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FEATURE Crypto Weekly
2022 Predicted to be a Record year for Metaverse Real Estate Yaёl Bizouati-Kennedy
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espite the general trend of cryptos going down in this new year, there is still a piece of the market that continues to thrive. Metaverse virtual real estate is still growing at a fast pace, both in terms of interest and prices, despite the impressive traction it achieved in 2021. Despite the calamity in traditional and crypto markets, two areas have seen actual adoption: NFTs and the Metaverse, said Hayden Hugues, CEO of crypto social trading platform Alpha Impact. "What started as a small group of niche enthusiasts has now grown into a full-blown ecosystem. Currently, Sandbox and Decentraland are major hubs of transactions, and the Enjin team
January 2022 | Volume 12
is incubating and investing heavily in projects in the metaverse. The concept of intrinsic value from the real world carries over into metaverse land." Indeed, the market opportunity for bringing any number of metaverses to life may be worth more than $1 trillion in annual revenue, according to a Grayscale report. The asset management firm estimates that revenue from virtual gaming worlds could grow to $400 billion in 2025, from $180 billion in 2020. Data from DappRadar shows that The Sandbox - one of these virtual worlds - generated nearly $12 million in land NFT trading volume, becoming the top-
grossing virtual world based on land NFT sales Decentraland generated $6.2 million. According to a statement, Tokens.com recently bought 116 parcels of land in Decentraland's Fashion District for $2.4 million to host "the first of its kind virtual fashion event" on March 24th to 27th, which is "expected to draw some of the biggest fashion brands in the world." The fashion show will feature avatar models, catwalks, pop-up shops, after parties, and immersive experiences, connecting digital to physical fashion. "The event aims to strengthen the fashion ecosystem in the metaverse,
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