PHOTO: Snoop Dogg in the Metaverse. HIP HOP DX
Bricks and mortar ain’t what it used to be. At least, that’s the impression we got upon learning someone paid a whopping $630,000 for a digital home in the Metaverse next to Snoop Dogg’s computerised pad.
Yep, you read right – a person with real money shelled out more than half a million dollars for something that doesn’t exist without servers, an internet connection or pixels on a screen.
How has this happened? And what could motivate someone to drop so much cash on something that, ostensibly at least, isn’t real?
Well, if you’ve no idea what things like non-fungible tokens (NFTs) are, then the concept of buying a property as a non-fungible asset in a digital universe may never be comprehensible.
But, absurd or not, there are tens of thousands of people spending literally millions of dollars to secure their digital digs in the online world.
According to MSNBC, real estate sales in the Metaverse exceeded $700 million in 2021, and certain experts predict that number could double in 2022.
And, as shocking as that may sound, the potential long-term upside of dumping cash into digital properties on the Metaverse could be an exceedingly lucrative one.
READ MORE VIA DOMAIN
https://www.instagram.com/p/CZgBx0vJgTK/?utm_source=ig_web_copy_link
