all about cryptop referances
The real estate market in the metaverse is projected to cross $5 billion by 2026. This is the prediction of the latest metaverse report by Technavio, a global market research firm. The report says that the rise will be driven by the growth of the metaverse into a mixed reality environment, where people can take advantage of these areas.
As the metaverse becomes a more living, tangible breathing world, more and more people will be interested in becoming part of its social ecosystem. The real estate market in the metaverse is affected by this popularity. A recent study produced by Technavio, a global market research firm, predicts exponential growth in the value of this market.
The report, which also studies other factors related to this emerging market, estimates that the value of virtual real estate will grow by $5.36 billion by 2026. This expansion will be driven by two factors. First, the metaverse will gradually move towards a more mixed reality experience, adding more value to these platforms where visitors can inhabit, take notes and decode codes for various application-specific purposes.
The second reason has to do with the popularity of cryptocurrencies, which will make this type of property more accessible and easy to buy to sell or rent, allowing the owners to earn a passive income.
But not everything is rosy for the virtual real estate market. It is still a rebel sector that still needs to find its place, as it is very different from the real estate market. Each virtual country will have its own price depending on several factors that differ from case to case. The report states:
Virtual land price does not follow the price pattern of the physical world. Therefore, the value of digital assets, including metaverse real estate, will basically depend on how the buyers perceive the price, thus leading to fluctuations.
These fluctuations may adversely affect the investments of companies and users interested in entering these nascent instruments. Most of this spread will come from investors and companies in North America, with the region accounting for 41% of the investments made during the stated period, also as a result of the high adoption of applications that include metaverse technology.
Another report released last February estimated that metaverse real estate sales would reach $1 billion this year.
What do you think about the projected growth of the metaverse real estate market? Tell us in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
