Metavers' property prices are in the current market climate
Metavers' property prices are in the current market climate
- "Otherdeed for Otherside" by Yuga Labs is a leader in the cumulative sales of virtual properties with a total value of $ 853 million
- With the growth of the meta pattern, the virtual real estate market also grows
The key to the sustainability of the meta verse could be in the virtual real estate market, Chainalysis suggests.
The latest state of web3 report of the blockchain analyst found the growth of the blockchain-based prices (vre) exceeded physical real estate. VRE prices have exploded by 879 % from September 2019 to March 2022, while real real estate prices rose by 39 % in the same period.
Of course, virtual and physical real estate are not the same. People need land, houses and buildings to live, work, learn and sleep. Metaverse real estate, on the other hand, is all about retail, relaxation and social activities.
According to Chainalysis economy Ethan McMahon, any correlation between physical and virtual real estate markets could be attributed to their relative terms: Virtual real estate are only a few years old and therefore have a much higher volatility than their mature counterpart.
One of the main drivers of the NFT country demand that the report calls is access to private events and token-gated communities. The demand leads directly to the sale of virtual real estate.
The Bored Ape Yacht Club, for example, who was a leader in bundling his NFTs with socialization entertainment for his community members, gathered ether with $ 320 million from his OtherDeed land sales for his upcoming Otherside-Metaverse on the first weekend. According to Yuga Labs, it was "many times the largest NFT coin in history", whereby sales traffic triggered heavenly gas fees in the Ethereum-Minnet.
OTHERDEED for Otherside has around $ 853.6 million at the time of publication, the greatest cumulative total value of property sales in Metaverse real estate. according to to dune analytics. Decentraland takes second place with around $ 378.6 million and The Sandbox takes third place with a cumulative sales value of $ 227 million.
A growing number of large companies buys meta-sance and opens up shops, including Adidas, Burberry, Gucci, Nike, Samsung and Louis Vuitton. JPMorgan was the first bank to get started in Decentraland by signing a one -year real estate rental contract in February, and HSBC followed a month later with a bought property.
back then jpmorgan Expenses for a piece of virtual country in the TCG World Metaverse, that runs on Binance Smart Chain (BSC). In the second largest deal, republic realm paid $ 4.3 million for a piece of the sandbox.
Great sales in a certain area therefore affect the prices of the surrounding properties, both in the physical and in the digital world. As a result, speculators can benefit from short -term profits. But speculation can only increase the value of digital property as long as there is scarcity and liquidity.
The most important value driver in meta-verse will be the benefit that is currently the "missing layer for most metaverse platforms", said Sam Huber, CEO of the MetaVERSE development studios Landvault, to block works.
benefits are directly related to business models that land owners can build on their country, he said. From the sale of NFTs as admission tickets for events to e-commerce and advertising-every potentially generated turnover gives the Metaverse-Land a value.
While blockchain-based virtual properties are relatively new, it is not the concept of digital property. Whether video games Second Life, Fortnite, Roblox or Minecraft, virtual worlds have already successfully popularized meta -verse assets and resources.
"There will always be speculation, but at some point the benefit will win the upper hand when more and more people enter the meta personation, and it makes more sense to own land and build a business on it," said Huber.
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The post "Meta -offs land prices are in the current market climate" is not a financial advice.