- Metaverse land prices are projected to increase from $20 to $6,000 per square meter by 2021.
- Decentraland’s average transaction price dropped from $45 in 2022 to $5, a nearly 90% decrease.
- JJ Lin lost 91% of his investment in three virtual real estate purchases in Decentraland, which are now unpopular and unvisited.
According to a recent article on IT House, the decentraland virtual real estate market in Metaverse is expected to experience a significant increase in prices in the coming years.
The article cites data from the Metaverse analytics platform WeMeta, which reveals that the average transaction price per square meter of land in Metaverse was a mere $20 in 2017. However, the same data indicates that this figure is predicted to skyrocket to $6,000 by 2021.
On the other hand, the world’s largest metaverse real estate sales platform, Decentraland, has experienced a significant drop in the average transaction price. The platform’s average transaction price dropped from $45 in 2022 to $5, representing a decrease of almost 90%.
Moreover, China Securities Journal reported that JJ Lin, a Chinese singer, purchased three pieces of virtual real estate in Decentraland for $123,000 in November 2021. However, the current value of these properties is estimated to be only about $10,000, resulting in a loss of 91%.
Adding to the sharp decline in prices, JJ Lin’s popularity in these three lands is also low. According to the platform’s weekly traffic, there is almost no interest in these lands. The virtual real estate market is highly volatile, and investors need to be cautious when investing in it.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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