To know the impact of COVID-19 On Metaverse Real Estate Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By End-User (Commercial, Residential) Based on Region, And Segment Forecasts, 2022 - 2028 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Metaverse Real Estate Market Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Soaring popularity of metaverse real estate across the globe and rising inclination towards NFTs in the metaverse environment are some of the major factors driving the growth of Global Metaverse Real Estate Market.
The Metaverse Real Estate Market is valued at a CAGR of over 31.2% over the forecast period (2022-2028).
Scope of Global Metaverse Real Estate Market:
The sudden popularity of metaverse in the real estate market is skyrocketing and various investors are willing to pay millions. The market is expected to witness attractive growth in the coming few years. Metaverse is a step in the direction of the digitalization of the real world. It is referred to as a decentralized computing platform and virtual reality experience contained various diverse digital realms. Over the past few months, the term “Metaverse” has been rising in popularity owing to the business opportunities that arose. Players can purchase land, build stores, and art galleries in this metaverse real estate platform. Metaverse real estate is one of the platforms where one can do anything they want to do in a virtual world. The price of virtual real estate is based upon most of the same factors as one has to determine the value of a piece of actual real estate such as location, lot size, existing structures, and demand all play a huge role in valuation.
Covid-19 has optimistically impacted the growth of the global metaverse real estate market as the quarantine and social distancing throughout the pandemic forced whole lives online. The limitations of existing platforms are starting to become apparent. Thus, the Covid-19 crisis is leading the whole world to the metaverse and also its application in real estate. Thus, manifold companies have also poured millions into new innovations and research & development in the digital realm of the metaverse including real estate. And, they are also hoping to offer a new fictional universe that can be accessed via the internet. This has intensively shown a huge curve in the popularity of metaverse real estate.
Global Metaverse Real Estate Market Segmentation:
The Global Metaverse Real Estate Market is segmented on the basis of component, end-use, and region & country level. Based on components, the metaverse real estate market is divided into hardware and software. Based on end-use, the metaverse real estate market is divided into residential and commercial.
The regions covered in global Metaverse Real Estate market report are North America, Europe and Asia Pacific. On the basis of country level, the market of global Metaverse Real Estate is sub divided into U.S.A, Canada, Mexico, Germany, France, Russia, Spain, China, Japan, and India.
Key Players for Global Metaverse Real Estate Market Report:
Some of the key players for the metaverse real estate market across the world are:
- Linden Lab
- Metaverse Group
- Decentraland Marketplace
- many more.
News: T&B Media Launched 'Translucia' Metaverse, a Virtual World, Partnering with MQDC in Property -- a New World First
On September 30th, 2021; T&B Media Global (Thailand) planned to invest 10 billion baht to launch the Translucia metaverse, the first imaginative virtual world in Thailand, with property developer Magnolia Quality Development Corporation (MQDC). Translucia's first partner is MQDC, which plans to develop projects in the metaverse. MQDC is the first property developer to use Translucia. It plans to develop a city in this virtual world as it prepares to create a new entity, MQDC Metaverse, responsible for urban development and virtual real estate projects.
Superworld & Tokens.com To Form Strategic Metaverse Partnership
On January 14th, 2022; The virtual world platform SuperWorld has partnered with Metaverse Group, a subsidiary of publicly traded company Tokens.com, who will bolster their metaverse presence by investing up to USD $1 million on SuperWorld’s virtual real estate platform. The partnership diversifies Metaverse Group’s eight figure portfolio, with investment focusing on virtual real estate that encompasses historically and culturally significant locations, along with landmarks and newsworthy sites where creative projects, entertainment and future events will be hosted by Metaverse Group.
Virtual Plot worth $4.3 Million Sold On Metaverse
On December 11th, 2021; the virtual land was acquired by a developer from the video game company Atari. The metaverse archived just to retain breaking themselves. A plot of virtual real estate was just sold for nearly USD 4.3 million in The Sandbox, creating it the most expensive metaverse property sale as of December 8, 2021. In accordance with the Wall Street Journal, the virtual land was attained by the developer from Atari, which is one of the leading video game companies.
Global Metaverse Real Estate Market Dynamics:
Increasing investment in metaverse real estate market and growing popularity among the population are some of the major factors driving the market growth. Metaverse real estate is the latest buzzworthy investment right now which is hugely gaining popularity all over the world. Number of players fully intend to generate spaces like virtual malls and other rentable properties. The concept of metaverse real estate captured the hearts and minds of nearly 70% of Americans. As, the masses of metaverse real estate platforms, like Decentraland, Sandbox and many others are available nearby the world. For example; Metaverse Group, one of the first companies to get into the digital real estate business operated a virtual world called Decentraland. Token.com announced that on average 116 parcel estates were sold for the equivalent of about USD 2.5 million. As well as, on December 8th, 2021, The Sandbox platform trading in virtual real estate has about 2,182 sales in a week. Further, Decentraland has approximately 339 total sales of metaverse real estate. Real estate in the metaverse is an amazingly speculative investment and hence gaining huge opportunities in this digital realm. Consequently, this factor is intensively flourishing the growth of the market for metaverse real estate across the globe.
In addition, the enormous inclination towards NFTs in the metaverse real estate environment is another aspect that is augmenting the evolution of the market. For example; the data from the platform NonFungible.com indicated that there has been across USD 300 million in NFT sales in December 2021. Of that total, nearly a quarter has been for digital land in The Sandbox metaverse. Also, on January 4th, 2022, PwC bought virtual land NFT in the Sandbox's metaverse. Apart from the aforementioned points, in 2020, throughout an online auction, there was a digital artwork that sold for on an average five hundred thousand USD. It was the first NFT digital house sold and was a landmark moment in NFT technology. This sale marked the start of the craze around virtual real estate NFTs. The metaverse is an immersive virtual reality experience of the internet that uses NFT technology to pay and own items online. As a result, NFT is playing a vital role in the real estate platform of the metaverse which is further pushing courtesy of millions of people towards it. Hence, soaring demand of NFTs in metaverse land is more expressively booming the market for global metaverse real estate.
However, high cost of metaverse real estate and lack of awareness especially in emerging countries which may hamper the market growth. As, Sandbox's top seller, LAND #48766, was sold for around USD 57,171.00 or Decentraland's top seller, EST #1965, for almost USD 758,250.00. This may pessimistically affect the metaverse real estate market all over the world. Despite this, technological advancements in terms of security in devices and improved user security & high confidence among users can provide massive opportunities for the further growth of the global metaverse real estate market.
Global Metaverse Real Estate Market Regional Analysis:
On a geographic basis, North America is expected to capture the largest share of the global metaverse real estate market increasing investment in the metaverse real estate and presence of many players in this region. When it comes to innovations and technologies, the U.S. is always at the forefront across the world as it is one of the developed countries. Indeed, lots of major players have a huge presence in this region. The concept of investing millions on the non-existent property may sound ludicrous, but feverish estimates of a virtual reality future are forcing investors to bet giant on metaverse real estate. For example; in December 2021, New York-based Company Republic Realm announced that it had spent a record-breaking of around USD 4.3 million on digital land through The Sandbox, one of numerous “virtual world" websites where people can socialize, play games, and even join concerts. That came hot on the heels of about USD 2.4-million land purchased in November 2020 on a rival platform, Decentraland, by Canadian crypto company Tokens.com.
Europe is expected to be fastest-growing region in the global metaverse real estate market owing to the highly growing metaverse industry towards gaming. The metaverse is already moving complete steam ahead in the games industry. Each one of the top metaverse sales was in-game digital land. For example, a plot of digital land was just sold for around USD 2.3 million on Axie Infinity, as the real-estate race heats up through the metaverse. The potential for gaming in the metaverse is skyrocketing in this region which is further creating enormous opportunities for real estate in the metaverse.
On Special Requirement Metaverse Real Estate Market Report is also available for below Regions and Country:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Key Benefits of Global Metaverse Real Estate Market Report:
- Global Metaverse Real Estate market report covers in-depth historical and forecast analysis.
- Global Metaverse Real Estate market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Metaverse Real Estate market report helps to identify opportunities in the marketplace.
- Global Metaverse Real Estate market report covers an extensive analysis of emerging trends and competitive landscape.
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Metaverse Market Size, Share, Companies & Trends Analysis Report 2021-2027
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Metaverse Real Estate Market Size, Share, Industry Trends Analysis, And Growth Forecast By 2028
Metaverse Real Estate Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By End-User (Commercial, Residential) Based on Region, And Segment Forecasts, 2022 - 2028
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