After a $500-million year, will metaverse real estate skyrocket or plummet?

Metaverse real estate sales surpassed $500 million last year, and nearly half of this amount came after Mark Zuckerberg’s October 2021 rebranding of Facebook to “Meta.” This year, the metaverse real estate market has continued to boom, with sales reaching $85 million in the first month of 2022 alone. Some analysts believe total sales could reach $1 billion this year.

The surge in metaverse real estate values is impressive. But are these values real, or is this a bubble that will soon burst? And should anyone really care? 

Public Utility Research Center Director and Gunter Professor Mark Jamison and Matthew Glavish answer these questions in their blog post from AEI.