Investors Buy Up Metaverse Real Estate in Virtual Land Boom | WSJ

Real-estate transactions in the metaverse are reaching record highs. We spoke with companies investing in digital real estate to understand the economic model, and why investors are spending millions on virtual property. Photo: Republic Realm

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  1. I believe VR will blow away all existing social media, as well as games, and even TV. I think it will be addictive. Soon people will work harder in the real world, just to be able to buy some hot new trendy item in the Metaverse. But, ultimately, it will go the same way as the real world, where those with real money can buy up all the best land, houses, buildings, views, cars, bling and fashion – and the poor will be excluded. A cross between Beverley Hills, Disneyland and Las Vegas. As soon as the choice of metaverses is settled, and enough customers are signed up and addicted, quite quickly, access to the metaverse itself will only be for those who can afford the subscription. The interest of so many big investors means all but the most speculative investments are already out of the reach of normal people. So you might decide to buy a piece of land far enough away from the nearest city to make it affordable, but near enough that the city might eventually grow to make your land more valuable if you sit on it for 10 or 20 years. But this is the metaverse not the real world, and everything that happens in the metaverse can change in unpredictablel ways, and will be controlled and geared, like everything else, towards maximising shareholder value. So your land might always remain unwanted. Then, of course, you might be unfortunate enough to buy land in the MySpace metaverse…

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