Digital assets, cryptocurrencies and NFTs, are all over the news these days. But a huge new wave has rapidly started behind the scenes – the Metaverse. The Metaverse is a network of 3D virtual worlds, focused on social connections facilitated by the use of virtual and augmented reality headsets. The big kicker here is that many new Metaverse worlds are also implementing digital assets, some of which have real estate investors paying hundreds of millions on “digital land.”
Now you might think that spending millions on digital real estate is a poor investment. But this relatively new industry is actually expanding much faster than the general population understands. Real estate sales across four of the major virtual platforms have already topped more than $500 million last year, according to MetaMetric solutions. We can all expect to see it expand into a multi trillion-dollar business in the near future. We are heading towards a virtual world.
Danny Shamooil, CEO at VORO, likened the metaverse to the early days of Netflix.
In his recent interview by the New York Post, Danny said “When Blockbuster closed you had no choice but to download Netflix,” he said. “People don’t do good with change. But they are adapting, learning and getting educated. People are learning how to open wallets and use crypto more frequently.”
Read more about the New York Post interview and article below