Look no further — here’s everything you need to know about digital real estate investing. This guide will walk you through the details you have to know to successfully invest in the ever-expanding digital real estate industry.
Are you still trying to wrap your head around blockchain technology, cryptocurrencies, and digital real estate investing? Don’t worry, I’ll walk you through all of it.
People who understand its depth and potential value are investing massively into digital real estate. And why wouldn’t they?
According to a recent report by crypto asset manager Grayscale, investments in this market’s estimated reach will soon be $1 trillion. The non-existent plots of land are selling like crazy!
One patch of land found in Decentraland — a famous Metaverse world — sold for nearly $2.5 million.
What are NFTs?
To put it in third-grade language, NFTs are digital currency or tokens that represent something.
They are stored on a blockchain, and they are intangible items that the user has full ownership of.
This can be a piece of art, a song, a photo, and, of course, a piece of digital land.
Why would anyone buy digital real estate?
Is this legit or a scam? Well, the truth is it’s very real.
People who invest in tons of digital plots of land see it as an investment vehicle for the future. Investing in digital real estate can diversify your portfolio and increase your income potential.
You can receive compound returns that quickly multiply and then sell for tens of millions of dollars.
How do I get into digital real estate investing?
Firstly, you’ll need to get your hands on non-fungible tokens. Purchase cryptocurrency by downloading an app like Coinbase, where you can buy and sell crypto. This digital wallet allows you to purchase cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more.
Depending on the digital real estate you want to invest in, you’ll have to search for a particular Metaverse. Platforms use different Blockchain networks, so you have to find the marketplace to buy from.
Marketplaces include Decentraland (the largest one), Superworld, Somnium Space, The Sandbox, Upland.me, and OpenSea.
Once you have your digital wallet ready and you’ve chosen a buying platform, you can find a plot of digital land you’re interested in, click “buy”, and now you own a piece of digital real estate. If only real-world real estate was this simple!
Once you’ve located and bought your item, the recorded transaction on your wallet then generates an NFT title to the property, and it’s all under your ownership.
Digital real estate investing pros & cons
Pros:
- You can create communities and trade NFTs in a digital marketplace;
- Own your land;
- Buy land for less now, and it will appreciate in the future.
Cons:
- If the marketplace goes bust, you may lose all of your investment. That means it’s not safe to store all of your NFTs in one digital wallet;
- Overall, it can be a risky investment and a volatile decision;
- It isn’t legitimately regulated in any way.
All in all, digital real estate is a rapidly growing industry with immense investment potential. While there are risks associated with any type of investment, the potential rewards for those who invest in digital property early on are enormous.
This NFT stuff is so cool that I plan to drop a 10X NFT Collection!
Grab your virtual ticket to 10X Growth Con 2022 and I’ll also add your name to the waitlist so you’ll for the first to know when I release it.
Disclosure: This content is intended to be used for educational and informational purposes only. Before investing, you should always do your own analysis based on your own financial and personal circumstances before making any investment. Grant Cardone is an industry expert who has been investing for over 30 years and his opinion is based solely on his own personal experience and circumstances. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment. Investment involves great risk and there is no guarantee of performance or results.
We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.
