Mark Zuckerberg may feel that Metaverse represents the beginning of the future, but many others believe that the future has already begun. Neal Stephenson, a science fiction novelist, created the word ‘metaverse’ in his novel Snow Crash. Stephenson released a novel about a protagonist who travels through the virtual world in 1994. In early 2003, millions of individuals were spotted working, playing, and socializing in the Metaverse in Second Life – an online media platform that allows people to create their avatar and explore, socialize, and trade. Although the game falls short of Metaverse’s objective, the concept of individuals interacting online is not new. Adoption of Digital Real Estate Decentraland is becoming increasingly popular among users in recent years. It is a well-known modern metaverse that encourages a global network of users to purchase and sell real estate. The Metaverse has already infiltrated the world of real estate. Platforms like Somnium Space, the Sandbox, and Decentraland, have begun to sell, purchase, invest, and trade real estate. Founded in 2015, the Decentraland Foundation and the project’s initial coin offering (ICO) in 2017 raised $26 million. Although Decentraland is wide and offers several prospects, the platform has begun to draw attention to the rapidly increasing digital real estate market. Decentraland consists of a “decentralized ledger for LAND ownership.” Media sources reported that Meta...
