Metaverse News

Metaverse real estate sales could reach $1 billion this year

Real estate sales in the Metaverse are expected to hit $1 billion this year, according to analytics firm Metametric Solutions.

The four major Metaverse platforms — Sandbox, Decentraland, Cryptovoxels, and Somnium — saw over $501 million in property sales last year, totaling 268,645 lots of varying sizes.

The analytics firm predicts that property sales in the Metaverse could double this year and reach nearly $1 billion by 2022.

According to a report by Brandessence Market Research, the diversified real estate market is expected to grow at a compound annual rate of 31% from 2022 to 2028.

Some have estimated that the Metaverse is a multi-million dollar opportunity. Global investment banks Goldman Sachs and Morgan Stanley have predicted the Metaverse could be worth $8 trillion.

In December of last year, Bank of America strategist Haim Israel said the Metaverse presented a great opportunity for cryptocurrencies to become widely used as a currency.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.