Global News and Digital Insights
for the Consumer Goods Industry

Brands are purchasing Real estate in the metaverse

ConsumerGeniuses

ConsumerGeniuses

Digital innovation is transforming traditional lifestyles and real estate is no exception. Brands are looking for land in metaverse to connect with global customers instead of launching brick and mortar stores on earth. In metaverse, companies can purchase a 1×1 size plot for approximately $11,000, while 65 parcels of land would cost about $1.4 million. Philipp Plein, a Swiss fashion company, has recently bought a plot for $1.4 million in Decentraland, a virtual space where brands can deal in real estate via cryptocurrency. Plus, Decentraland allows companies to interact with 800,000 registered users. To reach a global and vast number of consumers, brands are adopting metaverse platforms to advance their brand value and efficiently engage with audiences.

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