The Metaverse is the virtual world launched by Meta, the newly named company known to all as Facebook.
As more and more people tried the experience of living as ana avatar in this virtual world, brands and firms have found new market opportunities in the Zuckerbergian’s world.
While consumer goods and fashion items have been recently introduced in the virtual world, lands and houses were one of the first thing to appear in the Metaverse.
The average cost of digital land in 2021 was $5,300, according to Forbes.
In 2022, prices for land in the metaverse have surged, with some plots selling for millions of dollars.
You have read it well. As the the metaverse is fundamentally a 3D version of the internet and, more and more people want to spend time in this virtual world. And surely, they’ll need a house to live in.
Thus, an actual digital real estate market is taking shape.
There are different platforms in the Metaverse that form a finite world, divided in lands that can be bought or rented, just like in the real market.
And, just like the real market, prices will follow investors demand, location and other dictating factors.
This suggest that the virtual housing market can become a real profitable hub for the investors of the future. However, the physical technology has still progress to do to match the concept and some time will have to pass before the related tools will become globally affordable, and accessed by more people.
While Barbados has opened an Ambassy in the Metaverse, the physical housing market keep going up, with a supply that still tries to catch up with demand.
If you want to take advantage of the current market and sell your house profitably you can check specific market conditions for country on Realigro’s portal.
Also, maybe you are already taking into consideration of putting a little money into the virtual housing market. The revenue you can make renting or selling could be your initial booster.
From the other side, others say that virtual land could eventually become worthless. In fact, while the platforms have finite size, the actual metaverse can expand potentially infinitely, as more and more platforms could keep getting added.While more facts will happen and more news will come on this topic, you can always keep your feet on…solid ground and trade your property here.
Andrè Pitì
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