Reimagining real estate in metaverse: Visionary or misleading

After facing the whiplash of the pandemic, global real estate is finally in recovery mode, and transactions are bouncing back, stemming from strong structural fundamentals, increased liquidity, and healthy demand.

Meanwhile, there is another land acquisition going on, and ironically not exactly in the real world, but in the virtual space, the Metaverse. While in the real world investors and buyers are vying to get the best land deal or condo or office space, there is no dearth in the Metaverse either.

Popular Metaverse real estate platforms such as Decentraland, Sandbox, and Roblox are new hotcakes. Sandbox, a virtually unknown platform sometime back has grown by 15000% in 2021. In the same year, the platform registered a total of 65,000 virtual land deals with a cumulative investment of USD 350 million.