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What Is Metaverse Real Estate?
Metaverse real estate are parcels of land in virtual worlds. In the simplest sense, they are pixels. However, they are more than just digital images. They are programmable spaces in virtual reality platforms where people can socialize, play games, sell NFTs, attend meetings, go to virtual concerts, and do countless other virtual activities. With the rise of the metaverse, digital real estate is expected to grow and expand as well. In fact, there has been a metaverse real estate boom in the last quarter of 2021 after Facebook changed its name to META and indicated a focused interest in the metaverse. As its popularity continues to grow, the value of metaverse real estate is forecasted to have a CAGR of 31.2% from 2022 to 2028.