Academics warn that metaverse land prices could face a bubble after surging by 300 times in two years.
The Bank of Thailand’s Puey Ungphakorn Institution for Economic Research collaborated with Chulalongkorn University on a paper titled “Is Metaverse Land a Good Investment? It Depends on Your Unit of Account”.
The two institutes held a discussion about the paper on Wednesday.
The paper was co-authored by Kanis Saengchote, associate professor in the department of banking and finance, Chulalongkorn Business School, and Voraprapa Nakavachara, assistant to the president for global engagement at Chulalongkorn University.
The paper surveyed land prices under an all-sales index in the Sandbox, which is a metaverse based on blockchain technology, from December 2019 to January 2022.
The survey found virtual land prices in the Sandbox increased by 300 times.
In addition,…
