Next Earth is a blockchain-based virtual Earth that allows users to buy and trade virtual real estate NFTs. The project raised over $1.3m in an ongoing ITO sale of non-fungible tokens, each representing 10×10 square meter tiles of land on the planet Next Earth.
Next Earth has already attracted hundreds of users since its launch. In this article, we’ll look at what makes Next Earth different from other metaverses, how it works, and whether it’s worth investing in early-stage crypto projects such as this one.
What makes Next Earth different?
What makes Next Earth different is that it’s the only decentralized virtual land platform on an exact copy of the Earth.
While projects like Earth 2 have also created a virtual replica of Earth, they’re centralized, which means that player assets bought with real money are not truly in the hands of users. Further, they’re not blockchain-based NFTs, which means that land tiles can be digitally replicated.
Next Earth is a virtual land platform that enables users to buy, sell, develop and trade one-of-a-kind virtual real estate. The platform uses blockchain technology to maintain a digital ledger of ownership for its users.
The concept behind NFTs is simple: they are unique digital assets that can be traded on blockchains like ETH without relying on a centralized authority like banks or governments to verify their value. This makes them an attractive alternative payment method for online transactions because they don’t require third parties to validate their value or legality.
In addition to using NFTs as the primary currency, Next Earth also plans to offer several different types of virtual land assets, including virtual office space (the equivalent of real-world Commercial Real Estate) and pixel-based land art.
Each type has its own set of benefits and drawbacks when compared with traditional forms of property ownership. For example, virtual office space units have fewer restrictions than physical offices, as they’re not limited by physical constraints.
How does Next Earth work?
As mentioned earlier, Next Earth is a blockchain-based replica of our planet built using NFTs (non-fungible tokens), which are unique digital assets made using ETH’s ERC721 standard token protocol.
Each parcel of land on the planet is represented by an NFT called a tile. Unlike many other NFT projects, these tiles are tied to the real world, not only the digital world. The value of a single tile is determined by the marketplace, which is expected to value tiles in a manner correlated to their real-world value. For example, you could buy a virtual replica of the White House or even Playboy Mansion, and you’ll be the sole owner, making these assets potential investment opportunities.
The project has an ambitious goal: to create a fully decentralized virtual world with no centralized servers, where users can interact with each other freely.
Next Earth’s long-term vision is to build a new kind of social cyberspace that combines blockchain technology with augmented reality (AR) and virtual reality (VR).
Next Earth in the News
Beyond its highly successful ITO and ongoing capital raise, Next Earth has been red-hot in metaverse and NFT community circles.
For example, in a Cryptopunk video, crypto YouTuber Lav gives an overview of Next Earth, and why he bought in. Next Earth has even been featured by Korean influencers like XR Life and Metaverse Forum.
Besides these crypto-focused outlets, Next Earth is also popular in traditional media circles, from Marketwatch to Yahoo Finance.
To join the exciting Next Earth community, you can join their Discord and take advantage of the community reward system, which will provide you with free virtual real estate for being an active member.