As interest in the Metaverse grows, more and more investors are buying virtual properties from digital universes that they believe will be the future of business and entertainment.
Tokens speaking to CNBC. com founder Andrew Keagle talked about why some investors are willing to spend millions of dollars on land parcels. Keagle also stated that prices have increased by 400% to 500% in the last few months.
While the land doesn’t exist in the real world, it does exist in the metaverse, and opportunities abound in this universe, according to the entrepreneur whose company recently spent almost $2.5 million in Decentraland (MANA).
Digital Spaces Cost the Same as a Home in the USA
Republic Realm CEO Janine Yorio, whose company recently spent $4 million on a plot of land in Sandbox (SAND), revealed that last year it sold more than 100 private islands on the platform at $15,000 each:
Real estate broker Oren Alexander commented on the subject:
Similarly, Keagle added: