Metaverse real estate prices are booming. This is why

Imagine you live in a time before the internet. When we all had to work in offices, go to shops to buy things, when TV couldn't be streamed on demand and when most monetary transactions were made using notes and coins. Now imagine someone coming up to you and telling you how something that didn't even exist was going to make all those things seem like ancient history. You'd have found the idea fantastical, laughable even – exactly the way you might feel about the metaverse and the fact that there's a real estate boom going on there right now. Prices have risen by as much as 500% since Facebook changed the name of its holding company to Meta in October 2021, with people paying millions of dollars to buy plots of pixellated land in this virtual world, even though it doesn't fully exist yet.