Metaverse is causing a virtual real estate boom

Spending millions and millions of dollars into

seems , but it’s by the day. 

According to AFP, New York-based digital real estate investment vehicle Republic Realm paid a record 4.3 million USD for a piece of virtual real estate through The Sandbox, one of the biggest virtual world websites where everyone can converse, play games with each other or even attend music shows together. 

Just this last November, the

Tokens.com also paid 2.4 million USD in order to buy real estates on Decentraland. Just a few days prior to that, the Barbados also announced their intention of opening a as a way to increase their virtual presence.

Virtual lands have been sold for more than 100 million USD in the last week on the top 4 biggest metaverse websites: The Sandbox, Decentraland, CryptoVoxels and Somnium Space. VR’s popularity is only increasing, especially after Facebook’s brand change into Meta.

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