Why Consultants Are Literally Rushing Metaverse Real Estate And Everything You Need To Know

It is very true that consultants are literally rushing metaverse real estate. What could be the reason for this influx and what do you need to know?

metaverse real estate

The Metaverse Real Estate Rush

The metaverse real estate sector is seeing an influx of a lot of people ranging from spectators to fans and now consultants. This was reported by the metaverse owned by Animoca, The Sandbox which said they were approached by consultants: in this case, PwC Hong Kong, a consultancy business.

The Sandbox team announced on Thursday that a business consultant has purchased some LAND, a non-fungible token that represents virtual real estate (NFT). PwC Hong Kong refused to say which plot it purchased or how much it paid for it. According to blockchain data, LAND has been sold for around $10,000 per unit. PwC’s strategy is part experiment, part foresight as companies ranging from Nike to Facebook join what some regard as the inevitable next step of becoming Very Online. In a statement, PwC Hong Kong Partner William Gee said, “We will leverage our expertise to advise customers that seek to embrace the metaverse on the full range of issues presented by this rising global digital phenomena.”

Everything You Need To Know

Despite the buzz, the metaverses, in general, remain extremely small in terms of user numbers. The Sandbox has only received 4,500 users (or unique wallet addresses engaging with the decentralized application, or dapp) in the last 30 days, according to analytics site DappRadar. That hasn’t stopped digital prospectors from setting up business in anticipation of the horde’s arrival. In a statement, The Sandbox COO Sebastien Borget declared, “The metaverse is open for business.” “We are delighted to invite PwC Hong Kong to The Sandbox to learn more about how it develops new immersive experiences and ways for brands to connect with customers.” Since late October, when Facebook rebranded to Meta, LAND sales have been steadily increasing.

Read more: 5 Top Metaverse Coins To Invest In, In 2022

SAND, The Sandbox’s native token, has similarly ridden the tide of public interest, rising from approximately 80 cents before Facebook’s announcement to an all-time high of $8.40 on Nov. 25. According to Messari statistics, SAND is trading at $5.21 at the time of writing, with the PwC news contributing to a price increase.

metaverse real estate

Final Thoughts

The entry of more firms into the metaverse space is signaling that the metaverse is a worthy venture and should not be overlooked or looked down on by anybody. These firms really do know how to invest and we should take their actions for it.