The cost of a plot of virtual land is resolved in basically the same manner to other non-fungible tokens or digital forms of money. There are three fundamental elements to analyze:
1. Utility – Virtual land contrasts from numerous other NFTs as it typically has an assortment of utilization cases. These will vary contingent upon the stage they’re on. For instance, advanced universes like Decentraland permit clients to modify and make on their territory.
In the event that your territory is in a famous region or gets numerous guests, you could charge for promoting. Your property could likewise give you benefits in a blockchain computer game. You might have improved marking rewards or experience novel in-game occasions like in Axie Infinity.
2. The stage – Popular stages like Decentraland, The Sandbox, or the impending My Neighbor Alice will generally have greater costs for their NFT land. This is because of market interest. The client base and interest of these stages are a lot higher than more modest ventures.
3. Theory – Large deals of NFT lands in the past have prompted an expanding measure of hypothesis. For instance, the NFT land organization Metaverse Group spent generally $2.43 million in November 2021 buying a package of 116 plots of land in Decentraland. Each plot is 16 meters squared, providing them with an absolute area of 1,856 meters squared of land in the Fashion Street region.