Metaverse Group will buy more than $ 10M in digital real estate

If you still do not understand the concept of buying “land” in the so-called metaverse, you are not alone – the idea is not close to the size. But that does not mean it has not grown in popularity at the time of the outbreak, with some speculating that it could be a $ 1 trillion business. One of the key players in the industry is Team Metaverse, which has quietly become the main owner of the virtual block. Andrew Kiguel, CEO of the parent company,, said he has invested more than $ 10 million in digital real estate.

For the company, it was the first investment in the media – and in the human eye. Kiguel said, “If you go back to 15 years and when you were searching Facebook, Instagram, you would find advertising,” Kiguel said. “If you can go back to 10, 15, 20 years and go back to the place of social media platforms when they were young, and you can do whatever you want with that place in the future, that would be worth it. ”

The metaverse, in theory, would be an entire digital world where people could be influenced by avatars, when connected to their units via AR glasses and VR headsets. But for now, these are just nascent, personal spaces with little connection to one another.

That hasn’t stopped the Metaverse from gaining access to multiple virtual locations, such as Somnium Space and Sandbox, where rapper Snoop Dogg’s own metaverse life. His important documents include places in Decentraland, the largest and most popular metaverse – and the most complete for capturing real events.

Decentraland is made up of around 90,000 parcels, and only half of the companies are owned and developed. Kiguel declined to disclose the total amount of money the company has invested, but noted that in November it would be heavily owed by Decentraland for $ 2.43 million worth of cryptocurrencies. He also purchased the 34-Lost Music District in Decentraland.

It is especially beneficial for existing companies such as Forever 21, consumers of their own, who want to get into the metaverse but do not have their own experts. law at home.

“We have a team of programmers and software engineers so when a customer comes in and says ‘this is my vision’ we can design it for them, we can design what they want and bring it to digital life in the metaverse. ” says Kigel.

Metaverse Group: Risk

Former experts told Insider that metaverse assets are nothing more than “risky” crypto assets, unable to appreciate the value of the system. In fact, Kiguel said that housing, or ordinary investors will “house” in the transition, only new.

For publishers, however, it’s a different story. If the publishers’ demand for metaverse land increases, whoever owns it will be in the right place.

“If I went to Decentraland now, it would be more of a ghost town than a casino,” Kiguel said. “But when something happens or people hold things,” it’s a different story.

Also read: What is the metaverse holding for the future of e-commerce?

Source: Business Insider

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