The plummeting prices of virtual land have sparked debate: is the metaverse real estate bubble bursting? In 2022, platforms like Decentraland and The Sandbox saw land prices crash by 85%, from highs of $37,238 and $35,500 to just $5,163 and $2,800, driven by waning user interest and a crypto bear market. Trading volumes also collapsed, dropping from $1 billion to $157 million. Critics, like Mark Cuban, argue virtual land's value is questionable in an unlimited digital space, while optimists point to McKinsey’s $5 trillion market forecast by 2030, emphasizing long-term potential for brands and immersive experiences. Despite the crash, major corporations continue investing, betting on future adoption. The metaverse’s real estate market remains a high-risk, speculative frontier—promising innovation but shadowed by volatility and uncertainty.