TechnologyReal estate prices are exploding in the virtual world

Real estate prices are exploding in the virtual world

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Invented in 1992 by Neal Stephenson in his novel, The Virtual Samurai, the Metaverse is attracting the interest of real estate investors more than ever. A fictional world accessible in virtual reality, presented by some as the future of the Internet, the Metavers constitutes a “potential financial windfall” for tech entrepreneurs, as our colleagues from BFM Immo report on Sunday.

Large-scale financial operations have in fact multiplied recently. In December 2021, a shopping center was thus sold for more than 4.3 million dollars to the Republic Realm company in Metavers The Sandbox, as recalled The echoes. Shortly before, virtual land was sold for more than $2 million in Decentraland’s virtual universe.

The Metavers, a means of communication?

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Why perform such virtual operations? “We take advantage of locations to put advertisements there”, answers Christophe Capelli, CEO of the real estate developer Capelli, interviewed at the end of December by our colleagues from BFM Business. According to him, brands will gradually create virtual shops to generate income, while facilitating the visibility and therefore the promotion of neighboring brands.

As in the real world, these real estate transactions using cryptocurrencies would, if they are profitable, make it possible to make capital gains while communicating with a targeted audience. An investment in the future, therefore, even if the evolution of virtual real estate prices remains difficult to anticipate.

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Janice
Janice
Janice Thomas is a content editor at 24 News Recorder. She has 5 years of journalism experience and she he is a graduate of Wittenberg University and holds a master’s degree in journalism from the Medill School of Journalism at Northwestern University.

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