'Like buying on 5th Avenue back in the 1800s': Executives behind the huge metaverse land deals say swelling valuations reflect big plans for the virtual space
markets.businessinsider.comThe Sandbox
The land rush in the metaverse is turning heads as deals carry price tags of $2 million and more — and executives at two prominent digital-land development firms say valuations reflect big plans for people worldwide to shop, play and work in the virtual world.
The priciest deal so far is the $4.3 million purchase of land in The Sandbox metaverse last month by Republic Realm from videogame publisher Atari SA.
«We bought a city, or the equivalent [of one],» Janine Yorio, co-founder and CEO of Republic Realm, told Insider this week. She said the company bought a 24 x 24 parcel, with each parcel the equivalent of 100 meters. «We paid so much for it because we want to do something big, something very immersive.»
Yorio, who worked as a
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