Metavers: why people and businesses spend millions to buy virtual real estate

Metavers: why people and businesses spend millions to buy virtual real estate

  • Theo Tzanidis
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virtual house

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In recent months, significant investments have been made in virtual land within the metavers.

The idea of ​​spending thousands or even millions of dollars to buy fictional “land” in a virtual world sounds, to put it bluntly, absurd.

But in recent months, we have seen significant investments in virtual land within the metavers. PwC Consulting is among the last companies to make the move, having bought real estate in The Sandbox, a world of virtual games, for an undisclosed amount.

If other informed sales are any reference, it should have been a considerable amount of money. Someone recently bought land on Snoopverse, a virtual world that rapper Snoop Dogg is developing within The Sandbox, for $ 450,000.

Meanwhile, the Metaverse Group, a real estate company focused on the metavers economy, bought land from Decentraland, another virtual platform, for $ 2.43 million.

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