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It's 100% Crazy! But Virtual Real Estate is Here. To the Tune of $30 TRILLION! 🤯🔥
Part One is all about What We Know in our two-part trend report.
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ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Virtual Real Estate + Metaverse + NFTs 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ $30 TRILLION within the next decade! ]
- thanks robert!
Matthew Ball, CEO of Venture Capital firm Epyllion, believes that the metaverse economy could value between $10-30 trillion in the next decade – but the current big tech players won’t have it all their own way.
Ball, who launched a metaverse ETF with Roundhill investments in June of this year, made the prediction in an appearance on Bloomberg News this week. It has been claimed by Nvidia CEO Jensen Huang that the metaverse economy could one day even eclipse that of the real world ($80+ trillion), but Ball offered his own bullish, but slightly more conservative take.
“Even if you have more modest expectations, precedent from the digital economy, the internet, the mobile internet, suggests that this is a $10-30 trillion opportunity that will manifest in a decade or a decade and a half,” said Ball. “Our belief is that value will be widely distributed across the semis, the computes, the payment companies, virtual platforms, and other infrastructure providers.”
>> [ $100 Million+ in sales just between Decentraland and The Sandbox! ]
- thanks dapp radar!
Metaverse land is the new big hit in the crypto community, as leading virtual worlds recorded upwards of $100 million in NFT land sales in the past week. According to DappRadar data, activity for The Sandbox, Decentraland, CryptoVoxels, and Somnium Space is booming.
The four leading virtual worlds attracted combined traffic of more than 6000 traders in the last week. The Sandbox is leading the pack with both the highest number of traders and sales. It also had the highest trading volume with more than $86 million. Decentraland follows in second place with more than $15 million traded for land plot NFTs.
>> [ digital land selling for more than NYC and SF homes! ]
A plot of digital land was just sold in the metaverse for $2.43 million — more than most homes in NYC and San Francisco cost
- thanks phil!
Real estate is booming in the metaverse.
A plot of digital land in Decentraland — an online, virtual-only environment — sold for a record $2.43 million worth of cryptocurrency on Tuesday, more than double the prior record high for virtual real estate, which was more than $913,000.
That's also a smidge higher than the average home price in Manhattan and well above prices in the other boroughs, as well as dwellings in San Francisco.
>> [ a record $4.3 million plot just sold! ]
A plot of virtual land that went for $4.3 million in The Sandbox is the most expensive metaverse property sale ever
- thanks carla!
Prices for virtual land set a new milestone Tuesday with one company buying property in The Sandbox metaverse for a record $4.3 million, according to The Wall Street Journal.
Republic Realm, which invests in and develops virtual real estate and other digital assets, purchased the land from Atari SA, marking the biggest metaverse property sale publicized to date, the WSJ reported citing Republic Realm and data from NonFungible.com.
Republic Realm owns about 2,500 plots of digital land across 19 worlds, according to WSJ. The company sometimes decides to sit on vacant metaverse property and wait for it to appreciate. Other times it will pay an architect to design virtual homes or malls and then hire a game developer to build them, the report said, citing Republic Realm's co-founder Janine Yorio.
>> [ someone just dropped $450K to be Snoop’s new neighbor! ]
- thanks kate!
Snoop Dogg is recreating his California mansion in The Sandbox, a decentralized metaverse game on Ethereum that minted its first wave of virtual lots in the “Snoopverse” yesterday. A plot next to Snoop’s virtual property sold today for close to 71,000 SAND, the native token of The Sandbox, which is about $450,000.
Virtual land in The Sandbox is being sold as NFTs, which are unique tokens that grant ownership rights over digital items—in this case, plots of digital real estate. The Sandbox LAND NFTs can be bought and sold just like any other NFT on platforms like OpenSea.
In response to the news that a plot next to his sold for $450K, Snoop Dogg tweeted out, “Won’t you be my neighbor.”
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for Part Two in our report.
We’ll discuss on how to position ourselves as a new player in the Virtual Real Estate + Metaverse + NFTs 🔥 space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.