Finance Monthly - December 2022

Get a wallet Purchasing a metaverse property means that you are purchasing a digital land deed. The deed itself is a unique piece of code which stores all of the transactional history and values of the property on the blockchain, verifying your right to ownership by adding a layer of code. In order to complete a transaction (whether it be buying the deed or selling the deed on) you will need a digital wallet that is compatible with the specific cryptocurrency that the particular metaverse platform uses. Until you’ve selected and set up the right kind of wallet and relevant cryptocurrency, you will be unable to make any investments - so be sure to do your research and have everything in place. Choose your metaverse platform wisely As in the physical world, location is important when choosing your virtual HQ. Naturally, there are influential factors about a place that we weigh up when considering where to live. It’s the same with the metaverse. As with physical property, the value of digital land can fluctuate according to the popularity of its location. Factors such as brand and influencer interaction, user engagement, gamification and creative initiatives within a particular metaverse will all play a factor in determining the value of your digital property now and in the future. Don’t go in blind It might sound obvious, but it’s true: know what you’re buying. Firstly, are you buying a plot of land on which you can build a property? Or are you buying a property that is already built? If you’re buying a plot of land without a property, what kind of property are you going to build? Are you familiar with the architectural design tools that will allow you to build something competently? Are you planning to buy a home that your avatar settles in, or are you investing in a property that you plan to develop, customise and either rent out or sell on? These are all questions you should ask yourself. As within the physical world, having a clear strategy for your purchase is totally necessary. Consider utility Remember that a digital property and its accompanying land deed is a type of NFT. The greater utility an NFT provides, the more valuable it can be. With digital property utility can come in many forms. The most obvious would be their foundational traits such as flexibility to design and build on and also having space to showcase digital artwork. A metaverse platform might also add exclusive perks to your land deed, adding unique traits and boosting its value. For example, owning a property in a more desirable location might afford users the luxury of having rights to vote on conditions and procedures of that particular metaverse, or perhaps having access to useful resources that can be deployed in gamified aspects of the space. Finding out the utility that your land deed provides should be a priority in your purchasing decisions. Interested in making your first acquisition? Sign-up to the Virtua Prime white list to learn more. Finance Monthly. F i nanc i a l Innov a t i on & F i nTech 39

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