Digital Real Estate: What Is It And Who Is Interested?

By TYRONE TOWNSEND Millions of dollars are being spent on digital real estate as investors take their money to the land of the Metaverse.  Since Facebook renamed its company to Meta Platforms in October, plot prices have skyrocketed by 500 percent. Meta and other businesses have a long-term ambition of creating 360-degree immersive worlds that people will access through virtual reality goggles. Users may now access these worlds using a standard computer screen. Real individuals engage in these virtual worlds as cartoon-like characters known as avatars, akin to a real-time multiplayer video game.  Journalists from the Wall Street Journal recently spoke with companies investing in digital real estate to understand the economic model, and why investors are spending so much…