Virtual or Metaverse real estate is a new phenomenon that is taking over the world. And OVR Land is one of the hottest properties in the virtual real estate market right now. In this article, we will talk about OVRLand, what it is and how much it costs.
What is OVR Land?
As you probably know, OVR is an AR platform that aims to merge the real and digital world. OVR stands for Over the Reality and this AR app allows you to explore a layer of virtual world on top of the real world.
The OVR Metaverse (digital layer) covers the entire world’s surface and is divided into hexagon-shaped plots called OVR Land. In total, there are 1,660,954,464,112 (1.6 trillion) OVR Lands, each with a dimension of 300 Square Meters.
Each hexagon (OVRLand) has a geographical position and depending on where you are, OVR presents you with fantastic augmented reality experiences. These OVRLands are NFTs on the Ethereum blockchain that represents the ownership of virtual land.
Like The Sandbox and Decentraland Metaverses, users can create digital experiences, place them on their OVRLand and monetize it. Moreover, you can earn money (OVR tokens) by selling your OVRLand on the marketplace or renting it out to others for placing their content.
Read More: The Sandbox Vs Decentraland: Which Metaverse Is The Best?
How Much Does OVR Land Cost?
Compared to The Sandbox, Decentraland and Axie Infinity, land in OVR are relatively cheap. You can buy OVR Lands using OVR Tokens. To purchase land, you need to participate in an OVRLand auction.
If you bid for a land in an area where no land has been bought, the base price will be $10. However, if you bid for a land in an area with high demand, the base price will rise accordingly, to a maximum of $100.
Presently, the price of OVR Lands is affordable but it’s expected that it will rise as more players come online. You can buy land from the OVR Marketplace as well as the secondary marketplace, OpenSea. Go here to find a simple guide on how to buy land in OVR.