If someone told you pre-pandemic that there would soon be a thing called virtual real estate, you wouldn’t believe them. And if they told you that millions of dollars have already been spent on buying virtual properties, you’d think they were crazy. However, this is the reality and it’s only getting better every day. Here is what the current metaverse real estate market looks like.
The Current Metaverse Real Estate Market
Did you know that last year alone real estate sales in the metaverse crossed over $500 million? It’s hard to wrap your head around it. What’s even more mind-blowing is analysts predict that property sales in the metaverse this year are expected to double that amount.
You may have noticed that properties in the metaverse have significantly dropped in value in the past month or two. While this may alarm some investors, it is actually an opportunity for late investors to get a foothold in the virtual real estate space before it’s too late again.
Recent Property Sales in the Metaverse
Eyeing the recent dip in property values in the metaverse, many people and organizations have taken the opportunity to finally become an investor in virtual land. Here are just a few recent property sales in the metaverse that have made headlines.
Tony Hawk
Tony Hawk is known to be one of the best skateboarders in the world. He is a world champion and holds many titles since becoming a pro skateboarder at just 14 years old. Just recently, Tony Hawk made his debut into the metaverse by buying land in The Sandbox.
His goal with his property is to create the largest skatepark in the metaverse. His land is named Tony Hawk LAND and was able to make this purchase through a collaboration with Autograph. Hawk aims to bring the popular skate culture to the metaverse and is a step closer to his goal.
CannazALL
CannazALL is one of the top five CBD companies in the world. This company has been selling CBD online since 2014 and they plan on revolutionizing the CBD space in the metaverse as well. In order to do so, they purchased two retail properties in the metaverse.
CannazALL plans on opening its stores in both New York City and Santa Monica. These are prime locations in both the real world and the virtual space. Despite already owning two retail properties in the metaverse, they reveal that they still have plans to expand further in this space.
Paris Hilton
Paris Hilton is one of the most popular media icons and is known to be the queen of parties. She recently revealed how she now plans on becoming the queen of the metaverse through her recent property purchases in The Sandbox.
She reveals how she plans on making these properties the go-to places to party and just have a good time. You may be surprised to see Hilton on this list but she has actually been participating in the virtual space with crypto since 2016. She is known to be interested in virtual money.
Is It a Good Time to Buy Property in the Metaverse?
Considering the recent dip in real estate prices in the metaverse and the huge number of property sales that have been happening as a result, it is safe to say that this is a great time to invest in property in the metaverse. You may never get the opportunity to buy a property in the metaverse at such competitive prices and so this is one opportunity that you can’t let slip away.
