Do I Need An Appraisal Before I Buy Land in the Metaverse?
When you're buying real-life real estate, one of the biggest concerns of everyone who touches the transaction is "Will this piece of property appraise?" Because the real estate industry has so many checks and balances, rules and regulations, it's important that a neutral third party is out there appraising properties so values don't become over-inflated.
But what about the metaverse? Right now, a lot of people are asking themselves if virtual real estate will appraise, including real-world appraisers. Since metaverse transactions are essentially cash deals, and there aren't banks relying on appraisers to assure them that the gamble they're taking on a property or borrower will pay off, there are a lot fewer players involved in any given virtual real estate deal.
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Source Fool.com
