Monday, September 25, 2023
HomeOpenseaParcel Challenges OpenSea in Bid to Rule Virtual Property in the Metaverse

Parcel Challenges OpenSea in Bid to Rule Virtual Property in the Metaverse

In the future, we will always connect to the Metaverse, just as we all currently connect to the Internet.

At the very least, it’s Parcel’s paper, “Zillow in the Metaverse,” which aims to put together all the information that virtual landowners may need to know about their property. “Metaverse is the evolution of the Internet,” CEO Noah Gainer told Defiant in an interview.

parcel Framework Ventures, Distributed Global, and Sfermion.. Its long-term vision is where the virtual real estate tycoon can go to get all the services needed to manage his holdings. You can think of this as a kind of directory of projects that people are building in an organic metaverse (rather than a company). The person who bowed comes Immediately from Menlo Park).

Competition with OpenSea

Currently, Purcell is entering the resale business. “We are launching a market,” Gainer said. “We compete directly with OpenSea. Grand Vision: We want to be a niche market for virtual land users.”

The parcel website marketplace should start with a list of offerings that parcel itself launched this week. The site has already aggregated lists from other marketplaces and its tools can be used to help buyers and speculators determine if they are really interested.

A virtual land is a type of non-fungible token (NFT) that specifies a type of asset in a virtual world. Decentraland also Crypto voxels.. As an NFT, the main way to buy and sell these real estate NFTs is OpenSea, the main market for unique tokens.Just as the niche markets for collectibles and outdoor gear are difficult to compete with. With eBay, It will be difficult to compete with the OpenSea we have seen so far. Volume exceeds $ 10 billion Since then in Ethereum August..

Niche marketplaces can create user experiences specifically created for specialized products. This is convenient, but large marketplaces have the main thing sellers want. It’s a buyer.

A big draw for buyers

Gainer argued that the virtual land-focused market in Purcell has three specific features that can help make it more attractive to serious buyers in this market. First, because it’s designed for virtual real estate, you can easily see your land on a map with a useful dataset of its features.

Second, Parcel, in contrast to OpenSea, does not incur sales commissions. 2.5% charge.. Gainer is betting that the level of savings will be a big attraction for buyers. ;

Finally, Parcel has built a customized smart contract for sale. It states that Gaynor beats OpenSea with gas efficiency and saves a small amount of buyers.

This year, Parcel is not the first company to follow OpenSea. Infinity announcement Challenge market leaders by sharing revenue with users through tokens.

Similarly, lack of fees raises the issue: how is Purcell going to make money? “I can’t talk about tokens, etc., but I hope someday I’ll reward early users,” Gainer said.

“The really big part of what OpenSea doesn’t offer is this really rich dataset. Maps. User experience features. There’s no good place to look at virtual real estate data and trends,” Gainer said.

For example, a user who already has land can plug in his wallet to see where all his land is on the map for the new parcel under consideration. Andrew Steinwold of Sfermion told The Defiant in an email that Parcel has come a long way to improve the readability of the Metaverse. This will bring the scale needed for more people to participate and reach their full potential.

Virtual building

“The most important factor about blockchain-based virtual worlds is that they are essentially user-owned and managed. Users buy land, create content in these areas, and platforms. We are directly typing in the increase (or decrease) in overall value, “says Steinwold.

In the long run, Purcell helps landowners with other problems, such as finding a land service provider, advice on developing land, and even renting to others. “There are many reasons to come to a parcel other than buying and selling a parcel of land,” Gainer said.

For example, he said, many landowners are now looking for architects to design virtual buildings for their property. Purcell is also intended to help landowners establish this type of connection with the aim of fixing the stickiness of the user.

Convenient NFT

Gainer was the first to admit that it was a very early stage of virtual land. “Honestly, these things aren’t yet a completely vibrant economy,” Gainer said. The Metaverse activity has been “very experimental” so far and is not very profitable. It’s like entering Ethereum in 2017, when many people were raising money to do things in Ethereum, but in reality they haven’t done anything yet.

Still, what excites Gainer and the Purcell team is the idea that these NFTs are the beginning of something. Gainer likes to use the term “utility NFT”. Because people can build on parcels and do things on parcels. “It’s all about practicality. That’s what excites us most. These are useful NFTs and game changers, as opposed to boring apes for me,” he said.

Read the original post Rebel..

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