Early investors are buying up property that exists in the digital world. In fact, many are spending millions, if not billions on real estate that only exists in the metaverse. It’s become so popular that metaverse real estate sales topped $500 million in 2021. This year, that number is only expected to double, as noted by CNBC. Even better, according to a report from BrandEsseence Market Research, the metaverse real estate market could grow at a compound annual rate of 31% through 2028. All of which could be beneficial for Tokens.com Corp. (NEO:COIN)(OTCQB:SMURF), which is the only public company that owns metaverse real estate, Coinbase Global Inc. (NASDAQ:COIN), Meta Platforms Inc. (NASDAQ:FB), Galaxy Digital Holdings Ltd. (TSX:GLXY)(OTC:BRPHF), and Microsoft Corp. (NASDAQ:MSFT).
In addition, according to Goldman Sachs, we could be looking at an $8 trillion opportunity. “We look at the digital economy today, which is roughly about 20%, 25% of the global economy … We see the digital economy continuing to grow, and on top of that we see a virtual economy that will grow within and alongside this digital economy,” according to analyst Eric Sheridan, as quoted by Bitcoin.com. “That’s how we came up with the number for various outcomes of anywhere from $2 trillion to $12 trillion, with $8 trillion at the midpoint of all potential outcomes.” Even Bank of America’s Haim Israel said the metaverse could be a “massive, massive opportunity,” as also quoted by Bitcoin.com.
Look at Tokens.com Corp. (NEO:COIN)(OTCQB:SMURF), For Example
Tokens.com Corp., a publicly-traded company that invests in Web3 crypto assets linked to the Metaverse, Decentralized Finance, Non-Fungible Tokens and Play-to-Earn Gaming, is pleased to share that its subsidiary, Metaverse Group, has purchased an additional 49 parcels in Decentraland’s Fashion District.
The additional parcels are contiguous to the record-breaking Fashion Street Estate that Metaverse Group purchased in 2021, and totals to the equivalent of over 132,000 square feet. In total, Metaverse Group owns the physical equivalent of approximately 450,000 square feet in Decentraland’s Fashion District.
“With the increased focus on fashion in the Metaverse, we are strategically increasing our ownership in the Fashion District of Decentraland through land that is contiguous to the land we own that is hosting Decentraland’s Fashion Week,” said Andrew Kiguel, CEO of Tokens.com and Executive Chairman of Metaverse Group. “This purchase makes us the largest owner of contiguous property in the Fashion District. This is in line with our vision of building the marquee shopping area in the Metaverse to attract retailers and visitors.”
Tokens.com’s Fashion Street Estate will be hosting Decentraland’s first ever virtual Fashion Week set to take place on March 24th to 27th. The event will feature catwalks, avatar supermodels, pop-up shops, afterparties and immersive visitor experiences.
“As we grow our portfolio of Metaverse real estate, we can provide better options, and more immersive experiences to support brands seeking to establish a presence,” commented Lorne Sugarman, CEO of Metaverse Group.
Other related developments from around the markets include:
Coinbase Global Inc. announced that it will publish its fourth quarter and full year 2021 shareholder letter, including financial results, on its Investor Relations website at investor.coinbase.com on Thursday, February 24, 2022 at approximately 1:00 p.m. PT. The Company will hold a question and answer session to discuss its financial results at 2:30 p.m. PT that same day. Starting on February 17 at 9:00 a.m. PT, all shareholders will be able to submit and upvote questions for Coinbase management.
Meta Platforms reported financial results for the quarter and full year ended December 31, 2021. “We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow,” said Mark Zuckerberg, Meta founder and CEO. “I’m encouraged by the progress we made this past year in a number of important growth areas like Reels, commerce, and virtual reality, and we’ll continue investing in these and other key priorities in 2022 as we work towards building the metaverse.”
Galaxy Digital Holdings Ltd., a financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sectors, announced that Damien Vanderwilt, Co-President and Head of Global Markets, will participate in a fireside chat at the Canaccord Genuity Digital Assets Virtual Symposium on Tuesday, February 15, 2022 at 1:30 p.m. ET. Damien is expected to provide his thoughts on the latest trends emerging within, and shaping the maturation of, the digital assets sector.
Microsoft Corp. announced the following results for the quarter ended December 31, 2021, as compared to the corresponding period of last fiscal year: Revenue was $51.7 billion and increased 20%, Operating income was $22.2 billion and increased 24%, Net income was $18.8 billion and increased 21%, Diluted earnings per share was $2.48 and increased 22%. “Digital technology is the most malleable resource at the world’s disposal to overcome constraints and reimagine everyday work and life,” said Satya Nadella, chairman and chief executive officer of Microsoft. “As tech as a percentage of global GDP continues to increase, we are innovating and investing across diverse and growing markets, with a common underlying technology stack and an operating model that reinforces a common strategy, culture, and sense of purpose.”
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