Metaverse: why companies are spending millions buying virtual land

  • Theo Tzanidis
  • The Conversation *

A man with virtual reality glasses.

Image source, Getty Images

The idea of ​​spending thousands or even millions of dollars to buy a fictional “land” in a virtual world may sound absurd.

But in recent months we have seen significant investments in virtual land within the metaverse.

The consulting firm Price Waterhouse Coopers is among the last firms in enter the real estate market of The Sandbox, one of the virtual world platforms where people can socialize, play games or go to concerts.

PwC paid an amount that could be considerable, although the final amount was not disclosed.

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