Frantic Metaverse Land Grabbing Set To Persist Into 2022 As Investors Realize Virtual Real Estate Equals Money, Says Predictive Analytics Firm | Currency News | Financial and business news
- Interest in metaverse land sales and rentals will continue to increase this year, NWO.ai said.
- The artificial intelligence firm said online conversations around metaverse real estate have been robust.
- “The hype has the numbers to back it up: over $100 million has already been spent on metaverse lands,” NWO said.
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The mad rush for virtual lands is probably just beginning.
Real estate sales in metaverses like Decentraland and the Sandbox — where plots have sold for millions of dollars — are expected to continue at a brisk pace before peaking in May, though interest will remain high even after, the company says. of predictive analysis NWO.ai .
“We’re really seeing the utility of these properties increase; we’re seeing that people can make real money, that buying these properties equates to real money. It’s going to drive those sales,” Julia Myers said. , machine learning engineer at NOM.
NWO, an artificial intelligence startup launched nearly three years ago, tracks millions of texts like news articles, social media platforms Twitter and Reddit, and Google Search, among others, to predict emerging narratives. wider. For example, NWO said its AI predicted millions of retail traders making massive gains at stock companies like GameStop a year ago, and it predicted trouble for Chinese real estate firm Evergrande.
Conversations around the Metaverse, a virtual world where people can interact, shop, and play as avatars, have been robust. According to Grayscale, the Metaverse represents a $1 trillion market opportunity. In a recent newsletter, NWO said, “The hype is backed by the numbers: over $100 million has already been spent on metaverse lands.”
Over the past year, there have been some eye-popping virtual real estate sales, like Sandbox’s $4.3 million lot sold to Republic Realm. Meanwhile, conversations around renting Metaverse land are also skyrocketing as companies like Tokens.com rent space at Decentraland for major events, including the first-ever Metaverse Fashion Week – where people can buy the latest fashion trends for their look-alike avatars – as well as the first virtual Australian Open.
“The location is really huge,” Myers said. “The same with real life real estate, it all depends on where you are.”
According to NWO, Decentraland has become the main metaverse and upcoming events like Fashion Week will further strengthen it. The growing interest in the metaverse was only cemented by soaring prices of native tokens for metaverses like Decentraland, which jumped 2,000% in one year, according to Crypto.com. Meanwhile, Sandbox’s underlying cryptocurrency jumped over 8,000% and Axie Infinity rose 11,000%, according to crypto.com.
“As people gain confidence in these platforms and that the future is here, I predict we will only see [sales] go up,” Myers said.