POWER TECHNOLOGY
MetaVerse Real Estate:
What is it? What Are the Risks and Rewards of Investing in this metaverse real estate boom?
C
rypto whales are really fighting to get parcels of virtual land which to the ordinary person, this does not make any sense at all. Last year, the real estate in this new strange world, called the metaverse reached half a billion dollars, and if this trend continues, it is possible that its sale might reach and even exceed 1 billion dollars this year. 18 | MARCH 2022
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The world of cryptocurrency seems to be taking us all by surprise and with this technology, we have opened a whole new sphere, the virtual world!
Companies globally are even participating in the purchase of big parcels of land, and then developing them to lease them later which sounds surreal. One of the questions that you may be asking yourself is leasing these developed parcels to whom? Surprisingly, many people are willing to take a gamble. According to the CEO of
Metaverse Group, Lorne Sugarman, a company specializing in buying this virtual land developing it, and leasing it out, he compares the ‘great land grab to “the early days of European settlement in the US.” The Metaverse world will grow in value economic wise as more people and brands buy, and it is already happening. Early speculators,
