Metaverse: Why people and businesses spend millions buying virtual homes

  • Theo Tzanidis
  • The dialog*

Credit, Getty Images

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In the previous few months, there have been important investments in virtual terrain inside the metaverse.

The thought of ​​spending hundreds or millions of {dollars} to purchase “land” created within the virtual world appears, to place it bluntly, ridiculous.

But in the previous couple of months, we’ve seen an enormous funding in virtual terrain inside the metaverse. PwC Consultancy was one of many final firms to become involved, having purchased a house in The Sandbox, a virtual gaming world, for an undisclosed quantity.

If there’s a reference to the opposite shops talked about, it should be some huge cash. Recently, somebody purchased land within the Snoopverse – a virtual world developed by rapper Snoop Dogg in The Sandbox – for $ 450,000.

Meanwhile, Metaverse Group, a enterprise firm centered on the metaverse economic system, reportedly purchased land in Decentraland, one other virtual house, for $ 2.43 million.

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