1. What is it like to live in the future?

- It is like watching a magic show to live in the future.

2. What will it be like to live in the future?
- It will be like watching a magic show to live in the future.

3. What would it be like to live in the future?
- It would be like watching a magic show to live in the future.
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Are the questions and answers correct? Which sentences do you frequently use?

Using present tense in sentence 1 is a bit strange since we don't really know.

In 2, I'd use "would" instead of "will" since it's a possibility not a fact.

3 is fine.