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Metaverse Real Estate Market
The metaverse trend has had a huge impact on every aspect of life, from the way people communicate to the way people entertain themselves. Even the real estate market has shifted and expanded to the virtual world. One may find it quite vague and hard to believe that virtual properties are being sold but the market is extremely bustling indeed. Many global businesses have seized the opportunity to enter the metaverse by purchasing virtual property such as PwC, JP Morgan, HSBC and Samsung. Just like conventional real estate, metaverse real estate can be purchased for two main reasons. First of all, land owners can show off their lifestyle and create a home for their characters. As for businesses, they can use the virtual property as a way of being exposed to their prospective customers and being able to interact with the current ones in the most immersive way possible. The second reason is that virtual real estate is an investment opportunity. This way, land owners have to face a higher risk, yet they can expect a higher return as the average prices increase by a factor of 10 over the past year [8].
Overall, metaverse real estate is expected to be the next gold mine. It is evident that the early birds are seeing a significant return on their investment. As the metaverse trend continues to accelerate, the virtual real estate market does not seem to be deserted anytime soon.
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