We all heard about the guy who spent millions on make believe land in a blockchain video game called Axie Infinity. Who he will eventually sell that to and why that person would even want it, is anybody’s guess. The profititability of that purchase all depends on how popular Axie is, going forward. And whether or not that land can be monetized.
But here is the thing – there might be something to this virtual real estate market. It’s new. It’s booming. The language is still being developed for it, in order to convince investors and not just coders glued to a computer, that this is not like trading Pokemon cards.
“It’s not crazy,” says Batis Samadian, founder of SPACE, a metaverse startup. They raised $7 million in early round founding in December.
Virtual “land” is needed to create a map and coordinates for 3D experiences….