Revaluation of metaverse assets expected in 1-2 years
The market is embracing an “if you build it, they will come” attitude, the specialist said. In particular, there is a push towards casual experiences such as social hangouts and sports viewing. Fashion and gaming have had the highest involvement in the metaverse to date, with music now also “starting to take its place”. What is telling is that “no less” than half of metaverse land buyers have an institutional background, which signals that “this is not just a hobby”, according to the expert.
They acknowledged that winter of 2021 depicted metaverse real estate as over-hyped and under-delivered, with a big gap in year-on-year prices now apparent. However, they believe there will be a revaluation of assets in the next 1-2 years.
Something every metaverse owner “absolutely must know”, we were told, is footfall across their land, as this alludes to its desirability. For example, less developed land experiencing greater traffic could indicate a significant upcoming development in the area. Even seasoned metaverse real estate owners sometimes overlook this and can consequently miss out on opportunities, they said.
Given the metaverse’s infancy, the expert believes there will be “several years of runway” before the US Securities and Exchange Commission announces related regulations – and what they ultimately look like is “very much dependent” on observations in the US.
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