Metaverse Real Estate Continues Despite Crypto Issues
The real estate market is alive and well in the metaverse, the New York Times reported. Despite some high-profile problems in the cryptocurrency world, the market continues to grow, with Technavio projecting it will increase $5.37 billion in the next three years. The metaverse market is governed by the same supply-and-demand principles that affect the housing market in the physical world. In the Sandbox, a popular virtual world, direct land purchases go for nearly $400 per parcel. But prices skyrocket on the resale market or in places where buyers can be close to prominent bands and celebrities, such as Snoop Dogg. “Land is becoming the infrastructure of the metaverse,” Sebastien Borget, co-founder of the Sandbox, told the Times.
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