Metaverse, though in discussions from the last few years, is still new and trending. While many large businesses are investing big in the metaverse, estimating the profits, a few other businesses are still hesitant to take a risk. However, top companies like Meta (Facebook), Microsoft, Google, and Nvidia are investing millions to billions of dollars in the metaverse.
Metaverse can be used by any business that wants to level up the game. Real Estate has entered this new world long back and gained a lot of craze now. Virtual land has become a real deal after the sales have doubled to $1 billion on four popular real estate platforms, Decentraland, Sandbox, Somnium Space, and Cryptovoxels.
As businesses can’t say ‘No’ to profits, they started investing in real estate, mostly from last year. Metaverse real estate is expected to become an ordinary thing just like it happens in the real world – buying, and selling it when the price hikes.
Why are Metaverse Real-Estate Prices Booming?
People are spending more and more time on the internet, if not the whole day. Days are gone when we have to go out to buy things. From necessities to luxuries, we now buy everything online. The virtual world has become our real world almost, especially, from the days the world has faced lockdown.
The ‘work from home’ comfort made people want to continue the same in a more sophisticated way and the result is metaverse. While people started loving to enjoy everything from their place, the need for virtual things including companies, hospitals, educational institutions and other things has increased, giving a massive craze for real estate.
Also, the land available on each metaverse platform is finite. So, if a person buys land in one metaverse platform, nobody else can use it until they buy it or take it for rent. So, companies are hurrying up to buy the virtual plots by spending millions, without giving it a thought. This is how real-estate prices in the metaverse went up drastically this year.
Is it Worth Spending on Metaverse Real Estate?
Investing in metaverse properties has potential benefits more than risks as biggies betting huge on it reveals that there are high chances for profits. There’s no doubt that top companies wouldn’t spend millions of dollars without proper analysis. The rapid shift of digitization is another strong proof that metaverse real estate is going to be a big deal in future.
The fear of losing profits is another reason for different industries going after metaverse properties. When the future is largely dependent on the internet, most importantly, on Web3, it is a clever idea to get into the metaverse right now and buy virtual lands for the future.
Before the prices of virtual lands reach the sky, companies from small to big should invest in metaverse real estate according to their requirements and budget, to avoid further loss and regret.
