A virtual island in the metaverse home to all of the world’s most visited landmarks could soon welcome visitors for just €2.
“VR City,” as it’s called, would be hosted in the metaverse and bring together landmarks including Niagara Falls and the Great Wall of China.
The idea of ”cybertourism” is the latest thing brought to the metaverse as its reach expands.
Virtual reality (VR) is already being used by vacation destinations to attract customers. It is hoped that by removing the traditional travel and entrance fees, the Wonders of the World can be made available to the public in the Metaverse at a fraction of the cost.
“The goal here is to overcome traditional barriers to interaction such as time and space,” says Kamran Choudhary, metaverse expert at digital asset trading service BCB.
“This will allow the public to have alternative travel experiences and services that may not have been available through traditional means.”
Is virtual reality the future of tourism?
Major travel players like Delta Air Lines, Hilton Worldwide Holdings and Qatar Airways have all branched out into VR tourism, while resorts like Disneyland offer VR attractions for the whole family.
Virtual reality travel has also been used to boost business with safaris in Kenya, snorkeling in the Maldives and trips to the Baltic coast of Germany, all offered by eager members of the travel industry. customers and affected by a pandemic.
Could going to a metaverse location be the next step?
The development of such locations certainly offers the possibility of big profits, in theory.
“This VR City embodies a key but underappreciated aspect of the Metaverse – that it’s ripe for building,” Choudary said.
BCB analysts estimate that if the VR City was built, it would be worth almost 3.5 trillion euros based on the exchange rate with the famous blockchain ETH.
“Building sooner rather than later might turn out to be a smart economic choice for many,” said Choudary, who points out that building in the metaverse now, when costs are low, is a smart move for the future.
“This e-tourism destination could be bought by others who see its potential,” he added.
“This land can then be reallocated to commercial activities within VR City in hopes of turning it into a revenue-generating asset.”
Will tourists use the metaverse?
The idea of selling monuments for use in virtual reality was already tested by the city of Cannes at the start of the year.
The coastal city on the French Riviera auctioned off iconic destinations like the Croisette and the Palais des Festivals as NFTs in June, which buyers could turn into boutiques or entertainment venues in the metaverse.
The returns to the virtual city could be huge, with 70 million visitors per year projected by BCB based on current visitor numbers at real landmarks.
Niagara Falls attracts 13 million tourists a year and the Great Wall of China attracts 10 million.
Meanwhile, the Taj Mahal, Eiffel Tower and Colosseum, which also feature in VR City, fetch between six and eight million each.
While visitors can save costs by taking a trip to the VR City, this certainly can’t be a patch on the real thing.
This sci-fi concept destination may lower traditional barriers to travel – but will anyone want to go there?