Digital Real Estate Is Selling for $4.3 Million: Here's What to Know
As we watch housing prices in various big-city markets surge, investors may have gotten accustomed to seeing double-digit growth in real estate assets. Indeed, taking this growth for granted has become easy. However, looking at digital real estate, we're seeing some pretty impressive trends as well.
Virtual real estate, or digital properties representing ownership in virtual worlds, is fast becoming the hottest item in the non-fungible token (NFT) universe. It is now even possible to get a mortgage on a metaverse property. Digital land sales topped $500 million last year and are expected to compound at a rate of 31% per year through 2028.
Major corporations are making investments in digital real estate. Indeed, the malls and art galleries of the future may well be in a digital space. For those interested in just how large virtual real estate is becoming, here are some of the largest cryptocurrency-driven real estate sales to date.
Source Fool.com