Buying virtual real estate10/2/2023 One day, she says, she and her husband (and her children, when they're grown up) will be working full-time in the metaverse. Lisa in Sydney is betting there's something in these predictions and that TCG World will be one of the winners. " can fundamentally change the medium through which we socialise with others," one prominent investment strategist wrote at the time.Īnother stated: "It has the potential to disrupt almost everything in human life." Suddenly, the metaverse was the future of … everything. "We've bought a number of plots and a number of virtual farms," she said.įacebook's involvement lent credibility to the idea and triggered the current boom. They've also invested their time, spending up to 10 hours a week volunteering as virtual real estate agents and forum moderators. Lisa, who runs a consultancy business in Sydney, and her husband, a federal public servant, have spent a "significant amount" on several plots of virtual land in a metaverse called TCG World. ![]() So what is virtual land, what are the risks for potential buyers, and who's actually buying it? The Sydney family 'buying plots for our children' ![]() Within a few years, the market size of the metaverse could be valued in the trillions, according to investment banks like Morgan Stanley.īut as the hype goes into overdrive, some are warning that virtual land is just another pyramid scheme, driven by baseless speculation, and when it fails many will lose their money. Virtual real estate is booming, with sales topping $US500 million ($700 million) last year and predicted to double again in 2022.
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