Home CryptocurrencyBitcoin Metaverse’s Best Real Estate Investments Suffer Huge Losses: The Report

Metaverse’s Best Real Estate Investments Suffer Huge Losses: The Report

by SuperiorInvest

Virtual land prices on some of the top metas have fallen significantly from their peak prices in 2022, with most depreciating around 90%.

AND studies published by CoinGecko shows that popular metaverse properties such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels all weakened during the January 1, 2022 to May 24, 2023 period.

Metaverse land price comparison. Source: CoinGecko

As mentioned above, the most expensive property at the time, Otherdeeds by Otherside, which once sold properties for 5 Ether (ETH), is currently selling for 1.09 ETH, down 78.2%. The Sandbox and Decentraland properties were also reduced by 89.76% and 87.88% respectively.

CoinGecko noted that the cheapest plots of land in the metaverse can be found in Voxels, which sold for 0.16 ETH as of May 24. Virtual real estate Voxels faced a 93.8% loss, as did Somnium. Despite the massive price drop, Voxels remains optimistic about the comeback. His official Twitter account established:

“We are number 5! We are number 5! (It hurts me too, but the winters will be winters, the only thing left to do is build.)

Tech giants and large economies keep testing ultimate metaversion potential through various investments and initiatives.

Related: A Chinese city has released a policy proposal for the development of the metaverse industry

iPhone maker Apple will soon release a mixed reality headset that could reignite global interest in the metaverse.

In an interview with Cointelegraph, eToro market analyst Josh Gilbert said the new earphones could set the markets on fire, given Apple’s proven track record of delivering high-quality, market-changing products. Gilbert stated:

“When Apple does it, they usually do it right.”

Apple’s new headset is set to launch on June 5, according to a report from Apple product seer Mark Gurhman.

Magazine: Home loans using cryptocurrencies as collateral: Do the risks outweigh the rewards?

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