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Some 3% of US adults have already purchased real estate in a metaverse environment, and a further 8% are interested in staking their claim on a digital land plot. That said, more than half of US adults have never heard of virtual real estate, indicating we’re still a ways out from society going meta.
Beyond the chart: What does it even mean to own virtual land? It’s not clear yet, but presumably, all the live concerts, storefronts, and gaming worlds of a metaverse have to sit somewhere on the platform. Brands seeing success in this space might consider investing in a more permanent address in the metaverse.
In April, the creator of Bored Ape Yacht Club listed land deeds, in the form of nonfungible tokens (NFTs), for $6,000 apiece, sparking such a buying frenzy that it overwhelmed the Ethereum blockchain. But with cryptocurrency value deflating and no consensus on which metaverse environment—if any—will stand the test of time, it could be too big a gamble. Especially when we factor in the supply of metaverse land, which could, in fact, be infinite.
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