Why investors are paying real money to buy virtual real estate – ArabianBusiness.com
- Date: 17-Jan-2022
- Source: Arabian Business
- Sector:Financial Markets
- Country:Middle East
Why investors are paying real money to buy virtual real estate – ArabianBusiness.com
Significant investments in virtual land within the metaverse are booming, with Bloomberg Intelligence estimating the global metaverse revenue opportunity to approach $800 billion by 2024.
Virtual worlds, such as Decentraland and The Sandbox, are enabling users and partners to build, trade and monetise in-game assets.
These immersive online platforms combine multiple elements of technology, including virtual reality, augmented reality and video where users “live” within a digital universe, converging the physical and digital realms in what is set to be the next evolution of the internet and social networks.