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 (VR) future are pushing investors to bet big on digital real estate.This week, New York-based company Republic Realm announced it had spent a record-breaking US$4.3 million on digital land through The Sandbox, one of several “virtual world” websites where people can socialise, play games and even attend concerts.That came hot on the heels of a US$2.4-million land purchase in…

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