The trend of purchasing digital land in the Metaverse is still in its infancy, reminiscent of the early days of the internet when buying virtual real estate seemed like acquiring mere pixels on a website.
Emphasizing the significance of investing in platforms destined to become the predominant networks globally, experts suggest that obtaining virtual property from these emerging spaces could prove to be invaluable.
Before engaging in any digital property bidding, Gord, a prominent figure in the industry, advises potential buyers to assess critical factors such as location, pedestrian traffic, proximity to the city center, historical transaction values, and plot size.
He asserts that the Metaverse’s potential growth could be exponential, estimating it to be 200 times larger within the next 16 months, potentially rivaling the impact of the internet itself.
Recent data from DappRadar indicates a significant surge in metaverse land sales, with over $100 million worth of NFTs, including properties in sandbox (SAND), CryptoVoxels, and Somnium Space, changing hands in just the past week.
Illustrating the growing market, Gord’s company, Metaverse Group, recently sold a 50 percent stake to Tokens.com for $1.7 million and acquired a digital land for $2.43 million.
Simultaneously, another virtual land plot fetched $2.3 million on the play-to-earn platform Axie Infinity.
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