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Metaverse Real Estate Sales To Grow By $5 Billion By 2026

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Metaverse Real Estate Sales To Grow By $5 Billion By 2026

The real estate market in the metaverse is projected to pass $5 billion by 2026. This is the prediction of the latest metaverse report by Technavio, a global market research firm. The report states that the rise will be fueled by the growth of the metaverse into a mixed reality environment, where people can take advantage of these spaces.

Metaverse Real Estate Market to Grow Exponentially

As the metaverse becomes a more living, tangible breathing world, more and more people will be interested in becoming part of its social ecosystem. The real estate market in the metaverse is affected by this popularity. A recent study produced by Technavio, a global market research firm, predicts exponential growth in the value of this market.

The report, which also studies other factors related to this new market, estimates that the value of virtual real estate will grow by $5.36 billion by 2026. This expansion will be fueled by two factors. First, the metaverse will gradually move towards a more mixed reality experience, giving more value to these platforms in which visitors can inhabit, taking annotations and decoding tags for different application-specific purposes.

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The second reason has to do with the popularity of cryptocurrencies, which will make this kind of property more approachable and easy to purchase in order to sell or rent, allowing its owners to obtain a passive income.

Market Challenges and Regional Leaders

However, not all is rosy for the virtual real estate market. It is still an insurgent sector that still has to find its place, as it is very different from the real world real estate market. Every virtual land will have its own price depending on several factors that are different from case to case. The report states:

Virtual land price does not follow the pricing pattern of the physical world. Therefore, the value of digital assets, including metaverse real estate, would basically depend on how the buyers perceive their price, thereby leading to fluctuations.

These fluctuations can negatively impact the investments of companies and users interested in getting into these nascent instruments. Most of this proliferation will come from investors and companies in North America, with the region accounting for 41% of the investments made during the indicated period, also as a result of the high adoption of applications that include metaverse technology.

Another report released last February estimated that metaverse real estate sales would reach $1 billion this year.

What do you think about the predicted growth in the metaverse real estate market? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Decentraland Up For 4th Straight Session As MANA Targets $1.5

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Decentraland Up For 4th Straight Session As MANA Targets $1.5

For the fourth straight session, Decentraland has shown up and has seen a surge of nearly 2%. More so, MANA’s fourth day exhibited a price spike trading above $1.

Metaverse has been picking up steam especially since Facebook was revamped to Meta. Prior to that, Decentraland has always been extremely popular, especially for those who are into the virtual world but have grown tired of child play.

The Popularity Of Decentraland MANA

Basically, Decentraland was geared towards teenagers and adults who are looking to socialize, build, and earn with virtual land. All the virtual lands and assets seen in Decentraland can be bought with the MANA token.

Virtual real estate has also been very in-demand and MANA has been consistently shaping its virtual environment to provide sophisticated and breathtaking experiences for users where they are in complete command of their own virtual worlds.

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Decentraland has become immensely popular and powerful that many giant companies like Samsung, Adidas, and Atari have also bought their virtual real estate properties right on Decentraland.

In addition, Decentraland has also entered partnerships and secured funding from companies like Genesis One Capital, George Burke, Boost VC, Animoca Brand; and the like.

However, despite partnerships and support from many popular brands, MANA still suffered some low blows in the last few months as it dipped by as much as 70% but was able to recuperate by 12% in July.

Decentraland Looking Bullish; Targets $1.5

Looking at the daily chart, there is a good chance that the price boost that MANA is experiencing will go on for the next trading sessions. Moreover, it shows a long-term upward trend. In fact, the Decentraland price target is $1.5 next.

Judging by the Williams Alligator trend, it shows a retrace on the upside which means that MANA will move towards August with a bullish move. However, that analysis may be refuted if the price will decline below $0.84 which signals a bullish standpoint.

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Decentraland is looking bullish since Friday. The token is currently down by 6.31% on its five-day high and higher by 13.87% compared to its five-day low that registered at $0.8460.

Currently, MANA price is sliced in the middle of the support and resistance zone, with resistance found at $0.9997 and the support zone set at $0.9359.

Moreover, Decentraland has been trading on low volumes quite recently which signals that today’s trading volume is much lower than the coin’s average volume seen in the past week.

MANA total market cap at $1.91 billion on the weekend chart | Source: TradingView.com    Featured image from VOI, chart from TradingView.com
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Altcoins

Decentraland [MANA] halted at psychological $1 mark as it sees a short-term range formation

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Decentraland [MANA] halted at psychological $1 mark as it sees a short-term range formation

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

On the lower timeframes, Bitcoin [BTC] has held the $23.5-$23.7k area as support over the past couple of days. Heading into the weekend and potentially low liquidity, BTC bulls could begin to worry that the king might slip back beneath the $23k mark. This could see Decentraland pullback as well. MANA was trading within a range over the past two weeks, and approached the range highs at $1.02. The $1 mark would also likely oppose further gains in the coming days.

MANA- 1-Hour Chart

Source: MANA/USDT on TradingView

The $1 was a psychologically important level. Market participants would likely flip bullish if the $1 was retested as support, and not just for technical reasons. It so happened that the $1 mark also had confluence with a range MANA has traded within since mid-July. This range extended from $0.84 to $1.02, with the mid-range value at $0.93. This level can be expected to serve as support should MANA venture southward.

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If Bitcoin can climb back above the $24.5k mark, it could encourage the Decentraland token to climb sharply as well. The bullish momentum would be witnessed across the altcoin market. To the south, apart from $0.93, there was also a small demand zone at $0.96-$0.95.

Rationale

Source: MANA/USDT on TradingView

The hourly Relative Strength Index (RSI) just barely managed to hold on to the neutral 50 level over the course of the previous day, with a brief dip to the 42 mark. The RSI climbed back above neutral 50 in recent hours to hint at bullish momentum. The A/D line has also risen over the past couple of days.

The boost to the A/D indicator highlighted buying volume in recent days. The price also continued to trade above the EMA ribbon, which suggested that bullish momentum has not died yet.

The Bollinger Band (BB) width indicator has bobbed and weaved in recent weeks. The surges indicated a sudden rise in volatility. Yet, MANA was unable to break above or below the range. If MANA managed to climb past the $1 mark and the BB bandwidth indicator finds a bottom near 0.05 again, a short-term investor might want to explore buying opportunities.

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Conclusion

Despite the bullish momentum and the presence of strong buyers, the $1 mark remained significant resistance. Earlier buys of MANA can take profit at this psychological resistance level. A buying opportunity might arise if bulls flipped this level to support.

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Analysis

Biggest Movers: ATOM Drops For Fourth Straight Session, Hitting 1-Week Low

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Biggest Movers: ATOM Drops For Fourth Straight Session, Hitting 1-Week Low

Cosmos was trading lower for a fourth consecutive session on Monday, as prices approached a one-week low. Decentraland was also trading close to a one-week low on Monday, as the global cryptocurrency market fell by over 3% as of writing.

Cosmos (ATOM)

Cosmos (ATOM) declined for a fourth straight session, as the token moved towards a one-week low.

Following a high of $10.25 during yesterday’s session, ATOM/USD dropped to an intraday low of $9.27 earlier today.

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The move comes as ATOM moved closer to its support point of $9.00, less than a week after nearing a breakout of a resistance at $11.25.

ATOM/USD – Daily Chart

Looking at the chart, recent declines have come as the relative strength index (RSI) dramatically dropped, moving from 67 on Friday to 50 today.

Should the 14-day RSI fall below the 50 level, which is also a support point, this could see ATOM moving below its $9.00 floor.

Overall, prices of the token fell by just 3.62% from the same point last week, despite this extended streak of declines.

Decentraland (MANA)

Like ATOM, decentraland (MANA) was trading close to a one-week low during today’s session.

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The world’s thirty-fourth largest cryptocurrency slipped to an intraday low of $0.9051 earlier today, which is its lowest level since last Thursday, when prices dropped to $0.8797.

This drop in decentraland comes following a failed breakout attempt above resistance of $1.02 on Sunday.

MANA/USD – Daily Chart

Despite the ceiling being held, MANA reached a one-month high, however bears have now pushed the token away from this point.

As of writing, MANA/USD is now trading at $0.9128, which is marginally above a support level of $0.9030.

The 14-day RSI currently sits at a floor of 50, which would need to be broken if bears are to extend this recent downtrend.

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Do you expect decentraland to climb back above $1.00 this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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