How Much Does Metaverse Land Cost

The virtual real estate market is expected to increase this year to one billion. And that shouldn’t be the end of the madness in the Metaverse. Even in real life it’s not easy: If you want to buy a property in New York, London or Rome you either have to have rich parents, win the lottery or rob a bank. Now the housing bubble in the Metaverse seems to be inflating in a similar way to that in the actual verse.

According to a report in USA, virtual properties worth around 500 million were traded last year. In 2022, the volume is expected to double to over a billion. Market observers anticipate that the sector will grow by an average of over 30 % annually in the years that follow until 2030.

Infinite Expanses In The Metaverse 

This seems to open the door for speculators. But it remains difficult to correctly calculate the risks and chances of the real estate in the Metaverse. The problem: Unlike in the real world, space in the virtuality is unlimited. So the supply is artificially reduced in order to drive up the prices.

In the Metaverse, it’s not so clear. While critics point out that in virtual space you can look from one place to another at lightning speed and therefore the place of a property is simply irrelevant.

Virtual Values ​​- Also A Generation Issue?

Experts have been dealing with synthetic worlds for many years, described the Metaverse land sales as a scheme. The Metaverse is an Eldorado for online startups. What happens there is like a wild chase through the jungle. But you can also die doing it.From this point of view, the acceptance of virtual worlds is also a question of generations. Many people find it difficult to attribute value to digital things that cannot be touched. The younger generation doesn’t have a problem with it.

Record Breaks Record

The deal broke a record set just a week earlier when the Metaverse company bought a piece of digital land for about 2.5 million in Decentraland’s environment. The deal underlines the great interest of companies in participating in networked worlds in which people could stay, work, shop or just gamble in the future. According to cryptocurrency management, the Metaverse represents a trillion a year revenue chance. It is understandable that many companies want a piece of this cake.