This is why New Yorkers are spending hundreds of millions on fake real estate

Is this authentic daily life, or is this just fantasy?

Sales of “real estate” in the so-called metaverse — digital renderings of qualities located on just one of the four key virtual platforms — topped $500 million final 12 months, according to MetaMetric Remedies, and the sector could quickly expand into a trillion-dollar business in the close to long term, in accordance to authorities.

Celebrities like Snoop Dogg, Paris Hilton and Justin Bieber have all bought property in the metaverse of late. And just like in the true planet, they’re attracting star-crazed neighbors, with 1 customer not too long ago shelling out $450,000 in true dollars to have nearly rendered house up coming to Snoop.

A true-lifetime four-bedroom household in Gulfport, Fla., a short while ago bought for $653,163 as a non-fungible token, or NFT, creating it the initially actual physical household to be offered in this way.

The

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