Virtual real estate NFTs are pieces of virtual land bought and sold in various metaverses. These lands have a limited supply and are bought and sold in on marketplaces such as opensea.io. Virtual land has utiility in one can build revenue generating activites on the land such as creating a game, NFT art gallery, virtual mall, ect.

Think of a metaverse as a video game, but in this video game there is no set oobjective. The only objective is to exist in the game. People make friends, form communities, play games, colaborate on art and gamble. The metaverse is the next generation social network.

Decentraland is a shared virtual world, much like the Metaverse described by author Neal Stephenson in his science-fiction novel Snowcrash or the OASIS described by author Ernest Cline in Ready Player One. It allows users to connect and interact with each other, create content, and play games. Decentraland has a virtual economy where users can engage in a myriad of in-world economic transactions as well as monetize the content and applications they build. Unlike other virtual worlds such as Second Life, it is not controlled by a centralized organization or company.