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 is also growing. The key to sustainability of the meta pension could be in the virtual real estate market, Chainalysis suggests. The latest state of web3 report of the blockchain analyst found the growth of blockchain-based prices for virtual real estate (VRE) has exceeded this for 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. ...
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.