The Metaverse Real Estate Market size is Expected to grow at 31.2% CAGR during 2022-2028. Soaring popularity of metaverse real estate across the globe and rising inclination towards NFTs in the metaverse environment are some of the major factors driving the growth of Global Metaverse Real Estate Market. A sudden popularity of metaverse in real-estate market is skyrocketing and various investors are willing to pay millions. The market is expected to witness an attractive growth in the coming few years. Metaverse is a step in the direction of the digitalization of the real world. It is referred to as a decentralized computing platform and virtual reality experience contained various diverse digital realms. Over the past few months, the term “Metaverse” has been rising in popularity owing to the business opportunities that arose. Players can purchase land, build stores, and art galleries in this metaverse real estate platform. Metaverse real estate is one of the platforms where one can do anything they want to do in a virtual world. The price of virtual real estate is based upon most of the same factors as one must determine the value of a piece of actual real estate’s such as location, lot size, existing structures, and demand all play a huge role in valuation.
Increasing investment in metaverse real estate market and growing popularity among the population are some of the major factors driving the market growth. Metaverse real estate is the latest buzzworthy investment right now which is hugely gaining popularity all over the world. Number of players fully intend to generate spaces like virtual malls and other rentable properties. The concept of metaverse real estate captured the hearts and minds of nearly 70% of Americans. As, the masses of metaverse real estate platforms, like Decentraland, Sandbox and many others are available nearby the world. For example, Metaverse Group, one of the first companies to get into the digital real estate business operated a virtual world called Decentraland. Token.com announced that on average 116 parcel estates were sold for the equivalent of about USD 2.5 million. As well as, on December 8th, 2021, The Sandbox platform trading in virtual real estate has about 2,182 sales in a week. Further, Decentraland has approximately 339 total sales of metaverse real estate. Real estate in the metaverse is an amazingly speculative investment and hence gaining huge opportunities in this digital realm. Consequently, this factor is intensively flourishing the growth of the market for metaverse real estate across the globe. However, high cost of metaverse real estate and lack of awareness especially in emerging countries which may hamper the market growth. As, Sandbox’s top seller, LAND #48766, was sold for around USD 57,171.00 or Decentraland’s top seller, EST #1965, for almost USD 758,250.00. This may pessimistically affect the metaverse real estate market all over the world. Despite this, technological advancements in terms of security in devices and improved user security & high confidence among users can provide massive opportunities for the further growth of the global metaverse real estate market.