Here's how DAOs are making the digital earth more accessible to the people of Metaverse

Decentralized Autonomous Organizations (DAOs) are individuals who collectively organize themselves in social applications and blockchains...

Decentralized Autonomous Organizations (DAOs) are individuals who collectively organize themselves in social applications and blockchains to pursue common goals and interests.

As the direction of the Metaverse continues to mature, DAOs are rallying around the prospect of using and investing in the Metaverse. See that Goldman Sachs put an $8 trillion valuation on the industry, eyes and ears have been on the possibility of accessibility, usability and monetization of these virtual worlds.

Owners of digital lands in the Metaverse tout some of the most recognizable names like Adidas, Nike, Snoop Dogg, and JPMorgan. These entities are investing in the digital world and align with the movement towards Web3 to better connect with consumers.

However, the biggest barrier to joining the digital rush is cost. DAOs seek to create fairer ways to invest in and use these virtual worlds.

DAOs could potentially help bring new entrants into Web3 in a substantial way by making engagement with the digital world more accessible. This means exploring ways to share, rent and invest in the digital lands of the metaverse.

NFTs are the new keys to digital territory

In 2021, the two largest metaverse platforms, Decentraland and Sandbox, achieved a combined total volume of approximately $460 million in digital real estate. These aren’t the only metaverses users turn to. Blockchain games like Axie Infinity build their respective metaverses into their terrestrial gameplay in order to generate valuable resources.

At the current prices of digital land across all metaverses, however, many investors are priced out. In Axie Infinity, the cheapest land is around 2.2 Ether (ETH), or $5,550, and the most expensive currently stands at 10,000 ETH, or $25,254,275. The price range corresponds to the speculative value of the land depending on its location. Similar to real-life real estate, location has a lot of value in the metaverse, where users try to strategically position themselves to benefit.

Land in Axie Infinity should not only provide means of passive income via its governance token, Axie Infinity Shards (AXS), but will also be a beneficial way for players to harvest resources to improve their in-game characters. Knowing that land is critical to gameplay, community members have come together to form the non-fungible token (NFT) AxieLands (AXL) to allow gamers access to digital land.

The premise of AXL is that it acts as a sort of access pass to the digital terrain purchased by the AXL NFT team. A community member could purchase an NFT for 0.1 ETH ($252.15) to then gain access to any land purchased by AxieLand NFT. The AXL NFT team intends to purchase 110 plots of land from Axie Infinity, ranging from less valuable plots to premium plots. Although the project is still in its infancy, working on legal parameters before formalizing itself as a DAO, the AXL NFT model is best for gaming guilds.

Tailored specifically for terrestrial gameplay, other projects incorporate rental strategies to provide access and monetize these digital assets.

Related: The Metaverse Is Booming, Revolutionizing Real Estate

Investors can lease digital land for passive income

Beyond gameplay functionality, the digital earth in the metaverse offers endless possibilities, especially depending on who buys and builds it. As such, LandWorks is a community marketplace on the Ethereum network. It established a model for digital landowners to lease their respective plots, while users can enjoy a cheaper entry point without long-term waits.

The LandWorks model is simple for creating capital efficiency in the metaverse. Similar to the accommodation marketplace and the Airbnb platform, LandWorks leverages its community marketplace so users can browse for land they can rent. Powered by EnterDAO, LandWorks is governed by the native ENTR token, through which lenders can mine the token through Synthetix staking rewards.

Currently, only Decentraland landowners are supported on the platform, but this may change in the near future. The EnterDAO is all about the Metaverse as it complements its rental marketplace with its other product, Metaportal, a hub for all Metaverse games and events.

DAOs unite to turn metaverse real estate into investments

PangeaDAO, a metaverse land cooperative, aims to create more equitable virtual worlds in the metaverse by democratizing ownership of digital land. The treasury of PangeaDAO, governed by its community, is the capital in which the DAO will acquire real estate and digital assets. PangeaDAO will manage a diverse portfolio within the metaverse that members can benefit from by owning, operating and financing income-generating land.

Unlike AxieLands NFT and LandWorks, PangeaDAO is a slightly more passive way for investors to gain exposure to the Metaverse but is more encompassing in how it intends to generate revenue in the digital field through its partnerships and investments.

Although operations, functions, and value distributions in DAOs are still in the early stages of development, teams of like-minded individuals are working on the future of the metaverse and its placement in the nascent ecosystem more large.

Investors are now entering new frontiers with the next iteration of the web via DAOs as a way to sort out the entry point to the metaverse. Although DAOs and Metaverse developments are still a long way off, it seems like the time has come to invest and build towards more accessible digital worlds.

Warning. Cointelegraph does not endorse any product content on this page. Although our goal is to provide you with all important information we may obtain, readers should do their own research before taking any action related to the company and take full responsibility for their decisions, and this article cannot not be considered investment advice.

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Newsrust - US Top News: Here's how DAOs are making the digital earth more accessible to the people of Metaverse
Here's how DAOs are making the digital earth more accessible to the people of Metaverse
Newsrust - US Top News
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