Investors Snap Up Metaverse Real Estate in a Virtual Land Boom – World News

Investors Snap Up Metaverse Real Estate in a Virtual Land Boom

Metaverse Group owns a real estate investment trust, and plans to build a portfolio of properties in Decentraland as well as other regions. somnium space, sandbox And high up, The Internet may be infinite, but virtual real estate is not – for example, Decentraland is 90,000 parcels of land, each approximately 50 by 50 feet. Among investors, it seems there is gold in those pixelated hills, Mr Gord said.

“Imagine if you came to New York when it was ranch, and you had the option of getting a block of SoHo,” he said. “If someone wants to buy a block of real estate in Soho today, it’s priceless, it’s not in the market. The same experience is going to happen in the metaverse.”

Last week, closed an even bigger land deal in the fashion district of Decentraland for approximately $2.5 million. The company, which says the real estate transaction was the largest in Metaverse history, plans to develop the area into a virtual commerce hub for luxury fashion brands, la Rodeo Drive or Fifth Avenue.

Mr. Kiguel estimates that the value of his portfolio in the metaverse is 10 times its purchase price, and most of the reasoning would be similar to that of anyone who has ever bought or sold real estate.

“It’s place, place, location,” he said. “A parcel of land in the downtown core, which has a lot of visitor traffic, is worth more than a parcel of land in the suburbs. One drawback is value.”

Many of these digital realms appear as cartoonish, gummy-colored fantasy worlds, while others are digital applications of the planet we already know and love. superworld, a virtual real estate platform mapped over the entire face of the world, offers 64.8 billion plots – each for sale in the form of NFTs. The Taj Mahal is available as, most likely, your childhood home. Owners can buy plots for sentimental or knowledgeable reasons, but either way, once the NFT is purchased, they get a share of any commerce that takes place on that piece of property.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *