Virtual Reality world is gaining attention because more users are joining the online platform. Even though it’s not widely recognized VR is now becoming a source of income for some people. This has helped to headsets and platforms to continue gaining more acceptance. The Virtual Reality space has now led to the rise of a new asset the Virtual Land Sale. This is becoming possible because of Blockchain technology.
Since 2003 many companies like the developers of Second Life, Linden Labs had already started monetizing virtual Land Sale and buying for content Virtual Reality users. In Virtual reality, users create wealth from virtual content. The content is created on the platform, and they have copyright ownership making them virtually own what they create.
Blockchain inclusion in Virtual Reality Ownership
Blockchain has now joined the virtual reality platform. Linden Labs is using its technology to ensure virtual land ownership. This is in an effort to make users own the platform themselves. The blockchain is also using proprietary currency as internal monetization platform. The first Virtual Land ownership sale will be made in December during the sale of ‘Genesis City’ within coordinates (0, 0).
Through Blockchain technology the ownership aspect of the property is protected as well as fights of the parcel.In each land parcel, users can create and monetize any type of rights for the parcel. This had come at a time when people believed it was just a matter of time before blockchain was used to record property. However, there are people who are against the Virtual Land ownership and have warned people against it. The Virtual World is however expected to adopt the concept and move on with it.
Linden Labs has however assured all the interested people that the process will be straightforward and much protected. The company has insisted that the Blockchain technology used is well tested and secure.