# Roommates, the real estate market is one of the most lucrative ways to earn your coins – but there is a new twist in real estate buying that involves the metaverse and companies spend millions to be a part of it. According to recent reports, buying virtual land in the metaverse is the latest craze in the real estate world, and some of the world’s most popular technology companies are proving that no cost is too high to invest in the next big thing. the world.
Last month, when Mark Zuckerberg officially announced that Facebook would change its name to Meta, interest in what the metaverse is and its potential for making money began to grow. In case you need a quick refresh, metaverse is an online world that embraces the internet in immersive, four-dimensional experiences – and will also be big business. @NYTimes reports to prepare for the earth boom in the metaverse that is just around the corner as many companies buy virtual real estate in the form of concert halls, shopping malls and other properties. There are many digital realms in the metaverse, where each entity acts as a virtual city, where avatars live, work and play and interact in elements such as virtual reality, streaming video, mobile games, avatars and artificial intelligence.
The money used in the virtual world of the metaverse is a cryptocurrency that is powered by a blockchain, which is defined as a digitally distributed public ledger that eliminates the need for a third party, such as a bank. Technologists believe that the metaverse will grow into a fully functioning economy in a few short years. Those who enter the metaverse can buy items such as art, music and even first-class real estate such as NFT, which serve as proof of ownership. Blockchain technology company Tokens.com recently acquired a 50% stake in Metaverse Group, one of the first virtual real estate companies, for about $ 1.7 million. Explaining his decision to invest, Tokens.com co-founder Andrew Kigel said: “Instead of trying to create a universe like Facebook, I said, ‘Why don’t we go and buy the plots of land in these metauniverses, and then can we become landlords?’ “
Similarly, Michael Gord, one of the co-founders of the Metaverse Group, said that the trend in real estate in the metaverse has also gained popularity due to the pandemic:
“As more people participate, this is where you go with friends, where you have experiences like conferences and concerts. It is inevitable that the metaverse will be the number 1 social network in the world. ”
Meanwhile, Tokens.com has struck an even bigger deal for land in Decentraland’s fashion district for approximately $ 2.5 million – Decentraland is the metaverse, equivalent to Silicon Valley. This deal is called the biggest real estate deal in the history of the virtual world.
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