REITs of the future It's a whole other world out there in cryptoland.
>>>Beyond being virtual landlords and developers, Metaverse Property also says it is creating what it’s calling the first “metaverse real estate investment trust (REIT)”, which will trade through a non-fungible token (NFT) that is backed by the company’s virtual land portfolio....On platforms like Decentraland, which has seen more than $50 million in virtual sales for goods like real estate, clothes, accessories, usernames and avatars, an outlying parcel in an area less travelled could run a user around $5,000 MANA, or roughly over $4,600 Canadian dollars as of mid-October. These prices can jump up quickly in larger built-out properties in popular zones, with the highest-selling virtual plot of land recorded on the platform being a $1.3 million MANA property in June, equal to about US$900,000 at the time.“..."Really, it’s the foot traffic,” Kiguel said. “So, you might want to build a house to invite friends over, you can decorate the walls with your NFTs, it’s a way of socializing…. COVID drove a lot of this: when the world shut down, people turned to their computers as a means of interacting with people, and so the foot traffic in the metaverse continues to grow at a very high rate.”
https://financialpost.com/fp-finance/cryptocurrency/why-people-are-paying-real-money-for-virtual-real-estate-in-the-metaverse