Although this term is widely used in the Real State sector, the truth is that it also has its key significance in virtual worlds. Foot traffic has become a very important meter when it comes to measuring the value of your virtual properties
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WHAT IS "FOOT TRAFFIC"
In the real state, foot traffic is the flow of people walking through a commercial or business area. It is measured in number of people per hour or per day. This acts as an important indicator of economic activity in an area, as it reflects consumer interest in the businesses and services offered.
In the virtual state, foot traffic is the number of visitors who access a website or application. It is measured in the number of unique visitors or the number of page views.
In both cases, foot traffic is an important factor for businesses and companies, as it helps them measure the success of their marketing and sales strategies.
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ADAPTATION TO THE METAVERSE
Of course, digitalization does not stop evolving and when we talk about the virtual state, we cannot help but automatically think about the metaverse from the perspective of buying, selling or renting virtual properties.
Metaverse properties in virtual worlds are constantly being revalued. In addition to the scarcity of properties after the sales of the lands or available lands, whoever owns them automatically creates speculation on the adjacent lands:
In the upper area, there is the map on a grid, in which different experiences and companies are located. Of course, properties that are located near much more recognized properties such as "The Walking Dead" have a higher value than those that are simply found among other users in the community, as we can see on the right side of the image.
Exactly the same thing happens here with the properties near the project of the famous rapper singer Snoop Dogg where some that are for sale have an incredible value. Notice:
Last December the property was acquired for a little more than 18 #Ethereum , which at the current exchange rate with the bear market today represents close to $17,000.
However, there are higher prices on other platforms. The Sandbox is not the only option nor the only example. Exactly the same thing happens in others like Earth 2, where here we can also learn more about the importance of foot traffic based on parallels with real locations on the planet we inhabit:
An area of the forbidden city of China was traded, as you can see, on several occasions, starting from its initial value of $84.70 until the last transaction carried out in January 2022, reaching $30,000.
This area is none other than "The White House" in Washington. Yes, that's right, the famous White House of the United States, which from an initial price of $52 had a revaluation of $75,000 as of January 2022.
In the Earth 2 project, almost a total of 114 million virtual properties have already been sold (each plot represents a 10x10m² property)
THE MAIN REASONS THAT EXPLAIN THIS
The first one that may come to mind is simple: Speculation
Completely. But this speculation of virtual land also exists on real land. Speculation has been present in brick since ancient times.
The second reason is the fame of the present place. These places have in common that they are widely known areas worldwide, so the buyer and any user can determine that they are crowded areas where the traffic of people in their surroundings is very high.
When human traffic is very high, companies or advertising always want to establish themselves in areas close to it. Greater opportunity to be visible, greater opportunity to be visited or known.
And yes, they are virtual properties, but they also have their value in two aspects:
Virtual worlds (Virtual Reality)
Augmented worlds (Real impact through Augmented Reality)
( Realidad Virtual )
USES OF FOOT TRAFFIC FOR COMPANIES
CREATE PERSONALIZED EXPERIENCES FOR USERS
Companies can use foot traffic to create personalized experiences for users. For example, a fashion company could use foot traffic to identify users who are interested in a certain type of clothing. The company could then create a personalized experience for those users, which could include product recommendations, special offers, or exclusive events.
OFFER REWARDS
A gaming company could offer users a reward for spending a certain amount of time in its virtual space. This could help the company increase user engagement and promote its content.
CONDUCT SURVEYS AND MARKET STUDIES
This can help them better understand user needs and preferences. For example, a technology company could use foot traffic to survey users about their experiences with a new product.
LAUNCH NEW PRODUCTS AND SERVICES
In this way, the aim is to reach a broader audience and obtain feedback on their new offers. If you are a food company, you can launch vegan products if after feedback you find that lack.
And just like the previous examples, we would have many more in different sectors with application in areas with high user concurrence.
