Technology

'Metaverse' hype fuels booming digital property market

'Metaverse' hype fuels booming digital property market

The idea of spending millions on non-existent land may sound ludicrous -- but feverish predictions of a virtual reality future are pushing investors to bet big on digital real estate. Last week, New York-based company Republic Realm announced it had spent a record-breaking $4.3 million on digital land through The Sandbox, one of several "virtual world" websites where people can socialize, play games and even attend concerts.

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