Finance Monthly - December 2022

Finance Monthly. F i nanc i a l Innov a t i on & F i nTech 37 The digital real estate market had a ‘boom’ moment last year as excitement around the metaverse triggered a 700% rise in the average metaverse property price. According to DappRadar, the ten largest virtual worlds have generated over $1.9bn in digital real estate sales since their conception. This period included many multi-million pound transactions from metaverse real estate firms and big brands, plus individuals - including one user who spent $450,000 on a plot of land neighbouring US rapper Snoop Dogg. It is now estimated that the digital real estate market will continue to grow 31% year-on-year for the next six years. “Nearly half (48%) of all Americans and a third (33%) of all Brits are more likely to buy digital land than physical property.”

RkJQdWJsaXNoZXIy Mjk3Mzkz