Metaverse, has rushed to purchase virtual properties
The real estate market is growing in the metaverse, virtual reality that sees Meta as the main company behind the development of worlds and platforms to be accessed via computers, viewers and goggles.According to a report by specialist analysis agency Metametric Solutions, the digital real estate sector reached a value of $ 500 million in 2021 and is set to double by the end of the year.
This can be a largely unknown market until, last October, Mark Zuckerberg unveiled the Horizon Worlds project, in line with the idea of the metaverse, around the occasion from the change of Facebook’s name in Meta.
According to Metametric, real estate sales on the main four metaverse platforms, Sandbox, Decentraland, Cryptovoxels and Somnium, in January 2022 exceeded $ 85 million. Estimates, at this rate, are heading towards a $ 1 billion turnover by the end of the year. Analysts believe that the virtual real estate market has very high risks, but with high profit margins. According to a report by BrandEssence Market Research, the industry’s compound annual growth rate will be 31% between 2022 and 2028. The boom is mainly driven by large companies rather than end users. Tokens.com, which invests in the cryptocurrency market, has raised $ 16 million in funding for the purchase of buildings and land. starting from the Decentraland fashion district. The stated goal is to host fashion events and retail stores. The group already has various agreements with apparel brands for the rental of virtual windows, with a view to a global launch in the coming months.