- According to the report, virtual reality property will reach $5 billion by 2026.
- This report is based on the prediction of a global market research-based company, Technavio.
- The following prediction was made through the rise of a virtual world with actual reality.
The global market is getting more familiar with accepting the latest technology. And metaverse real estate is an advantage of the latest technologies. It’s a mix-up of the digital world and the actual world.
The Affection For ‘Metaverse World’
The metaverse world is on its way to becoming more common in today’s world. People are openly accepting this virtual world of reality. Rapid growth is estimated in the metaverse real estate world. This indicates that people eagerly await to be a part of this virtual ecosystem.
If we look at the reports, it represents the virtual real estate value will rise by $5.36 billion by 2026. This report is based on the proper market research and analysis of Technavio.
Two-Phase Expansion
According to that, the upsurge of metaverse real estate is done into two phases. In its first phase, the metaverse slightly moves toward mixed reality. That will affect the global market. As a result, the demand and popularity of metaverse will increase with time.
The metaverse real estate represents its basics. Where the visitors can reside. Also facilitated by using annotations and decoding tags for various application-specific purposes.
The metaverse world will represent its benefits with the digital currencies in the second phase. That will become more common with its usage of digital currencies. Also, in the second phase, people will use cryptocurrencies to make the purchase, rent, or sell metaverse real estate.
Major Challenges
The virtual real estate world will face many challenges throughout its growth. As it is far way different from the actual real estate. As per the report, the price of virtual real estate will be based on different factors. It would depend on the understanding of market fluctuation and its perceived price.
Conclusion
The market fluxes can negatively affect the investments of companies and investors. As most of the upsurge will come from investors and companies in North America. It is further estimated the investment will be around 41% over the estimated period.
On the other hand, it is estimated that the growth of the metaverse world this year will reach around $1 billion.
Source: https://www.thecoinrepublic.com/2022/07/25/metaverse-real-estate-estimated-sales-rise-by-5billion-by-2026/