They bought property in the metaverse. Then it collapsed
By Steffi Cao
Published on April 17, 2026.
Chris Adamo and his friends used a virtual real estate broker to buy 23 parcels of property in a metaverse called The Sandbox, which they saw as the future of tech and digital investment. The group spent around $200,000 on these parcels, which at one point doubled their value tenfold. However, many companies have struggled in recent years, with many promising financial promises and low user counts. Mark Zuckerberg, who invested heavily in the metaverse, called it the successor to the mobile internet and invested $80 billion in the effort, named Facebook as Meta. Adamo's group tried to sell the property but there was no one else to buy them. The money they invested in the Metaverse has been written off as a sunk cost, with Adamo accepting that the investment won't yield returns soon.
Read Original Article