The metaverse is a term coined by Neal Stephenson in his science fiction novel Snow Crash. It refers to a shared virtual world, where users can interact with each other and with computer-generated objects and environments. The metaverse is often compared to the internet, but it is more immersive and interactive than the internet as we know it today.

A key component of the metaverse is the virtual earth. In the metaverse, virtual land is analogous to real world property. Users can buy, sell or lease virtual land. These transactions are stored on a blockchain, allowing for trustless transactions between parties.

The value of virtual land comes from its scarcity and its usefulness. Just as there is a limited amount of land in the physical world, there is a limited amount of land in the…