Virtual Realestate

Whenever one searches for PartyNite, they can find the first page filled with articles or news on how Punjabi pop star Daler Mehndi bought virtual real estate on the Indian metaverse platform called PartyNite and named it Balle Balle Land.

An announcement by Daler Mehndi regarding buying virtual land created buzz among investors as well as industry executives.

But let’s get past it.

Is Real estate in Metaverse all set to rise or explode?

Many investors believe that there surely is a growing demand for escapism from reality and real estate in the metaverse perfectly fits in.

Technology can always play a vital role in smoothing the overall transaction cycle and keeping the concerns of customers in the centre. It can never replace the very fundamental idea of home.

Bharti Airtel on 14th June, 2022 unveiling India's first multiplex on the Partynite Metaverse platform speaks volumes to the future of metaverse.

As per Brand Essence Research report, the Metaverse Real Estate Market is valued at a CAGR of over 31.2% over the forecast period (2022-2028). And according to prnews wire, Metaverse Real Estate Market Size is expected to grow by USD 5.37 billion, market driven by growing popularity of mixed reality & cryptocurrency.

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