Unreal Estate Is Booming; Metaverse Adds Value To Virtual Worlds

CBS San Francisco

July 14, 2022

One of the hottest real estate markets is not in the Bay Area. In fact, it's not even in our world. It's at your fingertips in an alternate reality known as the metaverse.

"It's something we've been seeing more and more from all sorts of video game companies already and now it's starting to push into the mainstream," explained CNET News senior editor Ian Scherr.

Virtual real estate exists in 3-D spaces generated online. The term metaverse is loosely used but many believe that, at this point, it refers to multiple platforms that contain unique digital worlds. Some call it the next iteration of the Internet aka Web3.

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