metaverse: Virtual land turns a genuine article in Indian metaverse

New Delhi: Technology companies and real estate developers expect an expansion in interest among Indians for purchasing virtual property on the metaverse platform. A few organizations have previously arranged virtual urban communities and a declaration by artist Daler Mehndi with respect to purchasing virtual land made buzz among financial backers also said industry leaders.

“This is something which will continue to attract interest. While anyone can create a platform and sell virtual land, the value will depend on how good the virtual world is,” said Ashish Agarwal, fellow benefactor, Lepasa, which is making virtual urban areas.

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The organization intends to make 15-20 distinct urban areas north of 416 sq km, with every city having an alternate subject.

“The land on the metaverse can also be used by brands to build experience centres and retail space to showcase products. People, instead of downloading different games, can play all the games on the metaverse. This will increase the value of virtual land,” said Alok Joshi, fellow benefactor, Lepasa.

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