Investors Are Paying Millions for Virtual ‘Land’ in the Metaverse

True Pundit January 18, 2022

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Digital real estate in the metaverse is reportedly being sold for millions of dollars in some cases as more people buy into the hype of digital reality. One investor spent $450,000 to be the virtual neighbor of rapper Snoop Dogg.

CNBC reports that real estate in the metaverse is on the rise, with some completely digital plots of land selling for millions. A report from cryptocurrency asset manager Grayscale recently estimated that the digital world may be a $1 trillion business in the near future.

Andrew Kiguel, the CEO of Tokens.com, which invests in metaverse real estate and NFT-related digital assets, recently stated: “The metaverse is the next iteration of social media. You can go to a carnival, you can go to a music concert, you can go to a museum.”

In these virtual, video-game-like worlds, users can interact with each other and take part in a number of activities together. Currently, the experience is confined to a regular computer screen, but Facebook (now called Meta) has plans to make the metaverse a 360-degree virtual experience with the help of its Oculus headsets.- READ MORE

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