A recent study estimated that real estate sales in the Metaverse will increase by $5 billion USD within 4 years.
According to the report, the compound annual growth rate (CAGR) of the metaverse market is 61.74%.
The report says the rise will be driven by the the growth of the metaverse in a more realistic and visible virtual reality environment, where people can take advantage of these spaces.
According to the analysis, this expansion will be driven by two factors. First, the metaverse will gradually move towards a more mixed reality experience, giving more value to these platforms that visitors can inhabit, taking notes and decoding tags for different purposes. specific to apps.
There is a second reason to do so with the popularity of cryptocurrencies, which will make this type of property more accessible and easier to find for sale or rent, allowing its owners to receive passive income. In this sense, the report says:
“The growing demand for cryptocurrencies like NFT, Bitcoin Y litecoin end users, especially companies, are interested in buying digital assets. For example, such cryptocurrencies offer greater accessibility to the virtual real estate sector. Instead of visiting a physical location, shoppers can instantly visit virtual metaverse parcels to shop virtually. Therefore, such factors are expected to drive the global metaverse real estate market demand during the forecast period.”
But in addition, the virtual real estate market is still an insurgent sector that has yet to find its place, since it is very different from the global real estate market. Each virtual land will have its own price depending on a number of factors that are different in each case, some of which are due to the scarcity and location of the land. The report says:
“The price of virtual land does not follow the price pattern of the physical world. Therefore, the value of digital assets, including real estate in the metaverse, would fundamentally depend on how buyers perceive their price, which generates fluctuations.
These fluctuations could have a negative impact on the investments of companies and users interested in engaging in these emerging instruments, the report says.
According to the report, most of this proliferation of virtual land purchases will come from North American investors and companies:
“41% of market growth will come from North America during the forecast period. The United States and Canada are the main markets for the metaverse market in North American real estate. Market growth in this region will be faster than market growth in Asia, South America, the Middle East and Africa.”
“Adoption of technologically advanced applications among consumers and increasing number of major brands purchasing virtual land will facilitate the growth of the metaverse real estate market in North America during the forecast period.”
Other details in the report are that the COVID-19 pandemic has accelerated the growth process of the metaverse: “It has further increased the demand for VR/AR platforms, which has fueled the demand from the metaverse real estate market in the region.”
Sources:Technology, bitcoin.com, yahoo, File, Archive version of DailyBitcoin