In metaverse, you can do many things as you want.
You can do more than just playing a game or joining a meeting.
You can enjoy a music concert, go to museum and even buy a private land.
As in reality, you can buy a private land.
The difference is, you will have a virtual land, but you pay as much as real land in the reality.
Andrew Kiguel a crypto entrepreneur said that these last few months, 400 to 500 percent prices gone up for real estate in metaverse.
His company drop $2.5 Million for a land in metaverse.
Janine Yorio’s company, Sandbox also one of the hot news on metaverse, because Sandbox develop and invest in the virtual real estate and spend more than $4 Million for a package on virtual land.
The transaction that done by Sandbox, succeed breaking the record in metaverse.
Janine Yorio’s company sold 100 virtual private islands in 2021 and each island cost $15,000.
Today, they selling each island cost $300,000.
Those price seems like the average cost for buying a house in the reality, in contrast, you only own the virtual private island.
CNBC shows various reactions that come up from some professionals.
Oren Alexander a Real Estate Broker said that some people take it as serious condition, means the virtual world is as important as the reality. It is not about who is believe and who is not, but it is about the future does.
In another side, Mark Stapp the Arizona State University Professor of Real Estate convey his thought about a property in metaverse.
He explains that it is no sense for him. You need to pay for something that virtual with the real money that you have.
The price for an island in the metaverse also vary with the type.
The factor that can be an impact for the cost is the area or location.
As you want to buy property in the real life, you also need to put the concern on the area that you choose in the virtual world.
There are also 2 options when you want to buy a property in the virtual world.
You can buy directly to the seller or through the developer.
- Read also: Cristiano Amon Reveals What Is Metaverse