10 Mar 2021 18:12 IST

Many are buying virtual real estate on Earth 2

Earth 2 is a futuristic concept for a second Earth, where virtual land can be owned, bought, and sold

The phase 1 of virtual 1:1 scale version of Earth is live. People are buying digital assets and property inside this futuristic virtual metaverse of Earth using real money. According to the developers, this is how it works: “We have created a geographically linked digital grid layer that spans across the entire planet allowing people to claim ownership of virtual land in the form of tiles. It is our vision that virtual land will increase in value over time based on demand, location and earning potential, much the same way that physical land does.”

The official website states that Earth 2 is a video game, similar to Ready Player One, that will use the power of AR/VR to allow players to sign in to the platform to buy, sell, or trade land. The developers claim that in the next phase, it will open up new avenues of value creation where users will be able to mine resources, rent properties, earn income taxes, or even earn cash from advertisements on your land. Unlike bitcoin, the developers don’t claim for this game to have any utility in the real world. Much of the hype surrounds the idea of buying properties in world’s famous cities and building a community.

Read more about it here: https://earth2.io/