“ N EARLY $2 BILLION IN METAVERSE LAND HAD BEEN SNAPPED UP OVER THE PAST 12 MONTHS.”
Metaverse Real Estate & Other
GLOBAL DIGITAL TRENDS Though the metaverse is still largely in its infancy, many are betting big that it will explode in decades to come. (Facebook’s parent company even staked its name on it). For proof, just look at the sheer amount of metaverse real estate purchased last year. As of November, nearly $2 billion in metaverse land had been snapped up over the past 12 months. In 2021, $501 million was spent there.19 Those are big numbers for what essentially amounts to a few lines of computer code – but clearly, investors have their sights set on long-term returns. In fact, a parcel of land in Decentraland20 – one of the top metaverse platforms – was just $20 in 2017, when the first auction was held. Now, parcels are going for around $4,000 apiece. In the long term, one tech executive thinks it will be “a multitrillion-dollar opportunity.” See page 108 for a full list of resources
