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The Metaverse Market
The Metaverse virtual estate is now an established business model. In 2021, the average price for the smallest plot of land available to buy on Decentraland or the Sandbox – two of the biggest Metaverse platforms – was under $1,000. Today the same plots sell for around $13,000.
Also, the Metaverse/gaming DeFi ecosystem is actively shaking up traditional boundaries between classical finance and DeFi. For example, crypto tokens associated with Axie, a Pokémon-style game with P2E features, is used alongside fiat currency in certain stores in the Philippines.
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