The metaverse is in crisis. The real estate market is being mistreated. Currently, the purchase of virtual land seems pointless. Although past real estate transactions have worked well, the market today is in a delicate position. Metaverse real estate platforms would struggle to get by.
This market decline is warning investors. The real estate downfall of the metaverse is, however, inevitable. more than one real estate business present on the web3 sees it. This collapse is explained by the general state of the crypto sphere. The disappointment can be read in the words of all investors.
This period marks a dark phase for the metaverse and all related markets.
Real estate on the web3 is collapsing
The real estate sector is collapsing on the web3. However, several real estate projects have sprung up in the metaverse. Virtual real estate agencies have tested the waters, hoping to reach a more interesting audience. For others, it was the best way to make virtual profitable. None of the industry players considered the decline real estate in the metaverse.
The fact is that the real estate market seemed to work well in the virtual world. The facilities introduced by the reform have attracted both applicants and suppliers. Unfortunately, the fall in cryptocurrencies and NFTs hasn’t spared real estate in the metaverse.
Investors in bad shape
Investors can no longer resell their virtual land in the metaverse. Prices are at their lowest and the candidates themselves are dwindling in numbers. By the numbers, the price of a parcel of land in the metaverse has seen a drop of more than 60%. The losses suffered by investors are evident.
Next, analysts collected the industry’s top 6 metaverse platforms. It seems that market volume fell by 90% for these platforms. These declines do not bode well for the market. Investors are in really bad shape. As for suppliers, they are obliged to review their priorities.
Dark time for the Metaverse
The Metaverse is going through a dark period. The market is in decline whether it is NFT, blockchain games or real estate. The fall of cryptocurrencies obviously contributed to this fall of the metaverse. Despite this, web3 users believe this is just a dark period. Better days are always to be expected.
In fact, even if the web3 is no longer classified among the sectors they recruit, it is still present. Furthermore, environmental scholars continue to boost the sector by certainly limiting job opportunities, but by continuing to hire technicians and engineers.
To overcome this dark period, the metaverse is currently recruiting blockchain engineers, web3 researchers, ecosystem developers and metaverse planners.
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