Virtual currencies are difficult for many to comprehend, so educating them about a virtual city (such as Decentraland) that can only be entered via a digital-currency toll presents an even greater challenge. To put things further in perspective, according to a 2021 report from Cardify, only 16.9% of investors who have purchased cryptocurrency "fully understand" its value and potential, while 33.5% of buyers have either no knowledge or only an "emerging" level of understanding.
According to Jessica Stocker, people are excited about the prospect of crypto because ever since it entered the scene crypto has enabled people to reimagine their financial futures more equitably by removing transactional intermediaries while also acting as a hedge against inflation.
Jessica Stocker is a highly successful real estate agent who recently started to take an interest in the emerging real estate markets of the Metaverse’s virtual worlds such as Decentraland and The Sandbox. As she explains, she sees this as the opportunity to contribute to the development of a new, potentially life-changing technology. "At the age of 20, I joined a prestigious Beverly Hills real estate team and worked in real estate for three years before venturing into the Metaverse," she says. "I believe that virtual real estate and Metaverse are exciting concepts that, down the line, could evolve into something that will ultimately change the way we live, work, and earn money."
Jessica Stocker is a highly successful real estate agent who recently started to take an interest in the emerging real estate markets of the Metaverse’s virtual worlds such as Decentraland and The Sandbox.
Stocker further explains that the concept of virtual real estate is similar to real-world real estate. In real life, the ownership of real estate property is offered through a property deed. Comparably, the ownership of virtual real estate property in Decentraland is offered through NFTs. "From real estate to collectibles and wearables — everything and anything bought in Decentraland is an NFT," she explains. "What makes NFTs, or non-fungible tokens, special is the fact that they are completely unique. For example, cryptocurrencies like Bitcoin or Ethereum are fungible — one Bitcoin is equal to every other Bitcoin. Each NFT, on the other hand, is unique and irreplaceable and contains a non-transferable identity. In simpler terms, if you own an NFT, nobody else can own an identical one."
As the Decentraland team explained in the 2017 WhitePaper, the "[l]and in Decentraland is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract." Adjacency is another feature that is unique to Decentraland that helps enable "physical clusters of communities." Parcels of land in Decentraland can only have a fixed amount of adjacencies. You can think of it this way. A website can have as many hyperlinks to external sites as the web designer would like. However, if that website were a parcel in Decentraland, there would be a fixed number of hyperlinks that would be allowed. This helps content creators establish districts, and it helps users to explore and discover themed experiences.
"For me, this is one of the most important qualities of Decentraland as it opens so many new doors and business opportunities," says Stocker. However, Jessica Stocker points out that while the technology is interesting, it's still new and that without a doubt carries a certain amount of risk. On top of that, it's important to note that Jessica Stocker is not a financial advisor, and that anyone who starts investing does that on their own accord.
While I want to encourage people to get involved with Metaverses like Decentraland and I educate people about how to get started with virtual real estate, I need to point out a few things. The technology behind Decentraland is new and is constantly changing, and it can evolve into something completely different from what it is today," says Stocker. "However, those who are still interested and brave enough to take a leap of faith are welcome to join us."