‘Metaverse’ hype fuels booming digital property market

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Relaxnews

The idea of spending millions on non-existent land may sound ludicrous — but feverish predictions of a virtual reality future are pushing investors to bet big on digital real estate. This week, New York-based company Republic Realm announced it had spent a record-breaking $4.3 million on digital land through The Sandbox, one of several “virtual World” websites where people can socialise, play games and even attend concerts. That came hot on the heels of a $2.4-million land purchase in late November on a rival platform, Decentraland, by Canadian crypto company Tokens.com. And days before that,…

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