Real estate in the metaverse is booming. Is it really such a crazy idea?

By Theo Tzanidis, Senior Lecturer in Digital Marketing, University of the West of Scotland

The idea of spending thousands or even millions of dollars to buy fictitious “land” in a virtual world sounds, to be frank, absurd.

But in recent months, we’ve seen significant investments in virtual land within the metaverse. PwC is among the latest to dive in, having purchased real estate in The Sandbox, a virtual gaming world, for an undisclosed amount.

If other reported sales are anything to go by, it would have been a handsome sum. One person recently…

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