Analytics Firm Says Metaverse Real Estate Sales Expected to Reach $1B

According to a metaverse analytics organization, real estate sales in the metaverse are likely to surpass a billion dollars this year. Real estate sales on four major metaverse platforms, which exceeded $501 million last year, are expected to double this year. According to Metametric Solutions, a metaverse analytics organization, real estate sales on four key metaverse platforms — Sandbox, Decentraland, Cryptovoxels, and Somnium — totaled $501 million in 2021, according to the business. There are a total of 268,645 parcels of various sizes on the four platforms. According to the analytics firm, metaverse real estate sales might double this year, reaching roughly $1 billion in 2022. According to Brandessence Industry Research, the metaverse real estate market is predicted to increase at a compound annual rate of 31% from 2022 to 2028. The metaverse has been projected to be a multitrillion-dollar possibility by many organizations. Goldman Sachs and Morgan Stanley, two major financial institutions have estimated that the metaverse might be worth $8 trillion. Apple CEO Tim Cook stated last week that his company believes the metaverse has a lot of possibilities. He said, ‘It’s very interesting to us.’ Haim Israel, a strategist at Bank of America, said in December that the metaverse is a huge possibility where cryptocurrencies will be widely used as currencies. He further said: “I definitely believe this is a massive, massive opport...