Virtual real estate is a rapidly evolving market, including digital properties within virtual worlds, such as online games, social media, and metaverses like Decentraland and The Sandbox. These platforms have already attracted significant investment, with Decentraland’s MANA token reaching a market capitalization of over $1.5 billion in 2021.
Virtual properties can take various forms, including virtual land, buildings, and other unique assets, which users can buy, sell, develop, and lease. Notably, the virtual land market has witnessed remarkable growth, with some plots selling for over $1 million. Cryptocurrencies and blockchain technology facilitate virtual real estate transactions, enabling secure and transparent ownership verification and transfer.
According to a report by MetaMetrics Solutions, the global blockchain-based virtual real estate market is projected to reach $5.1 billion by 2026, growing at a CAGR of 67.5%.
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