Infotech

The world of the metaverse in the midst of a real estate bubble



Posted Feb 19 2022 at 9:30 amUpdated Feb 19. 2022 at 9:38

The virtual world is experiencing a bubble, it is very real, reminiscent of that of American risk mortgage loans (subprime) in 2007. Real estate in the metaverse has seen its prices (in dollars) be multiplied by 300 in a little more than two years, between December 2019 and January 2022. The price of a house in the United States has increased by almost 30% over the same period, according to the S&P/Case-Shiller index. It had been multiplied by 2 during the American real estate bubble, from 2000 to 2006.

It was from last summer that speculation sent prices soaring in the metaverse, according to a recent study

which analyzed 71,000 sales on the largest real estate field in virtual worlds, that of the game The Sandbox. Participants can buy lots of size (1 to 576 plots) and more or less high prices, in the form of NFTs, these crypto-certificates which are their title deeds.

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