Technavio reports the real estate market in the metaverse will increase to $5B by 2026.
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Technavio reports the real estate market in the metaverse will increase to $5B by 2026.
Real estate companies are beginning to see the potential in the metaverse, where digital real estate can be used to expand advertising, retail, and real estate offerings.
Colliers, an international real estate services company, believes the metaverse will offer endless possibilities to real estate owners.
Colliers wrote in a 2021 study that the metaverse would be a prime location for companies to expand their advertising, real estate, and retail offerings.
By embracing the metaverse, retailers can expand their advertising, real estate, and retail offerings.
Second Life, a virtual world program that has been running since 2003, failed to reach widespread appeal and acceptance, despite offering users the chance to create entire digital personas
and sell digital assets for real-life money.
The same process used for land acquisition and development in the real world can be used in the metaverse, opening up new avenues for business growth and expansion.
A report from BrandEssence Market Research found that the metaverse real estate market is expected to grow at a compound annual rate of 31% a year from 2022 to 2028.
