Earth 2 - Futuristic VR platform or scam?
Earth 2 describes itself as a futuristic concept of a second earth; a metaverse between a virtual and physical reality. The platform has a clear vision for the long-term. It is unlikely that any other concept of virtual worlds has been as successful as Earth 2.
Earth 2 is a vision for an in-game virtual world that builds upon the real earth. It will allow users to trade land and resources and possibly monetize their properties with virtual and real currency. The future will reveal what the world looks like, only developers know.
Earth 2 is much more than a concept. It is a vibrant community made up of traders and believers.
It is not what it wants to be at the moment. Earth 2 is currently a trading platform for virtual goods called tiles. A tile is a 10x10 meter piece of land that has been mapped across the entire planet. A small amount of land can be bought and traded.
What is the difference between buying and selling land?
Claim a spot on the map is the first phase of this project. The Earth 2 world is broken up into smaller pieces. Anyone can buy a piece if they are willing to spend a little bit of money.
It is easy to buy land. Logging on to the site will display a map of the globe, which can be cut into smaller 10x10 meter tiles. To claim your property, you can choose the tiles that are not taken (without a flag) and pay via PayPal.
The land becomes yours from that moment on. The digital receipt is sent to you and it is clear that this land will never be sold again.
You can also buy land from someone on the open market. Marketplace, as it's called in the game provides users with a list of all the available tiles. You can choose to allow others to bid on your land or to set a fixed price.
It works well and you may find some gems even though it is still a bit messy and difficult to navigate.
The different phases of a project
Let's get back to the phases. Three are listed (I believe there were four on the site, but I could be wrong).
1. Claim your land in the first phase
2. The second phase will see the release of resources
3. Terrain - Third and possibly final phase
This is the first phase we are currently in. This is the time to buy your land and to trade it for the best slots. According to inventors, it is important to have areas that are rich in natural resources, densely populated (allowing for the collection of taxes) and have high foot traffic.
However, until the second phase is completed, it will not be possible to determine which resources are most important. It is not known if the resources will be distributed randomly around the world. It's also unclear whether it's better to have infrastructure or a lot.
It is fascinating to see what is happening right now. The new land prices rise for every 100.000 tiles sold in a country. Because we can still purchase tiles from the 100.000 first, second, and third 100.000 tiles sold in a country, new and emerging markets remain relatively cheap. These tiles can be purchased (new) for between 0.50 and $3.00 USD.
Prices rise as more tiles sell.
Being a believer in the platform and a first-mover is a great thing. Because land prices tend to rise with more sales. The value of your property will increase when tiles from the same country are sold. The value of tiles in a country will rise once others offer them on the market.
Is it a scam or a genius idea?
The Earth 2 concept is amazing. Although the site is still under construction, it is very well designed. However, the founding team is strong and respected within the gaming community. Many people have expressed concerns about the sustainability of this project. But I'm open to the idea. While I won't invest in tiles worth tens or thousands of dollars, I am open to seeing how it develops.
No matter what you do, don't put any money into Earth 2 that you can't afford to lose. Inflationary price increases can be a strong emotional trigger. You must remember that this is a game and not a startup. There are many things that could go wrong, and thousands could lose their money if developers pull the plug.
