The Nonsense of Million-Dollar Digital Real Estate
With an infinite supply of digital land across a number of virtual worlds, you would expect low prices, but that is not what is happening
Published in
Mar 4, 2022
Digital real estate is the hottest thing in town now. Last year, the sales of digital land topped $500 million on the fourth biggest platforms, and there were multiple million-dollar digital real estate deals.
With an infinite supply of digital land across an increasing number of virtual worlds, you would expect low prices, but that is not what is happening. Prices are at an all-time high.
Despite record-breaking transactions, buying digital real estate for millions of dollars does not make sense to me when there is infinite digital space. It will be a matter of time before prices will come crashing down.
