Metaverse real estate sales surpassed $500 million last year, and nearly half of this amount came after Mark Zuckerberg’s October 2021 rebranding of Facebook to “Meta.” (One piece of metaverse “land” went for $4.3 million alone.) This year, the metaverse real estate market has continued to boom, with sales reaching $85 million in the first month of 2022 alone. Some analysts believe total sales could reach $1 billion this year.
The surge in metaverse real estate values is impressive. But are these values real, or is this a bubble that will soon burst? And should anyone really care? The answers are “yes,” “yes,” and “yes.”
Read Dr. Jamison’s complete blog post at AEI.