518 Determining Factors of Virtual Land Value: The Case of Decentraland İlkim GÜVEN 1* , Tuğçe ERCAN 2 1 Department of Architecture, Malatya Turgut Ozal University, Turkey 2 Department of Architecture, Yildiz Technical University, Turkey *Corresponding Author: ilkim.guven@ozal.edu.tr Abstract With the development of technology and the emergence of Metaverse as a new version of the Internet, new platforms have begun to be developed that direct the consumption style and perception of the society. Metaverse is a cyber universe where users can create their own spaces, design their appearances, interact with other users in the environment and earn money while all this is happening. Although the Metaverse is expressed as a common area of time and interaction, one of its main functions is to gain financial benefit. For this reason, it offers financial promises to both its users and investors. One of them is the "lands" owned in the Metaverse universe. There are different platforms on the Metaverse that trade land and even sell lands on the same coordinates in the physical world. The lands on these platforms have different pricing and many factors are effective in determining this pricing. While there are many empirical studies to determine the factors affecting land values in physical life, these studies for Metaverse plots are still in their infancy. It has been observed that the value of land in the Metaverse works differently from real-life valuations for various reasons. In this study, Decentraland is being explored as an example of a Metaverse platform that allows users to produce, interact and monetize. In this context, the factors that determine the value of the land on the platform are revealed by evaluating the data obtained through a comprehensive literature review and examination of the platform. The data obtained will provide the perception of the development of the Metaverse universes, where the cyberworlds and the physical worlds are brought together, while helping to establish the relationship between the physical world and the cyber world and will create a data for a detailed examination of the financial value of the Metaverse lands. Keywords: Cryptocoin, Decentraland, Land value, Metaverse, Virtual land Acknowledgment: This paper is based on the author's Master of Architecture thesis.