The Matrix Is Coming Online

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If you think (just like we did till half a day ago) that only tech companies are gung-ho about the metaverse, you are as far from the truth as the world is from being Covid free. 

Real estate, fashion, entertainment, and gaming companies are already treating the next big upgrade to the internet like the future, creating a demand for virtual real estate, which is not funny. 

A Parallel Universe

Last week, when we wrote about a virtual plot of land that sold for 2.4 million dollars, we thought it was what you could safely call, a freak event. 

Turns out, we have to eat our own words for lunch today. 

Word on the street is that digital scarcity of land is already plaguing the virtual world, as there is a limited amount of virtual real estate in these Metaverses and just like our real world, some of that available real estate is extremely desirable.

With Brands In It

Nike has firm plans for a virtual space called NIKELAND. The company has partnered with Roblox, an online gaming platform that offers more than 24 million virtual experiences with focus on immersive content.

Per human analysts at Morgan Stanley, the virtual luxury market could be as large as USD57 billion by the year 2030.

It's So Real That There Are Fakes Now

And just so that it sinks in real hard, we heard of a place selling the entire planet virtually, Eiffel Tower inclusive, for Ethereum, invoking words like fraud from believers of the Metaverse itself. 😳

For about INR 1.62 crore or 50 Ether, you can virtually buy the Taj Mahal while your chai is brewing.