THE METAVERSE REAL ESTATE BOOM TURNS INTO A BUST
Sales volumes and average prices for virtual land have plunged this year, part of a broader slide in crypto and non-fungible token prices. Investors who bought at the peak are now sitting on land that has tumbled in value. Meanwhile the real-world economic downturn could weigh on brands’ appetite for spending on building out their metaverse presence in the metaverse.
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