Buying virtual real estate12/12/2023 ![]() ![]() Investors are hoping the same thing will happen in the metaverse and that there will be a property boom as it develops. As the country developed, their property values shot up and so did their bank account balances/egos. Many of the richest men on this island are property developers who made it big by snapping up real estate when Singapore was still an inexpensive developing country. Why are investors snapping up metaverse properties? If they succeed, we could find ourselves browsing businesses’ spaces with VR goggles on and experiencing in 3D the kids of ex-classmates whom we haven’t seen in 10 years… the horror. For instance, the universes of some video games like Fortnite and Minecraft are considered quasi- or full-fledged metaverses.įacebook’s rebranding as Meta is a gamble that they can create their own metaverse and that mainstream society will be ready to adopt it within this decade. In practice, there isn’t one specific metaverse but many. Today, the term metaverse is used to refer to virtual worlds which can be explored and inhabited using VR or augmented reality technology. ![]() People could socialise, shop, gain social status in the metaverse and so on. First coined in science fiction novel Snow Crash by scifi writer Neal Stephenson, the metaverse was originally conceived as a virtual world in which human beings used avatars to interact with each other. ![]()
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