Real Estate Sales in the Metaverse reached $500 million in 2021 as the popularity of the virtual world is on the rise. We have seen many famous personalities, companies, and individuals buy properties in the Metaverse. And the most popular metaverses have been MANA and SAND, while there are many new ones emerging. All this can mean either of the two things first, that this is just hype and will subside soon, or secondly, that Metaverse is going to be really big in the future. Most analysts expect the latter and therefore predict sales to double in 2022.
The Metaverse craze
Last year there was nearly $501 million in Real Estate Sales in the Metaverse. And in 2022, the sales figures have already reached $85 million in the first month. Considering a similar trajectory, we could easily cross $1 billion by the end of the year. In fact, if some new developments happen in the space or some big announcement takes place, we could even see more volume.
The craze of the Metaverse started when Facebook changed its name to Meta and talked about the virtual world. After it happened, the price of Meta tokens, primarily MANA and SAND, increased substantially within a span of a few weeks. And the latest comment from Apple CEO Tim Cook saying Metaverse has a lot of potentials also pumped the price of these tokens.
Sales
Most of the sales in 2021 in the Metaverse were in Sandbox. They launched a series of 100 islands that were for $15,000 each and now are getting resold for over 100 grand. Real Estate Sales in the Metaverse happen in the form of parcels, and Sandbox has nearly 62% land available of the top 4 spaces. Many companies are also opening their stores in the Metaverse like Samsung and H&M.
As an investor, if you are planning to get real estate in the Metaverse, then one of the primary aspects to look out for is location. For example, companies are trying to get the ground floor in large buildings, while many are getting places because of their visual appeal and scarcity. But since this investment is very illiquid, think about the risks involved as well.
What are your thoughts as Real Estate Sales in the Metaverse skyrocket? And do you think that these virtual pieces of land will sustain their value? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Bitcoin could soon move to $40k suggests metrics.
