Real estate, one of the oldest businesses, is expanding into virtual and augmented reality fields. Investors are increasingly looking at exciting ways to utilize the technologies for personal benefits in light of virtual and augmented reality’s arrival.In light of this, real estate in the metaverse is <a href="https://nftandgamefi.com/2023/01/27/metaverse-benefits-use-cases/" rel="noopener noreferrer nofollow">one of the forms of investment</a> currently popular and ranks high in terms of activity and functionality.Compared to other investment channels, such as cryptocurrencies, NFTs, and so on, the concept of investing in real estate through virtual reality is still in its infancy.In 2017, Dencentraland, a <a href="https://nftandgamefi.com/2021/12/28/is-metaverse-land-rush-fake-and-are-all-metaverses-the-same/" rel="noopener noreferrer nofollow">pioneer in virtual real estate</a>, began selling houses and plots in their 3D virtual world for as little as twenty dollars each; the topic was thrust into the spotlight and has remained there ever since.<h2 id="header-0">How It All Started</h2>When Second Life, a platform for 3D virtual worlds, first went public in 2003, this marked the beginning of the metaverse. But the virtual real estate market didn’t take off until late 2021 when Mark Zuckerberg placed a hyper public bet on the future of the next digital frontier by announcing that the social media platform formerly known as Facebook would now be called Meta. At that time, virtual real estate was still in its infancy.<img src="https://i0.wp.com/nftandgamefi.com/wp-content/uploads/2023/02/image.png?resize&#61;1024%2C470&amp;ssl&#61;1" />Since then, the prices of land transactions in the metaverse have risen to seven figures. For example, a virtual estate in Decentraland was <a href="https://www.reuters.com/markets/currencies/virtual-real-estate-plot-sells-record-24-million-2021-11-23/" rel="noopener noreferrer nofollow">purchased for $2.4 million</a> in November 2021, and another in Otherside was purchased for $1.65 million in May.And at this point, are not only billboards and fast food restaurants for avatars being built on these plots of land, but also people’s homes. They do not provide any kind of protection or a place to sleep. Yet, they provide a space for our increasingly online selves to assemble and display their accomplishments.Read the full article: <a href="https://nftandgamefi.com/2023/02/22/real-estate-metaverse/" rel="noopener noreferrer nofollow">The Next Real Estate Market Isn’t Here – It’s in Metaverse</a>

The Next Real Estate Market Isn’t Here – It’s in Metaverse

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