Virtual real estate has in recent years become one of the most talked about objects of investment in the world, especially in the context of metaverse and NFT (non-interchangeable tokens). Virtual land and properties are increasingly in demand, and they represent new opportunities for earning and investing. Despite China's tight regulation of cryptocurrencies and digital assets, interest in virtual real estate remains high, with many Chinese users looking for ways to cash in on the market. In this article, we will tell you how you can make money on virtual real estate in China, what opportunities are opening up for investors and what risks should be taken into account.
1. What is virtual real estate?
Virtual real estate is land or real estate that exists only in the virtual world, such as metaverse or gaming platforms that use blockchain technology to confirm ownership. Such assets are acquired and sold in the form of NFTs, which confirm the uniqueness and authenticity of the object.
- How it works: In virtual worlds, users can buy land, build buildings on it, create virtual stores, art galleries, and hold virtual events. All these objects are recorded on the blockchain, which allows you to confirm ownership and conduct transactions.
- Examples: Platforms like Decentraland, The Sandbox and Axie Infinity allow users to buy, sell and develop virtual land plots.
2. How to make money on virtual real estate in China?
Despite legal restrictions, Chinese users can find several ways to make money on virtual real estate. These methods include buying and selling plots of land, creating virtual objects, renting real estate, and participating in metaverse.
2.1 Buying and Selling Virtual Real Estate
Buying and selling virtual properties is one of the main ways to make money in the metaverse. Users can buy land or properties from virtual worlds for the purpose of reselling them at a higher price.
- How it works: Virtual real estate can be purchased in metaseles like Decentraland, The Sandbox, where buyers purchase land, develop it and then sell it to other users.
- Earnings: When reselling real estate, when the demand for virtual land increases, its price can increase significantly, which makes a profit for owners. The more popular the virtual world becomes, the higher the potential cost of objects.
2.2 Virtual Real Estate Rental
In addition to buying and selling, you can earn money by renting virtual real estate. In this case, users can lease their land or buildings, earning a steady income from other users who use them for various purposes.
- How it works: Virtual plots of land can be leased for events, store creation or simply for use in a virtual economy. Tenants may use these areas to place advertisements, organize outlets, or other commercial properties.
- Earnings: A virtual property owner receives regular payments from tenants, making renting a stable source of income.
2.3 Creating and Selling Virtual Objects
Creating and selling virtual objects is another way to make money, especially for creative people such as artists, designers and developers. In metaverse, users can create unique objects that can then be sold as NFTs.
- How it works: Users can create unique digital goods such as avatar suits, virtual home interiors, playable items or even entire buildings. These properties can be sold on the platform as NFTs, confirming their uniqueness and ownership.
- Earnings: When selling such objects, you can make a profit, as well as earn a royalty - a percentage with each subsequent resale of their tokens.
2.4 Virtual Event Participation and Gaming
Another way to make money on virtual real estate involves participating in virtual events and games. In some metaverse and games, users can organize virtual concerts, exhibitions, conferences or other events using their virtual real estate.
- How it works: For example, in the Decentraland metaverse or Somnium Space, users can create exhibition halls, concert venues or even casinos. These venues can be used for events where you can make money or cryptocurrency.
- Earnings: Sell event tickets, rent out virtual business spaces or even sell virtual goods and services.
3. Virtual Real Estate Investment Platforms in China
Despite restrictions on cryptocurrencies in China, Chinese users are actively investing in virtual real estate through platforms that allow them to bypass blocking and regulation.
3.1 Decentraland
Decentraland is one of the largest virtual real estate platforms where users can buy, sell and build on their land plots. The platform supports the purchase of land and facilities using MANA, an Ethereum-based cryptocurrency.
- How it works: At Decentraland, Chinese users can use VPNs to access the platform, as well as bid, buy and sell virtual parcels of land or rent them out.
3.2 The Sandbox
The Sandbox is another popular platform that allows users to create and share virtual objects and real estate. This metaverse has a strong community and is actively developing the virtual real estate market.
- How it works: Users can create and buy virtual land plots, build various objects on them and sell them or rent them out. The platform supports the use of SAND - a token to pay for transactions.
3.3 Somnium Space
Somnium Space is a metaverse that allows the creation, purchase and sale of virtual land and buildings. Somnium Space focuses on virtual reality and creating a more immersive experience.
- How it works: Chinese users can connect via VPN and participate in buying and selling property in VR format, creating unique spaces and making money from renting or selling them.
4. Risks and Limitations
4.1 Legal risks
China has strict regulation of cryptocurrencies and related technologies. Despite the growing interest in virtual real estate, it is worth considering the possible legal restrictions and risks associated with changes in legislation.
4.2 Market Volatility
Prices for virtual real estate can be very volatile. As with other digital assets, the value of virtual sites can fluctuate greatly depending on the popularity of the platform and demand for real estate.
4.3 Security and Fraud
Like other markets, there is a risk of fraud in virtual real estate. It is important to scrutinise platforms and counterparties to avoid losses and fraudulent schemes.
5. Conclusion
Virtual real estate earnings are increasingly popular in China, and opportunities to invest and make money continue to grow. Despite the legal and economic risks, Chinese users actively invest in virtual lands, create and sell digital goods and objects in metaverse. It is important to be careful, use proven platforms and consider risks to minimize potential losses and make the most of the gains.
1. What is virtual real estate?
Virtual real estate is land or real estate that exists only in the virtual world, such as metaverse or gaming platforms that use blockchain technology to confirm ownership. Such assets are acquired and sold in the form of NFTs, which confirm the uniqueness and authenticity of the object.
- How it works: In virtual worlds, users can buy land, build buildings on it, create virtual stores, art galleries, and hold virtual events. All these objects are recorded on the blockchain, which allows you to confirm ownership and conduct transactions.
- Examples: Platforms like Decentraland, The Sandbox and Axie Infinity allow users to buy, sell and develop virtual land plots.
2. How to make money on virtual real estate in China?
Despite legal restrictions, Chinese users can find several ways to make money on virtual real estate. These methods include buying and selling plots of land, creating virtual objects, renting real estate, and participating in metaverse.
2.1 Buying and Selling Virtual Real Estate
Buying and selling virtual properties is one of the main ways to make money in the metaverse. Users can buy land or properties from virtual worlds for the purpose of reselling them at a higher price.
- How it works: Virtual real estate can be purchased in metaseles like Decentraland, The Sandbox, where buyers purchase land, develop it and then sell it to other users.
- Earnings: When reselling real estate, when the demand for virtual land increases, its price can increase significantly, which makes a profit for owners. The more popular the virtual world becomes, the higher the potential cost of objects.
2.2 Virtual Real Estate Rental
In addition to buying and selling, you can earn money by renting virtual real estate. In this case, users can lease their land or buildings, earning a steady income from other users who use them for various purposes.
- How it works: Virtual plots of land can be leased for events, store creation or simply for use in a virtual economy. Tenants may use these areas to place advertisements, organize outlets, or other commercial properties.
- Earnings: A virtual property owner receives regular payments from tenants, making renting a stable source of income.
2.3 Creating and Selling Virtual Objects
Creating and selling virtual objects is another way to make money, especially for creative people such as artists, designers and developers. In metaverse, users can create unique objects that can then be sold as NFTs.
- How it works: Users can create unique digital goods such as avatar suits, virtual home interiors, playable items or even entire buildings. These properties can be sold on the platform as NFTs, confirming their uniqueness and ownership.
- Earnings: When selling such objects, you can make a profit, as well as earn a royalty - a percentage with each subsequent resale of their tokens.
2.4 Virtual Event Participation and Gaming
Another way to make money on virtual real estate involves participating in virtual events and games. In some metaverse and games, users can organize virtual concerts, exhibitions, conferences or other events using their virtual real estate.
- How it works: For example, in the Decentraland metaverse or Somnium Space, users can create exhibition halls, concert venues or even casinos. These venues can be used for events where you can make money or cryptocurrency.
- Earnings: Sell event tickets, rent out virtual business spaces or even sell virtual goods and services.
3. Virtual Real Estate Investment Platforms in China
Despite restrictions on cryptocurrencies in China, Chinese users are actively investing in virtual real estate through platforms that allow them to bypass blocking and regulation.
3.1 Decentraland
Decentraland is one of the largest virtual real estate platforms where users can buy, sell and build on their land plots. The platform supports the purchase of land and facilities using MANA, an Ethereum-based cryptocurrency.
- How it works: At Decentraland, Chinese users can use VPNs to access the platform, as well as bid, buy and sell virtual parcels of land or rent them out.
3.2 The Sandbox
The Sandbox is another popular platform that allows users to create and share virtual objects and real estate. This metaverse has a strong community and is actively developing the virtual real estate market.
- How it works: Users can create and buy virtual land plots, build various objects on them and sell them or rent them out. The platform supports the use of SAND - a token to pay for transactions.
3.3 Somnium Space
Somnium Space is a metaverse that allows the creation, purchase and sale of virtual land and buildings. Somnium Space focuses on virtual reality and creating a more immersive experience.
- How it works: Chinese users can connect via VPN and participate in buying and selling property in VR format, creating unique spaces and making money from renting or selling them.
4. Risks and Limitations
4.1 Legal risks
China has strict regulation of cryptocurrencies and related technologies. Despite the growing interest in virtual real estate, it is worth considering the possible legal restrictions and risks associated with changes in legislation.
4.2 Market Volatility
Prices for virtual real estate can be very volatile. As with other digital assets, the value of virtual sites can fluctuate greatly depending on the popularity of the platform and demand for real estate.
4.3 Security and Fraud
Like other markets, there is a risk of fraud in virtual real estate. It is important to scrutinise platforms and counterparties to avoid losses and fraudulent schemes.
5. Conclusion
Virtual real estate earnings are increasingly popular in China, and opportunities to invest and make money continue to grow. Despite the legal and economic risks, Chinese users actively invest in virtual lands, create and sell digital goods and objects in metaverse. It is important to be careful, use proven platforms and consider risks to minimize potential losses and make the most of the gains.