Virtual Real Estate – The Wave of the Future?
By now we’ve all heard about the METAVERSE and how people are creating virtual worlds to live out their dreams. But, did you know that you can now purchase your own virtual real estate using crypto currency? The Sandbox, a virtual world, just recently sold a virtual yacht for about $650K (in crypto currency). The asset was sold by a company called Republic Realm, a developer in The Sandbox metaverse. That’s just the beginning. Republic Realm owns 19 metaverse platforms and has developed six metaverse real estate projects. For example, they developed a grouping of 100 islands – called Fantasy Islands – which sold out in 24 hours. Some are saying that virtual land could be the biggest commodity currently being sold in various metaverse platforms at the moment.
I’ve seen a lot in my career, but this is certainly a new world! It will be interesting to follow the developments within this virtual realm.