The digital landscape is changing at a rapid pace. The value of crypto assets has grown from near zero to over $2 Trillion in just over a decade. Startup fundraising has become globalized and decentralized. There’s even more venture capital investment in blockchain companies than ever before. The digital real estate sector is also being redrawn by new applications of blockchain technology. The first use case for blockchain was to decentralize finance. The second is to decentralize ownership of virtual land, which is being pioneered by Next Earth, the NFT-based replica of Earth, where users can buy one-of-a-kind metaverse property. Now, you can buy the virtual Statue of Liberty of White House with a few clicks using BNB. This shift from physical to virtual real estate can be called the “democratization of real estate” and it’s already underway. It all started with the Next Earth ITO, or Initial Tile Offering, in which NFT “tiles” of Earth were sold to the tune of $1.5 million. The ITO will shape the future of both blockchain and the metaverse. Here are some key impacts. The ITO is democratizing ownership of virtual land You are now able to buy your own plot of virtual land in a fully decentralized manner with no middlemen (such as real estate agents or title companies). The Next Earth ITO was the first large-scale application of blockchain technology to decentralize ownership of virtual land on a massive scale. This will enabl...
