Metaverse

Real estate transactions on the MetaUniverse are expected to reach $1 billion this year. According to MetaMetrics Solutions, real estate transactions on the four major metaverse platforms totaled $501 million last year and are expected to triple this year.

According to CNBC, real estate transactions in the metaverse reached $500 million last year. Sales reached $85 million in January and are expected to exceed $1 billion by 2022.

According to Brandessence Market Research, the metaverse real estate market is expected to grow at a CAGR of 31.2% per year from 2022 to 2028. If the market is valued at $1 billion this year, the metaverse real estate market will be worth about $6.7 billion by 2028.

Investors and businesses are spending millions of dollars to buy digital land in early iterations of the metaverse to bring business into this new space. According to a recent analysis by Grayscale, a digital currency investment firm, the metaverse will soon become a $1 trillion economy for advertisers, developers and artists.

What is the cost of virtual land?

At this point, the cheapest plots on The Sandbox and Decentraland are 3.69 Ether (ETH) tokens and 5,100 Decentraland (Mana), which equates to $9,681 and $13,413, respectively. However, the review has sold millions of dollars and the asking price could be much higher.

It's important to remember that if the metaverse you bought it from crashes and falls apart, the digital land could lose its value. If the next Snoop Dogg comes next door, it could soar. The platform's base token is likewise tied to the value of the land. Because cryptocurrencies are usually unstable, the value of your home may also vary.

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