Non-fungible tokens (NFTs) might be attracting investors around the world, but fewer of them are in Canada. Just 5.6 per cent of Canadian internet users own an NFT, ranking the nation 15th among 20 countries, according to a survey Toronto-based Finder.com released in November.
With land in virtual worlds like Decentraland getting bought up, fashion brands are rethinking their approach to setting up shop in the metaverse.
Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of NFTs. The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods.
"Within 24 months, every single large corporation is going to need a presence in the #metaverse in the same way they need a website."
It’s no secret the real estate market is skyrocketing, but the Covid pandemic is creating another little-known land rush. Indeed, some investors are paying millions for plots of land — not in New York or Beverly Hills. In fact, the plots do not physically exist here on Earth.
Metaverse Group will invest up to $1 million in SuperWorld, where users can buy virtual versions of global landmarks. An initial investment of $250,000 will be used to buy land plots on the platform that's digitally mapped the Earth's surface.
CNBC’s Andrea Day joins Shep Smith to report that some investors are paying millions of dollars for plots of land that don’t exist in the real world, but the do in the metaverse.
This past year saw the emergence of many novel and perplexing investing trends, such as the Reddit-driven frenzy around meme stocks and the explosion in non-fungible tokens (NFTs). The latest is no less confounding to those on the outside: real estate in the metaverse.
NFTs (or “non-fungible tokens”) are a special kind of cryptoasset in which each token is unique — as opposed to “fungible” assets like Bitcoin and dollar bills, which are all worth exactly the same amount.
Electronics giant Samsung has opened 837X, a virtual replica of its flagship 837 store, in metaverse platform Decentraland.
Sign up to get Realbotix updates sent to your email.