Companies are spending millions on virtual real estate in the Metaverse

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Whereas most of us nonetheless can’t afford to purchase a home in the true world, buyers are pouring tens of millions of {dollars} into shopping for up digital land in faux ones.

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CNBC studies that since Facebook made the move towards becoming Meta, costs of digital plots have gone up by as a lot as 500%. One firm reported spending over $2.5 million USD on land in Decentraland, a metaverse primarily based round crypto full with its personal foreign money the place every piece of content in the game is owned, completely autonomously, by the players. One other agency revealed spending $4.3 million shopping for a plot of land in Atari’s The Sandbox metaverse.

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