The land is being purchased by early speculators, professional real estate agents, and celebrities, who are purchasing land that does not exist in the actual world. They are making an investment in metaverse real estate, which is a concept that most people find difficult to comprehend.
As a result, what precisely is the metaverse? The metaverse, according to technological experts, is the next level of the internet. There are virtual reality platforms where people can play games, communicate with their friends, hold meetings, and even attend virtual concerts, according to the company. Since Facebook declared that it would change its name to Meta and focus on establishing its own digital world, demand in metaverse real estate has soared, according to industry experts.
In fact, according to data from MetaMetrics Solutions, real estate transactions in the metaverse will top $500 million in 2021 and might more than double by the end of 2022.
What is the cost of purchasing virtual land for buyers?
Several websites, including nonfungible.com, estimate that the average real estate piece in The Sandbox metaverse platform was valued $2,620 in mid-October. It increased to $11,042 a month later, following Facebook’s announcement of the price increase.
Investors, companies, and affluent individuals are rushing to acquire virtual property in the Metaverse’s digital land rush, which is now underway. According to projections, the virtual real estate market in the leading metaverse platforms will reach €440 million in 2021, and it will more than double in 2022. However, in the actual world, the vast majority of people are still unable to purchase a real home and have only limited access to virtual property.
Metapoly, on the other hand, puts an end to this monopoly. Metapoly is the world’s first decentralized metaverse land tycoon, and it assists investors in driving investment into the Metaverse. With Metapoly, investors may simply gain access to virtual real estate and invest in the Metaverse, allowing them to reap enormous financial rewards. First and foremost, one does not need to be famous or rich to purchase Metaverse real estate. Metapoly has developed an architecture that smoothly integrates the Metaverse, NFTs, and Decentralized Finance (DeFi). Metapoly aspires to provide a platform for everyone in the Metaverse’s future by giving them a voice.
With so much of our lives being turned to the digital world, are we really surprised that real estate is following? If we are honest with ourselves the answer should be no. When you open up your mind to what is possible in the digital world, all sorts of things like real estate, art, and connection with others now become the new normal. The metaverse is new, but also the natural next step in technology evolution. What’s coming next? Find your place in the metaverse, and you’ll be at the forefront of the next steps in human, and technological evolution.
