January 13, 2022
The Metaverse is the new hot topic in the crypto world. Ever since Facebook changed its name to Meta ($FB), many more investors and VC’s have gotten interested in the Metaverse space. Metaverse Group recently bought digital land in the Decentraland metaverse for $2.6 million!
The Metaverse is so new that most of the hardware required for a whole Metaverse experience has not been fully developed yet. Some say investing in the Metaverse now is like investing in altcoins in 2014: there is simply no way to know this early which metaverse coins will survive and which ones will die off and be forgotten. Right now, we are in a purely speculative phase.
Regardless, some high-profile investors like Lorne Sugarman are comparing buying land in the Metaverse today similar to buying property in Manhattan in the 1800s. It is tough to tell if they are claiming this just to generate hype and interest during this early stage or if they actually mean it. The land in many of these Metaverses is indeed limited, so if the Metaverse attracts enough users, then the land in these Metaverses could become extremely valuable. The Sandbox metaverse is already getting built by relatively large companies and celebrities, such as Snoop Dogg and Atari.