With the metaverse taking centre stage, virtual real estate seems to be the next big thing but is it just a fad? A hype that is going to pop like a soap bubble in the bath sooner or later?
There's A Tangible Shift
When celebrities like Justin Bieber, Ariana Grande, the Weeknd, and Travis Scott held live, digital concert performances in the metaverse, they attracted hordes of fans, and bus loads of investors too.
Those investors are now buying virtual real estate like online fashion ramps, concert venues, shopping malls, and other types of “property”—in the metaverses.
Thanks to the interest garnered by Zuckerberg and other well-known celebrities, the metaverse’s global market, per Grayscale, is expected to soon reach a value of USD1 trillion.
Zooming In
While more and more folks are entering the metaverse to watch concerts, share experiences, gamble, shop and conduct business, space in the metaverse is limited. Decentraland only offers a max of 90,000 “parcels” of digital land.
Per
this report, it’s inevitable that the metaverse will be the #1 social network in the world someday soon. Add limited real estate supply to that and the cloud over your investment strategy may begin to clear rapidly.
Zooming Out
Imagine if you came to Mumbai when it was farmland, and you had the option to buy a block of South Mumbai (SoBo). If someone wants to buy a block of real estate in SoBo today, it’s priceless, it’s not on the market.
That same experience is going to happen in the metaverse, feel early adopters.
Way Ahead
The metaverse's appeal and future potential are precisely why investors are taking virtual real estate, cryptocurrency, and NFT collectibles so seriously.
And, as the metaverse continues to be normalized in our everyday reality, the divide between the real world and the metaverse continues to dissolve, merging the two into one single reality, now referred to as the omniverse.
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