Metaverse Land Still Attracts Some People After Slowdown – Bloomberg
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Falling prices of digital assets have dampened prices for virtual land, but some people still continue to buy.
Attendees wear virtual reality headsets at Metaverse Expo Japan in Chiba.
For a while, there was a real buzz around owning land in the metaverse. As one theory went, Millennials and Gen Z’ers who’d given up on being able to afford a physical property would splurge on a virtual one instead. Well, it’s not quite turning out that way.
Despite the hype – and investments by everyone from Snoop Dogg to the Bajan government – owning property in the metaverse so far hasn’t turned out to be a winning investment. Bloomberg reporter Carly Wanna joins the show to discuss why some are still betting on virtual property despite falling prices and declining user activity.
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