Metaverse: real estate
by Jackson Franks
The largest ever land acquisition took place towards the end of last year; it’s value:US$2,400,000. You may be thinking I’m missing a few zeros here, but what I haven’t yet mentioned is that this transaction does not relate to the real world but instead refers to Tokens.com’s purchase within the metaverse.
In November last year, Tokens.com’s subsidiary, Metaverse Group, paid more than US$2.4m for a plot of virtual land in the fashion district of Decentraland, one of several growing platforms within the metaverse. Although this amount may seem obscene to many readers (including myself), the more eye-catching fact here is that it accounted for less than 50bps of real estate sales within the metaverse for 2021
- Global equities rose +6.0% last week
- The Fed raised interest rates by 25 basis points ending the near-zero rates of the pandemic era
- Brent crude fell -4.2% over the week to $107.9 a barrel
- Gold returned -3.4% to $1921.6 per ounce