In a year, the metaverse land grab cost close to $2 billion.

Canada Global (Web News)

According to a report, about $2 billion has been spent in the last year on metaverse virtual territories.

Even though it will be years before the metaverse is a single online location where people can do everything from living and playing to working and shopping, people and businesses are rushing to enter it.

One of the creatives who believes in the metaverse is Angie Taylor. She revealed to the BBC that she spent £1,500 on her first package in July 2020.

She was described by the publication as saying, “I bought it for showcasing my own work, but also for conducting metaverse events that would promote my art, as well as other people’s art.”

Taylor has already established two online marketplaces for the purchase of her artwork. She has a gallery on her Voxels world plot where she exhibits her peculiar digital art.

Her properties are about the size of a modest family home. One of them has a terrace with a view of the street and a pink cab on its third story.

Researchers from DappRadar discovered that roughly $2 billion in cryptocurrencies have already been invested, with many going toward buying virtual property. Of this sum, about $22 million was invested on thousands of land plots in Voxels alone.

The comical Decentraland is another well-known world. Sometimes, the land in this region is sold for millions of dollars. Major real-world corporations like Samsung have purchased land in Decentraland and have started construction on shops and visitor centres.

Philipp Plein, a high-end clothing company, also paid $1.5 million for a sizable plot of land that would eventually become a store in the metaverse.

Huge global corporations have purchased properties in the Sandbox, another crypto metaverse.


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