Metaverse land sales exceed $500M: Will double by 2022

New reports have been published on metaverse land sales that emerged with the developing web technologies. In the studies, it was stated that the sales exceeded 500 million dollars in total on the four largest platforms called ‘Big Four’, and this figure is expected to double in 2022.

New reports have emerged about the sale of land in the world of the metaverse, which is one of the most popular topics of the last period.The common point in the results of the published reports is that metaverse land sales will grow day by day.

In the reports, it was stated that metaverse real estate sales exceeded $ 500 million in total on the four largest platforms called ‘Big Four’, and this figure is expected to double in 2022.

“There are big risks but potentially big payoffs,” said Janine Yorio, CEO of metaverse real estate investor and consulting firm Republic Realm, in the CNBC report.

FOUR COMPANIES STAND OUT

Four companies stand out in Metaverse land sales.The companies named ‘Big Four’ by Metaverse analysts were Sandbox, Decentraland, Cryptovoxels and Somnium.

‘TO EXCEED 1 BILLION DOLLARS IN 2022’

In the study published by MetaMetric Solutions, land sales on the four major metaverse platforms reached $501 million in 2021.

The Metaverse data provider said that while sales in January exceeded $85 million, it estimated that sales could reach around $1 billion in 2022 if it continues at this pace.

FIRED BY FACEBOOK BEING METAD

While land sales in the Metaverse world accelerated day by day as of the second half of 2021, the latest increase in sales was fueled by Facebook’s announcement on October 28 that it was rebranding to Meta to focus on metadata.

INCREASED 9 TIMES IN NOVEMBER

According to MetaMetric, the most land sales were in November, increasing nearly ninefold to $133 million.

While land sales decreased as of December, the land sales price in January 2022 was more than 10 times compared to the same month of 2021.

A report published by BrandEssence Market Research underlined that they found that the metaverse real estate market is expected to grow by 31 percent per year from 2022 to 2028.

ONE COMPANY DOMINATES THREE FOURTHS OF THE SECTOR

A total of 268,645 parcels of land are available for sale across all four platforms, all of different sizes, while Sandbox dominates the market, with 62 percent of available land across all four platforms and three-quarters of all land sales in 2022, according to a report from Republic Realm.

THE MOST SUITABLE PLOT 12 thousand 700 dollars

Sandbox’s 166,464 parcels were each sold for an average of $12,700 in Ethereum as of December, while the parcels were 96 meters by 96 meters.

Decentraland (MANA), the second player in the market after Sandbox, put up for sale 90 thousand 600 parcels of 16 meters by 16 meters, while it was reported that each of the parcels was sold for Ethereum worth 14 thousand 440 dollars.