Crypto OVR: Invest in real estate 3.0
Ever since Facebook changed its name to Meta, in reference to ‘Metaverse’, many people have been asking: what is a metaverse? This question has probably crossed your mind too, and we’re going to answer it straight away. A metaverse is defined as a virtual world created artificially by a computer programme. It hosts a community of users who can move around freely, carry out activities and interact with each other in the form of avatars.
Accessible via virtual or augmented reality headsets, metaverse has become a real hit. So much so that major companies such as Microsoft, Walmart, Samsung, Carrefour, Nike, Shopify, McDonald’s and Starbucks have decided to invest in these virtual worlds. In this article, let’s find out why real estate has a place in metaverse, and why the OVR crypto project is relevant to the current trend.
The dawn of a new world
A digital society
Digital technology has never been so present in our lives. Since the advent of the internet and new technologies, we live in an era where society is constantly aligning itself with digital technology. The goal is to take advantage of the many benefits that digital technology has to offer. As proof of this, everything that was once tangible is no longer so today. The Walkman has been replaced by our smartphones, road maps by Waze, faxes by Gmail and VHS cassettes by Netflix. The more time passes, the closer we get to digital technology. Whether it’s for work, consumption, information, communicating with our loved ones or entertainment.
The transition from 2.0 to 3.0
The emergence of metaverses and the increasing presence of virtual and augmented reality headsets that enable access to them, reinforces this phenomenon. This suggests that in the next ten years or so, people will be spending a good part of their time in these digital worlds, doing the same things they used to do on their screens. So we’re moving from 2.0 to 3.0.
By 2030, the metaverse will be part of everyday life
According to a study by Citibank, by 2030 no fewer than 5 billion people will be using the metaverse in their daily lives. The bank therefore estimates that the metaverse market will be worth between 8 and 13 thousand billion dollars by the end of the decade. But what does this have to do with real estate? Don’t panic, that’s precisely what follows.
Real estate in the metaverse
Virtual land
Where there’s a virtual world, there’s bound to be virtual land. As a result, given the growing number of people living in the metaverse, many people have bought virtual land to sell at a premium. For example, in one of the most popular metaverse on the market, Decentraland, a plot of land sold for a record 2.4 million dollars.
A study by Cornell University estimates that between December 2019 and January 2022, the price of plots of land in the metaverse The Sandbox, Decentraland’s major competitor, increased 300-fold. It’s hardly surprising that the American real estate company Republic Real bought virtual plots of land in The Sandbox for 4.3 million dollars.
3.0 estate agencies
The strong development of this sector has given rise to the world’s very first 3.0 estate agency. Called Voxel Agency, it helps customers buy, sell and rent plots of land in the metaverse. At the same time, another virtual real estate company, Metaverse Group, has been bought out 50% by the Canadian company Token.com for 1.68 million dollars, to act as a real estate management company, as well as a marketing and promotion company in the metaverse.
Thoughtful investment
Clearly, the property market is beginning to take on a new look. Although it’s quite avant-garde, several companies have invested considerable sums in the metaverse and therefore in this real estate 3.0. This should be a wake-up call as to the potential of this sector.
Indeed, these companies have resources that we, as individuals, do not have. Before investing, they have financed and carried out in-depth research to find out whether it will really benefit them in the long term. They have a well-defined strategy and never do anything haphazardly. So if they have decided to take a serious look at this sector, it’s for a good reason. That’s why it’s so important to be alert, to make sure you don’t miss out on any opportunities. With this in mind, let’s move on to the presentation of the OVR crypto project.
Introducing the OVR crypto
What’s OVR?
OVR (Over the Reality) is an open-source platform for augmented reality on a global scale, based on the Ethereum blockchain. As a reminder, augmented reality is a technology capable of superimposing the physical with the digital. This creates the illusion that the real and the virtual coexist in the same space. The platform is accessible to anyone with a smartphone or augmented reality headset.
The OVR ecosystem
The OVR ecosystem is based on a grid of hexagons covering the entire surface of the Earth. These hexagons are virtual terrains known as OVR Lands. They all have a specific geographical position and a standard size of 300 square metres. The total number of OVRLands is 1,660,954,464,112.
How does the platform work?
Once you’ve downloaded OVR, all you have to do is look at the environment you’re in through your phone’s screen to see the famous hexagons. A bit like Pokémon Go, except that here the Pokémon are virtual lands.
Later on, you’ll be able to buy virtual plots of land in your town or neighbourhood, for instance, as well as plots where monuments have been built. So you can buy the Eiffel Tower or the Arc de Triomphe. You can also buy land abroad, thanks to a map showing OVR Lands all over the world. You can therefore own land in New York or Tokyo.
OVR Lands features
Singularity of virtual land
OVR Lands are literally NFTs. If you don’t know what an NFT is, I strongly recommend this article: https://coinaute.com/les-nft-cest-quoi-le-temps-vous-lexplique/. Each land represents a unique digital asset with its own specific characteristics. This function offered by blockchain technology guarantees that the buyer is the sole owner of the land. What’s more, the decentralised nature of blockchain prevents anyone from stealing your land.
Free use of our land
The owner of a virtual plot of land on OVR can freely interact with their property and install whatever they wish. The possibilities are numerous and almost infinite, as long as the imagination of the landowner is equally so. So you can decide what kind of experience visitors will have once they set foot on your land. It could be festivals, virtual art galleries, animated 3D stages, new buildings, DJ parties and so on.
Opportunity to sell, buy and rent
Owners of OVR Lands can rent out their land to advertisers and earn money in the form of cryptocurrencies. Although rental market prices are still difficult to estimate, we can nevertheless anticipate a growing demand for commercial space, given the rise of the metaverse market. So it’s easy to imagine that communications agencies will spread out across the metaverse, organising events of all kinds or displaying their advertising. Finally, owners can buy and sell virtual land on a dedicated marketplace called OVR Owner.
OVR crypto
The OVR crypto is the platform’s exclusive currency. It enables users to carry out all kinds of transactions. Whether that’s buying virtual land or receiving rental payments. Although the cryptocurrency is based on the Ethereum blockchain, known for its high transaction fees, OVR is compatible with the BSC (Binance Smart Chain) blockchain, a blockchain renowned for its very low transaction fees.
Currently, OVR is worth €1.31. With a limited money supply of 110 million units, it’s easy to guess that the cryptocurrency follows a deflationary model. Hence, favouring long-term capital growth for holders. The OVR crypto has a capitalisation of €37 million and a daily transaction volume of around €850,000. Finally, it is available on the following platforms: Gate.io, BKEX and MEXC Global.
Is OVR crypto worth investing in?
So far, the metaverse market is booming, and OVR is riding the wave. Investing in your cryptocurrency, rather than spending your time looking for the most profitable virtual land, is still very relevant. Especially as it limits the risks if you have no knowledge of real estate or metaverse. Add to this the fact that the OVR crypto is quite affordable. This suggests that its value is still undervalued by the market, relative to the potential of its project. It is therefore, at first glance, a real opportunity.
Moderate your risk
Before taking the plunge, however, be careful. Don’t put all your capital into the OVR crypto, hoping that it will explode and make you millions. The cryptocurrency market can make you a lot of money, but it can also make you lose a lot. So it’s best to invest in moderation to temper your risk-taking.
