{"id":7617,"date":"2023-10-17T03:06:29","date_gmt":"2023-10-17T03:06:29","guid":{"rendered":"https:\/\/metaverseplanet.net\/blog\/?p=7617"},"modified":"2026-01-09T14:50:28","modified_gmt":"2026-01-09T14:50:28","slug":"2-billion-spent-on-metaverse-land","status":"publish","type":"post","link":"https:\/\/metaverseplanet.net\/blog\/2-billion-spent-on-metaverse-land\/","title":{"rendered":"$2 Billion Spent on Metaverse Land , Latest Study Reveals"},"content":{"rendered":"\n

Recent studies indicate that nearly $2 billion were invested last year as individuals and corporations vied for a stake in the metaverse, a digital universe that serves as the virtual reality counterpart to the internet.<\/p>\n\n\n\n

According to research by the analytics firm Dapp Radar, a staggering $1.93 billion in cryptocurrency was expended on purchasing virtual land in the metaverse in the past year.<\/p>\n\n\n\n

Of this amount, around $22 million were invested in about 3,000 land parcels within Voxels.<\/p>\n\n\n\n

\"Approximately<\/figure>\n\n\n\n

Voxels operate within the Ethereum blockchain, a publicly accessible ledger that transparently records and discloses transactions. This cryptocurrency-based system enables effective monitoring of these transactions by companies like Dapp Radar.<\/p>\n\n\n\n

Decentraland, an exceptional virtual realm, emerged in 2020. Within this digital domain, parcels of land command prices ranging from thousands to millions of dollars.<\/p>\n\n\n\n

Renowned corporations, including Samsung, UPS, and Sotheby’s, have delved into Decentraland, acquiring virtual plots to establish shops and information hubs.<\/p>\n\n\n\n

Additionally, luxury fashion label Philipp Plein has secured a significant virtual estate, equivalent in size to four soccer pitches, within which they intend to establish an immersive boutique and gallery in the metaverse.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Plein has been providing online product offerings for more than a year, allowing customers to make payments using 24 different cryptocurrencies. In early 2022, the brand expanded its involvement in the digital currency movement by opening a new store on London’s prestigious Old Bond Street.<\/p>\n\n\n\n

This store enables customers to buy clothing as well as select non-fungible tokens (NFTs) using popular cryptocurrencies such as Bitcoin and Ethereum.<\/p>\n\n\n\n

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    Recent studies indicate that nearly $2 billion were invested last year as individuals and corporations vied for a stake in the metaverse, a digital universe that serves as the virtual reality counterpart to the internet. According to research by the analytics firm Dapp Radar, a staggering $1.93 billion in cryptocurrency was expended on purchasing virtual …<\/p>\n","protected":false},"author":1,"featured_media":4023,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAown96uCw:productID":"","footnotes":""},"categories":[322],"tags":[318],"class_list":["post-7617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metaverse1","tag-metaverse-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/7617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/comments?post=7617"}],"version-history":[{"count":0,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/7617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media\/4023"}],"wp:attachment":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media?parent=7617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/categories?post=7617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/tags?post=7617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}