Metaverse lands offer a diverse spectrum, featuring realistic replicas of the physical world or entirely imaginative creations.
On realistic platforms, where land values can be substantial, an advertisement for a New York land was observed at an impressive $200,000. Additionally, multiple advertisements in Paris and surrounding islands suggest a growing interest in these virtual spaces.
Atari SA, a prominent company, made one of the largest metaverse land purchases to date, reportedly investing $4.3 million in a 24×24 metaverse parcel. Another startup, Metaverse Group, revealed the acquisition of a real estate development plot for $2.43 million through a different metaverse app.
The observed trend indicates that plot prices correlate with the value of the coin on the platform market. While land values may decrease with a decline in coin value, the emergence of new independent offers seems to rise as land amounts decrease due to sales.
Although these concepts may be novel to many, the metaverse has captivated millions of users globally. In a notable example from December 2021, a fan of musician Snoop Dogg reportedly paid $450,000 to obtain land adjacent to Snoop Dogg’s virtual property.
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