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In the real world, land increases in value because there is only so much space to build. But in the virtual world, space could in theory expand forever, eroding the value of each individual plot ...
Metaverse real estate is growing at a fast pace, both in interest and prices, and has been one of the top-grossing sectors in the NFT space in 2021 and in the past couple of months. While in March ...
Virtual land has become a hot commodity as parcels have sold for hundreds of thousands and even millions of dollars. The cheapest piece of metaverse land you can buy is going for a whopping ...
Decentraland was created by Argentine developers Ari Meilich and Esteban Ordano, [1] and has been in development since 2015. [13] When it launched in 2017, parcels of digital land sold for about $20, [14] and mana tokens sold for $0.02. [1]
On a per-user basis, the valuations for Decentraland, Axie Infinity and The Sandbox look quite high. But just picking the right metric is tough in this loosely defined niche.
The term metaverse originated in the 1992 science fiction novel Snow Crash as a portmanteau of "meta" and "universe". [6] [7] In Snow Crash, the metaverse is envisioned as a version of the Internet that is a single, universal, and immersive virtual world, facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. [8] [2]
The attitudinal study was carried out among 2000 gamers and 800 game developers. Respondents believed that the metaverse was a logical progression of gaming, with over 90% of American and British gamers believing the metaverse will be populated and accessible in the next ten years; 10% of British gamers thought the metaverse would arrive by 2023.
People are pouring hundreds of millions of dollars into metaverse land, but experts told Insider it's not the same thing as real-world real estate.