Blockchain-based metaverses are suffering their own housing crisis, with virtual land values plummeting due to fading user interest, after a speculative boom left digital environments empty of things for players to do.
Two blockchain-based metaverses, Decentraland and Sandbox, emerged as much-hyped destinations for people around the world eager to connect and develop businesses and games online in 2021 and in early 2022, but early property prospectors have since been hit by a 90 per cent fall in prices over the past 14 months.
Loading...
Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
