Chainalysys: The value of virtual land has increased by 879% over the past 18 months

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Chainalysys agency has published a report on the market research Metaverse. It turns out that between September 2019 and March 2022, the value of plots in virtual “sandboxes” increased in price by 879%.

“Blockchain-based virtual real estate promises benefits in both the short and long term. At the moment, the main use of such plots is to hold exclusive events and organize “clubs” for communities,” emphasized Chainalysys economist Ethan McMahon.

Unexpectedly, such sites have the characteristics of a speculative asset. The agency investigated 11 major Metaverse projects.

In 10 cases, users kept their virtual lands for only a quarter of the total time of the collection or even less. At the same time in 6 cases out of 11 virtual properties were resold almost immediately.

Chainalysys believes that this trend will develop. Well, the pace of this process depends on the spread of AR/VR technologies and the introduction of new solutions.

Given the fact that major companies in this area are already working on common standards for the future metaverse, investing in virtual real estate seems to be a smart and winning move.

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Antoine Durand

Written by Antoine Durand

Antoine Durand is a senior editor for eDieta in the NFT section and is based in New York.

Antoine is a creative and inquisitive person. His parents named him after the famous French writer and poet. Not surprisingly, it has become his pen name on the Internet since childhood.

Since Antoine is creative, he is very interested in digital art. He is an artist. And over time, he has retrained as a digital artist.

When the NFTs came along, he was very much attracted to this subject and his interest is still there today.

Antoine is an author in the NFT section.

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