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Rachel Welch

24 October 2022 187 Read Metaverse

How Much Does Land in the Metaverse Cost?

There is no clear answer to the question of how much land in the metaverse costs. The largest platform for digital real estate is The Sandbox, with nearly 269,000 parcels and a US$460 million sales volume. This platform controls 62% of the total amount of land for sale in the top four metaverses. Second place goes to Decentraland, which has a market cap of US$6.5 billion. In third place is Cryptovoxels, with US$33 million, and fourth place goes to Somnium Space, with US$14 million.

However, prices in the metaverse have increased dramatically in recent months. For instance, in Decentraland, prices have increased by 400% to 500% in just a few months. Meanwhile, Janine Yorio's virtual real estate company recently spent $4.3 million on land in Sandbox. These prices are indicative of the increasing importance of the digital world to many people. Some virtual private islands are selling for $300,000 and up.