BY Mike Diebner
Everyone knows about the dot-com bubble, but real estate brokers and developers in the Metaverse real estate market may find themselves embroiled in an even bigger madness: hype.
E-commerce giant Amazon is planning to launch its own quasi-online house for most of its 35 million members. Metaverse residents who enjoy Amazon’s Prime Shipping and Prime Video services will be able to rent small apartments and houses, enjoying a minimalist lifestyle with name brand furniture and a Whole Foods nearby. Soon-to-be tenants are encouraged to print out a personalized apartment portrait and to give their furnishings to Prime-certified decorators on Amazon Home Services.
Metaverse real estate is popping up everywhere, but buying a home is still largely through traditional real estate brokers or agents. It’s not clear if the average investor in the Metaverse real estate market knows what will happen once Amazon opens its virtual real estate outpost and people start to feel more comfortable buying and selling property in the virtual world.
What is good news for Metaverse investors is that they are not shy buyers. The virtual property market is booming, and investors who can use information found in Metaverse monthly real estate trends reports to make good purchasing decisions are well served.
Analysts predict that real estate is the next step in the Metaverse land boom, and potentially the only way for investors to get into the game at this time. The trend report for the month of June shows that homeowners in the Metaverse sold about 1,200 parcels for a total of $360,000. This is up from about 1,000 plots of land sold for $228,000 in June of last year.
Although the magnitude of sales is much larger this year, many of the plots were never sold last year. Newsweek reported that some of these parcels were previously owned by islands and hotels, in order to keep the real estate in the Metaverse bubble inflated.