billions keep raining for virtual lands

While Meta is having a bad time on the Stock Exchange amid questions surrounding Mark Zuckerberg’s “all Metavers” strategy, the purchase of virtual land continues to appeal. In the last 12 months, more than 2 billion dollars have been invested in virtual worlds according to the firm DappRadar, part of which in the Metaverse of Meta, but not only.

We can notably cite Voxels, a virtual world built on the Ethereum blockchain, Sandbox, Decentraland or even Roblox – which are just a few names among the dozens of virtual worlds that attract investment. In fact, more than the metaverse of Meta, it is these alternative virtual worlds (which are not necessarily all based on VR) that attract the greatest investment.

Invest in Metaverse, why not…?

Among the investors, there are many simple Internet users, artists and creators, capable of spending a few hundred euros or even thousands – or millions of euros. BBC quotes in particular the British artist Angie Thompson who bought land in Voxels to build two art galleries used to exhibit her creations. Digital art that visitors can buy with cryptocurrencies.

But these worlds are also very attractive to brands that invest much higher sums, while betting on their potential, more than their current relatively relative appeal. In all over the period, $22 million was spent in Voxels alone. Also with big names like Samsung, UPS, or even the auction house Sotheby’s. But also Adidas, Atari, Ubisoft, Binance, Warner Music or Gucci.

Meta does not publish the Metaverse that attracts the most

With the crypto meltdown, the price of these plots has hit an all-time low, but many private players just don’t want to risk missing out, just betting that the guesswork will turn around with evolution. of these worlds. We note in passing that if Meta seems to want to embody “The” Metavers, the sector is actually made of a mosaic of separate worlds.

By investing in multiple worlds at once, brands are trying to secure their virtual future – in the expectation that these worlds can communicate with each other, or that one of them will end up dominating the others. Amber Jae Slooten, of digital fashion house The Manufacturer, explains the value of this strategy in these terms:

“It is certain that there will ultimately be a mass market, because if you look at the younger generation, they are already very much into video games. For them, there is no longer any distinction between the virtual and the real. But this future remains to be built”she explains.

The whole question now is to know the role that the Metavers who most wish to exist will really play in this, and to supplant all the others, namely that of Meta… Can the firm really impose its vision of the Metavers? Everything remains to be demonstrated.

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