Why investors are paying real money to buy virtual real estate – ArabianBusiness.com

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.