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March 24, 2022
Investors are paying millions for Metaverse real estate.
According to a report from Brand Essence Market Research, the Metaverse real estate market could grow at a compound annual rate of 31% through 2028.
So far, “Prices have gone up 400% to 500% in the last few months,” says Andrew Kiguel, CEO of Tokens.com, as quoted by CNBC. In fact, someone just paid about $450,000 to be a neighbor to Snoop Dogg, who is reportedly building a virtual mansion.
So, how can the average investor trade the news?
There are a few ways, including:
Defiance Digital Revolution ETF (NFTZ)
One of the best ways to diversify in a growing market, at less cost is with an ETF, such as the Defiance Digital Revolution ETF (NFTZ).
While its chart isn’t anything to write home about just yet, give it time. With an expense ratio of 0.46%, investors can own some of the top crypto and NFT companies on market with this ETF, including eBay Inc., DraftKings Inc., Coinbase Global, Hut 8 Mining Corp., Canaan Inc, Cloudflare Inc., HIVE Blockchain Technologies, Block Inc., and Funko Inc.
Matterport Inc. (MTTR)
MTTR is another great way to trade the market.
Multi-billion-dollar companies are racing for a piece of the virtual world. Celebrities are even buying Metaverse real estate, including Paris Hilton and Snoop Dogg. Nike just filed for new trademarks to design and sell virtual sneakers in the Metaverse. CVS Corp. wants to sell virtual goods. Walmart just filed for new trademarks to sell virtual goods in the Metaverse, too.
Better, analysts at Emergen Research say the Metaverse could be worth about $829 billion by 2028. That could be substantial news for companies, like Matterport Inc., which digitizes parts of the real world to create “digital twins,” which can be used in the Metaverse.
The Dow is up 164 points to 34,414
The S&P 500 is up about 28 points to 4,475.50
The NASDAQ is up about 112 points to 14,559
Gold prices are up $1.34 to $1,947.40
Bitcoin is up 2.3% to $43,013.63
Oil prices are down slightly to $114.80
The VIX is up slightly to 23.23
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