Virtual real estate is emerging as a new investment opportunity during COVID-19
Trend - Real-world real estate might be destabilized due to the COVID-19 pandemic but the popularity of virtual real estate is surging alongside NFTs (non-fungible tokens). In this space, brands, consumers, and investors alike are interested in online assets and concepts of digital property.
Insight - During the COVID-19 pandemic, government-imposed safety measures have necessitated restrictions and even bans on physical activities and events. Because of this, the economy has slowed down, resulting in the loss of jobs and work-from-home pivots. As consumers inevitably spend more time indoors with access to the Internet, they indulge in researching and experimenting with new forms of entertainment, communication, and/or earning a living—whether that is due to boredom or necessity.
Insight - During the COVID-19 pandemic, government-imposed safety measures have necessitated restrictions and even bans on physical activities and events. Because of this, the economy has slowed down, resulting in the loss of jobs and work-from-home pivots. As consumers inevitably spend more time indoors with access to the Internet, they indulge in researching and experimenting with new forms of entertainment, communication, and/or earning a living—whether that is due to boredom or necessity.
Workshop Question - How can your brand utilize virtual land?
Trend Themes
1. Virtual Real Estate - The popularity of virtual real estate is surging alongside NFTs as consumers spend more time indoors and indulge in researching and experimenting with new forms of entertainment, communication, and/or earning a living in the digital environment.
2. NFT Investments - The recent interest in NFTs and digital environments has led to the creation of digital real estate NFT investment funds and user-owned virtual worlds which offer disruptive innovation opportunities for artists to showcase their work and better control their distribution.
3. Second Earth Concepts - IoT has developed to such an extent that it seems as if the digital environment itself is a second Earth and concepts such as Earth 2 offers disruptive innovation opportunities as a metaverse between virtual and physical reality where real-world geolocations on a sectioned map correspond to user-generated digital virtual environments.
Industry Implications
1. Real Estate - Virtual real estate is emerging as a new investment opportunity during COVID-19, thanks to its potential to destabilize traditional real-world real estate markets, and the surging popularity of NFTs.
2. Financial Technology - NFT investment funds offer a disruptive innovation opportunity for fintech startups and companies to explore blockchain-powered investment options in digital real estate markets.
3. Art and Entertainment - User-owned virtual worlds, digital real estate markets and NFTs have created a new canvas for artists and entertainment professionals to explore and showcase their work, while better controlling their distribution, creating disruptive innovation opportunities for the art and entertainment industries.
4 Featured, 12 Examples:
61,692 Total Clicks
Date Range:
Apr 21 — Apr 21
Trending:
Warm
Consumer Insight Topics:
