III. Industry Analysis
With the skyrocketing popularity of the metaverse and the numerous applications it has for society, many people are interested in owning a piece of it for themselves. This has created a competitive and profitable virtual real estate market that is showing no signs of slowing down. Buying and selling virtual property can be chaotic, so virtual real estate businesses can provide services that smooth out the process for potential buyers. Therefore, virtual real estate services are in high demand and will continue to be an essential industry of the metaverse.
According to Vantage Market Research, the Metaverse Real Estate Market was valued at USD 821.9 million last year and is projected to grow at a compound annual growth rate of 39.10% over the next 10 years. Very few industries experience this same amount of growth. Therefore, this shows that not only is virtual real estate necessary for this next step for humanity but it is extremely profitable as well.
