A little over a year ago, to talk about Metaverse real estate, I had to come out of nowhere to make a statement or share my latest research on the topic. It was a big part of my life, documenting my progress from concept to reality.Then came crypto winter, when land prices in popular destinations Deathland (for example -5.76%) and sandbox (SAND -2.78%), sales activity plummeted.
There was little to track in the world of Virtual Land, but I kept track anyway. Emerging technologies are always a bumpy road. After a while, though, the ride started to feel less and less moving. And I’ve almost completely given up on my hilarious optimism for the future of the Metaverse.
I’m certainly glad I didn’t. There were some bright spots of light, but as a result they got bigger and bigger.
There’s a lot of flash in the Metaverse real estate pan
Despite the war in Ukraine, despite the global economic downturn, climate change, and all sorts of horrible events happening on this planet, the Metaverse has endured. It wasn’t a great year for us either, but in a way it got them thinking about more creative ways of doing business.
Coins.com (SMUR.F 7.12%) not only leased land for the Metaverse platform in 2022, but also provided consulting services. In the fourth quarter of 2022, he received $23,000 in rent refunds from his $2.8 million worth of land holdings, according to recent filings. Metaverse consulting includes helping a tenant design a virtual structure for his $85,000 brought in virtual land. On an annualized basis, the fourth quarter showed gross returns of about 15% on its $2.8 million land.
Big names continue to vie for tablespace
At Metaverse Fashion Week at the end of March, it’s easy to talk about brands that want a piece of the Metaverse. While real-life fashion brands still make money selling fashion NFTs for their avatars, they are using these opportunities to reach real-world customers and give them the option to buy the real thing in the real world from the Metaverse. Expanding.is becoming
But the metaverse is seldom dominated by hipsters. Dow Jones It has itself set up its own virtual headquarters in Decentraland. KB Home, a virtual tour of a real-world home that is currently for sale.big banks too HSBC A virtual golf course opens in the sandbox.
assets are melting
At that moment, with Crypto Winter on the horizon, the world nearly froze to death, fascinated by the possibilities of the Metaverse. While assets such as coins are still well below their highs, something miraculous happened in January.
The fact that the Crypto Fear and Greed Index finally peaked and remained (mostly) above “fear” not only shows that crypto enthusiasts and investors are back in the saddle again. , this upward trend has also caused the value of the Metaverse coin to skyrocket. With help from the likes of Mana, which rose from $0.44 per coin on Jan. 13 to $0.61 on Jan. 14, it has remained at about that price or higher since then.
Various price indicators for Metaverse Real Estate also rose significantly during that period. Decentraland’s average daily lowest price (that is, the lowest average price of a crypto asset on any given day) has gone from $1,502.47 in December to $2,037.76 in January. The Otherside, in development on the Metaverse Platform Bo Ap Yacht Club and he walks appcoinThe average selling price of virtual land in December jumped from $2,645.46 in January to $4,198.23.
So far, these are trends that continue on these popular platforms.
I still believe the metaverse has a future
The Metaverse will never fully be understood by my generation, Generation X, even if we learn how to use it to raise brand awareness, or start a company in the Metaverse. trying to use But we are not the target audience for this new type of online interaction. It’s Generation Z.
These people were born between 1997 and 2012 and have spent their lives investing in centralized platforms that look like the promise of a decentralized metaverse. roblox and microsoftof Minecraft. There are currently about 70 million of these people in the United States, but only a minority of them are economically in the Metaverse now that they are old enough to have a cryptocurrency wallet. The rest can only come with the visitor or using someone else’s account.
However, the rank of GenZ over 18 is increasing every day. They are doing things we never thought possible in the virtual world, interacting with brands, learning about new products, and having fun.
This winter, I really realized that Gen Z is the future of the metaverse, and believe it or not, it’s coming.
HSBC Holdings Motley Fool Company is an advertising partner of The Ascent. Christy Waterworth has positions at ApeCoin, Decentraland, Ethereum, Roblox and The Sandbox. The Motley Fool publishes and recommends articles on Ethereum, Microsoft and Roblox. The Motley Fool U.S. Headquarters recommends HSBC Holdings and his KB Home. The Motley Fool’s U.S. headquarters has a disclosure policy.