Technavio, a global market research company, did a study that says the metaverse real estate industry will grow by $5.37 billion between 2021 and 2026, at a compound annual growth rate of 61.74 percent. This is because mixed reality and cryptocurrency are becoming more popular.
During the period in question, the United States and Canada will be two of the most important markets in North America, which will account for 41% of market growth.
According to the survey, the next big thing will be buying more virtual land. This is because most big businesses would use the land they bought for advertising and other marketing purposes.
Uncertainty is one of the problems with developing virtual real estate. The prices of virtual land don’t follow trends like they do in the real world. Instead, they are mostly based on what buyers think, which makes the market unstable and slow.
According to the research, Covid-19’s global lockdown has caused more people to want VR/AR systems, which has helped the metaverse real estate industry.
based on the analysis, big companies like Nike, Facebook, and Microsoft will all move into the virtual world. This will cause the market share of metaverse real estate to grow by a huge amount.
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