Tokens.com subsidiary Metaverse Group buys four extra large premium virtual waterfront parcels in the Somnium Space metaverse.
Metaverse Group is a subsidiary of Tokens.com Corp. (OTCQB US: SMURF), a publicly traded Web3 company that invests in crypto assets linked to the Metaverse, DeFi, NFTs, and Play-to-Earn Gaming.
What is Somnium Space?
Somnium Space is a metaverse built on the Ethereum blockchain. An open-source platform, Somnium Space allows users to buy digital land, homes, buildings, and myriad in-game assets of value in its online multiverse. Somnium space is compatible with Oculus Quest, a virtual reality headset. Somnium Space gained significant attention in 2021 when Tyler and Cameron Winklevoss joined the project as official advisors and made an investment through the Gemini Frontier Fund.
Tokens.com
Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in Play-to-Earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and skates crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.
Metaverse Group solidify its position as leading metaverse real estate owners
The premium waterfront parcels diversify Metaverse Group’s eight-figure real estate portfolio across several metaverses. The virtual real estate provides new opportunities for brands to connect with new audiences and showcase their ecommerce offerings in the metaverse. Metaverse Group’s additional parcel purchases continue to solidify its position as leading metaverse real estate owners and developers.
Tokens.com CEO, Andrew Kiguel, commented:
“We are diversifying our virtual land holdings to make navigating the metaverse more accessible to brands beginning or expanding their metaverse marketing strategies. In addition, we are working to democratize all Web3 assets, making them available to the public in liquid form through our publicly traded shares. Tokens.com continues to be one of the only publicly traded companies offering such an extensive and diverse portfolio of crypto assets including the metaverse, P2E Gaming, NFTs, DeFi and staking.”
Metaverse Group’s newly acquired premium parcels were strategically chosen due to their high retail value, given that they are positioned on exclusive waterfront. Much like property in the real world, virtual lots that are positioned near water hold a higher value than those inland.
Metaverse Group now owns a total of 11 parcels positioned on waterfront and inland equivalent to 18,000 sq feet purchased for 58,000 CUBE, the Somnium Space native currency.
Parties interested in virtual land parcels can contact landsales@metaversegroup.com.
Virtual Real Estate Rush
At the moment, a number of crypto games and metaverse are available that allow investors and gamers to purchase virtual real estate. In 0xUniverse, players must own planets in order to earn resources and conduct commerce. In addition, games like Axie Infinity allow players to buy land, which will provide gameplay benefits in the future. However, the developers have not yet done this.
We’re seeing a tremendous virtual land rush in games that provide a virtual environment or virtual reality. Apart from Somnium Space, Decentraland, Cryptovoxels, and The Sandbox are highly popular among investors.
The blockchain stores ownership of this virtual real estate, and land owners can sell or trade whatever they wish. The premise is that property owners in the metaverse can do whatever they want with their property similar to a real world property. They can build a house or anything beautiful to look at, but they can also monetize elements of their property. They could, for example, build a virtual museum with an entrance fee, or a virtual store.
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