Monday, December 4, 2023

The Metaverse’s real estate market is booming. Is It Really Such a Weird Concept?

Buying and selling plots on the Metaverse is a very recent phenomenon, and the logic of it evades most people. For the layperson, it would make very little sense to spend a huge amount of money in buying a plot of land that does not even physically exist. Many purists have dismissed the phenomenon as yet another millennial madness, unwilling to see into the future of the world and how it would operate decades from now. With the entry of big corporates in buying virtual plots on the Metaverse, many people are rethinking the so-called ‘absurdity’ of the move. PwC recently bought a plot in the Decentraland metaverse. Another individual from the United States was all over the news for spending $450,000 to buy a plot in Snoopverse and being the virtual neighbor of Snoop Dogg.

While these developments may seem to be absurd at the forefront, they hint towards the future we are building. For instance, shopping on the Metaverse is already a viable practice. As the world moves to the Metaverse, the scale of such initiatives will only increase. Before we realize it, we will be running entire economies on the Metaverse. In that respect, having a personal space on the Metaverse would not be very different from owning physical land or a house. There are huge economic incentives to these purchases, though they will take some years to show up. The Metaverse is quickly becoming a real force in the world and will be a fully functional space in no time.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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