we do not represent that it is accurate or complete and should not be relied upon. These materials are provided solely for illustrative, educational, or informational purposes and are subject to change. The information contained in this report should not be considered as research, investment advice or a recommendation to sell any securities.

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