Real Estate in the Metaverse is booming. Is it really such a Crazy Idea?
The idea of spending thousands or even millions of dollars to buy fictitious “land” in a virtual world sounds, to be frank, absurd.
But in recent months, we’ve seen significant investments in virtual land within the metaverse. PwC is among the latest to dive in, having purchased real estate in The Sandbox, a virtual gaming world, for an undisclosed amount.
Meanwhile, the Metaverse Group, a real estate company focused on the metaverse economy, reportedly bought a piece of land in Decentraland, another virtual platform, for USD 2.43m.
Importantly, as in the real world, it is and increasingly will be possible to buy things in the metaverse – including real estate.
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