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There’s a real estate boom going on in the metaverse! They hit $500 million dollars last year, and are expected to double this year, to one billion. The uptrend took off recently when Facebook announced plans to expand into the metaverse and changed its corporate name to Meta Platforms. CNBC reports that virtual real estate sales have gone up ninefold since Facebook’s announcement in October. (1) Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. According to metaverse data provider, MetaMetric Solutions, investors spent a total of $83 million in January sales alone. Analysts based their 2022 projections on that amount of spending throughout the year. But some analysts are anticipating more growth. Analytics firm BrandEssence Market Research expects the virtual real estate market to grow at a compound annual rate of 31% a year through 2028. What is the Metaverse? But what exactly is the metaverse? And why are investors buying real