Earth 2 Metaverse: A Dive into Buying and Trading Virtual Lands

Editorial
16 Min Read

Earth 2 is a newly emerging metaverse platform where users can buy and trade virtual lands with a whole ecosystem and an NFT marketplace. It is basically a mirror image of our planet earth but in digital form. People can purchase these plots and build their own virtual space based on their preferences without any limitations. 

Gaining fame from young investors on Reddit and TikTok a year ago, this metaverse platform took over the world by storm but also went through some scandals that affected its popularity for some time. This article dive deep into the world of Earth 2: 

EARTH2

The hype over buying virtual real estate lands hasn’t stopped as people invest thousands of dollars in it. A study by a Web3 firm Grayscale claims that the virtual world is expected to expand into a trillion-dollar business in the long run. 

So a lot of people are purchasing a digital plot today at the right platform because they believe this will eventually turn into valuable asset property for the investor in the next decade or so. 

For creators and builders, this space is an ideal place to kickstart their careers in the metaverse. Let’s take a look at what’s all the hype over Earth 2.io and why it is a good investment. 

Introduction to Earth 2 NFT Land

Earth 2 is a virtual Mercator projection of a global map using MapBox technology that is cut into 10×10 meters square grids of approximately 5.1 trillion unique tiles with distinct combinations of characteristics divided into four classes (Class 1, 2, 3, and 4), which makes them different from one another. 

TO BE CLAIMED

Earth 2 NFTs give the owner the ability to see the property size, value, trading history, ownership details, purchase status, and property land title editing to ensure whatever land they invest in has a demand and utility in the long run.

Just like other metaverse lands, this platform also has some popular spots that are already sold out because of their value in the real world. Earth 2 NFT is built with a 1:1 scale with earth, so it makes buying virtual land even more meaningful. If you cannot buy physical assets, you can always pick a digital land to invest in. 

When compared with other virtual real estates, Earth 2 gives a good amount of space for owners to build their own worlds without any restrictions; some people even called it the next Bitcoin

Earth 2 is the future of virtual geography 

Who built Earth 2 Metaverse

Earth 2 was founded by CEO Shane Isaac along with a team of builders in 2020. It is managed by expert software engineers who have background experience in real estate, game development, virtual reality, and software development. 

Earth 2 is mainly built in partnership with Mapbox and 5CA, and the team has also announced they utilize the E2 Terrain Engine to create a more realistic geolocated 3D environment.

YOUTUBE
Source: YouTube

How does Earth 2 work?

Earth 2.io is a futuristic concept of the second earth where real-world geological locations are user-generated worlds. The team has basically laid each tile on a grid by using satellite data of the earth. 

The game isn’t built on a blockchain but recently announced a partnership with Polygon Studios to bring the metaverse to Web3 and utilize the scaling protocol to convert in-game assets.

Users can use fiat currency through PayPal or a Debit/Credit card to purchase land, making it easier for non-crypto Web2 users to adopt this new concept quickly.

The platform has its own currency called E$ which is equal to 1 USD. The white $E means the amount of liquid money you can withdraw from the account while the orange $E is the net worth of tiles and cannot be withdrawn. To earn money, the users are supposed to sell their tiles for white money. 

 The game has plans to create its own cryptocurrency called Essence enabling online transactions with digital money but so far only traditional currency is used to buy or earn. Right now, Essence is available but only shows how much one holds. 

Additionally, there are land classes divided between 1 to 4. Class 1 is considered the initial land when the country was launched and will have more utility in the future. At present, class 1 pays owners in small dividends called Land Income Tax.

Phase 1

Currently, the game is in Phase 1 in which you can buy land priced on the basis of the tile’s geological location, meaning if a user buys a plot somewhere in the United States it will cost high compared to purchasing one in third-world countries. 

Major locations and cities have already been bought out by investors. Developers claim that the prices are based on an algorithm that is open-source, meaning it can be controlled by the players and developers too. 

Upcoming Phases

According to game developers, Earth 2 metaverse will continue development in the near future with more features for owners on the platform. 

As of now, users can only buy land through the satellite view of the planet but Phase 2 will introduce Resources and Essence for economic purposes. The land will hold value based on where it’s located and what’s inside it for reproduction. Every tile will have utility no matter where it is. 

Although there is confusion about whether these resources will only be available based on real-world locations. These will be randomized but if someone buys a goldmine, then they will receive the benefits of owning it in later-tier developments. 

In Phase 3, the developers will use a 3D Terrain system to make it compatible beyond a browser to gaming consoles and other devices for an immersive experience. The platform will also launch easy-to-use tools that will be used for building structures and assets on virtual land.

Resources

Resources can still be generated to earn white money and develop your land. One thing to note is you can generate valuable resources on T1 while on T2 they are either not available or unpredictable. 

These resources hold much importance as they continue to overall money-making and increase the land value as time passes by. They can also help in earning Essence, the cryptocurrency but there are certain steps to follow before you get it.

Earth 2 E-ther

E-ther is basically a gas that is emitted from the tiles at computer-generated intervals all over the digital world. The raw gas needs to be refined into Essence or else it will evaporate in 48 hours. 

The steps to conserve this gas is to log in every day and click on Refine to convert it into Essence. 

Mentars

Since it’s hard to log in every single day to claim Ether, Mentars are developed that automatically gather the gas even if you don’t open the browser. These tools are created mainly in two ways, first is to login in 7 times and you will be rewarded Mentars for free for 14 days, and the second is to buy Mentars from the marketplace for 5 USD; however, these Mentars are bought per property.

Slotting

Along with Mentars, there’s another element called Slotting the Jewels. When collecting Ether, usually it’s easier to claim it from small lands but for big properties, it becomes quite complex to detect the higher level of Ether detection. This is where Slotting comes in. 

Big property landowners can Slot the Jewels on tiles after building Mentars which will collect the Ether and convert it into Essence without losing any. 

In simple words,

Mentars > Slotting > Ether > Essence. 

When you sell your land, you can unslot those jewels and put them back in your inventory to use them on other lands. 

Is Earth 2 a good investment?

Earth 2 has a great team and buildup lore but it still has risks. People can always lose interest in the metaverse, the land NFTs might lose value, and there’s a high possibility of it being a waste of money. 

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When considering an investment in Earth 2, you need to keep two things in mind:

  • Buy virtual land at a popular spot: Even if the metaverse might not gain much attention, the popular block will also be relevant.
  • Think of it as a pastime or just for a fun activity: A lot of people think they could make passive income out of it but there are risks to this. 

How to Buy Earth 2 NFT?

Earth 2 NFT is available through the website and it can only be bought using USD. Before you buy you should know the basics of NFT land on this game. 

If you open the main page, you will see countries with flags listed on the top with prices that move up and down similar to how the stock market works. 

There are two tiers of land; T1 and T2. The T1 is the initial land that cannot be bought so they have a higher value, while T2 is the land currently available for sale. Note that the Land Tier is separate from the Land Class. All Lands on Earth 2 are divided into T1 and T2 while land class is between 1 and 4. 

Here’s how to purchase:

  1. Go to earth2.io and create an account 
  2. After completing the sign-up process, click on Buy Land from the top menu. 
  3. A Satellite map of Earth 2 will open up and you will see different lands
  4. You can use the filters located above the map to view your preferences. The “Heatmap” shows the place where lands are being purchased the most, the “Prices” indicate plots with prices, and “3D” gives an immersive view of the location. 
  5. You can also search a certain city, country, company location, or space to find a specific land you want to buy
  6. Once you find your favorite land, click on the Satellite option from the filters and you will see a tile view of the space. Buying land is based on how many tiles you can afford.
  7. To see the rate, you can drag the number of tiles you want and the website will show you per tile price automatically
  8. Once you’ve finalized, click on More details and then Buy Now

Another way to purchase land is through the Marketplace where the tiles are at a secondary price sold by existing owners. Usually, T1 plots are listed here for sale and you can either buy directly or place a bid based on your budget.  

Earth 2 price per tile

The price of each tile depends on what city or country you’re buying it from. Remember that on Earth 2, the land isn’t on sale, instead, you need to select the number of tiles you can afford, so it’s a per-tile price. 

According to the website, one tile price begins from $0.10 and can exceed the maximum rate if the demand is high. If the tie belongs to T1, then it will be more expensive on the second buy while T2 is comparatively less expensive. 

Similarly, the rates in the US will be higher than in India but the popular spots in all countries will be expensive. 

Scandals

Earth 2 has gone through a lot of delays, inactivity, and even allegations of being a scam over the years. These claims aren’t groundless because of the team’s responses to the community.

To be short, although it’s been two years since the Earth 2 metaverse was launched, many users believe there have been no clear developments by the team except a few updates. The company has managed to generate millions of dollars but they haven’t done anything to spend those funds for the project’s growth.

Even now, people are only pouring money into lands with no utility in real-world money-making. Although advocates claim that it should be about building rather than making money, most investors on Earth 2 only put their money because of the profit opportunities. 

Therefore, many people advise users to think of Earth 2 as just-for-fun entertaining gameplay with lore, instead of taking it as a source of passive income.  

Final words

Earth 2 is sometimes called the pre pre pre-alpha version of the metaverse because it’s still in development and isn’t as advanced as other virtual platforms such as The Sandbox. Nonetheless, it’s still a great place for investment if you genuinely believe and have the right strategies to earn money. 

So far, the metaverse has gone through many ups and downs but the team is still actively building and developing the platform. On the other hand, the land prices of major cities and spots have already sold out and investors have been HODLing it for a long time, indicating that Earth 2 might be the ultimate future of virtual worlds and economies.

Note: This article is not financial advice. Take financial decisions at your own risk

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