Forget REAL Estate

🏢 Virtual property sales, aka sales of real estate in the metaverse, topped $500 million last year, according to MetaMetric Solutions. At its current pace, that number could reach nearly $1 billion in 2022.

• So far, sales have been mainly concentrated around the “Big Four” metaverses: Sandbox, Decentraland, Cryptovoxels, and Somnium.
• Each of these virtual 3D worlds contains a finite number of plots, all of varying sizes. There are a grand total of 268,645 unique parcels across the four platforms.
• Users in charge of these plots can create virtual cities with custom animations, transactions, advertisements, and zoning laws.

+Get ready for virtual vacations: In late November, Republic Realm paid a record $4.3 million for land in Sandbox, the largest metaverse of the Big Four. The ​​company is developing 100 "Fantasy Islands", complete with their own villas and a related market of boats and jet skis. 90 of the islands sold on the first day for $15,000... and some are now going for $100,000+.

+Looking ahead… A recent report from crypto asset manager Grayscale projects the digital world will grow into a $1 trillion business in the near future.