The market can seem a little dismal these days , and even the metaverse is feeling it with token prices dropping, dragging down land values. But that doesn't mean the metaverse is done for. Oh, no. Right now is a great time to get a good long-term value for your dollar in the metaverse.

Call me an extreme optimist, but despite crypto's stumble, I'm still bullish on metaverse real estate. It's a unique sort of asset class, and one that, while definitely feeling the pressure the rest of the investment world is under, seems to have enough going for it to weather the storm.

Here's why I'm still bullish on the metaverse.

A person sits at a laptop, the word metaverse is on the screen and a planet hovers just above it.

Image source: Getty Images.

1. Interest is still strong

As more people hear about the metaverse and what kinds of things can be done with it, the interest in new platforms grows. Decentraland (MANA -2.67%) has continued to trade like nothing is happening, although prices are slightly deflated. $1.5 million in land, in 234 transactions, changed hands  in just the seven days ending May 13, 2022.  

Otherside (APE -2.67%), the newest metaverse platform offering virtual real estate, blew the doors off with its massive entry into the space. In the seven days ending May 13, 2022, it moved $85.3 million in land transactions, with 4,733 sales. That may seem like a lot, but it's only a fraction of the total trading volume of $1.028 billion since land sales opened on April 30, 2022.  

2. Metaverse real estate gives cryptos another purpose

I have a pretty strict but simple rule when it comes to buying crypto currencies: They must have utility. With the metaverse, there are now even more uses for cryptos, from transacting virtual land deals to buying swag for avatars. With the interest in crypto currencies still high, it's important that people have something to do with the currencies they're holding -- holding alone doesn't really create any more demand, you know?

But when you have a solid application for your cryptos, you suddenly have a circular economy. You take your crypto currencies and you spend in the metaverse, then you sell something in the metaverse and you get crypto back out. Around and around it goes, creating purpose for the currency of the worlds, as well as additional utility for the objects within the worlds. The increased utility can lead to more demand and bigger investments from both crypto holders and metaverse land owners as these economies grow.

3. Big brands are putting big money into these worlds

The number of big brands that are entering the metaverse and other related spaces right now is staggering. Some, like Sony, Fidelity, and Honda's Acura, have created large, semi-permanent facilities where they can show off their latest and greatest products to potential customers in the metaverse.

Others, like Pernod Ricard's Absolut Vodka, Unilever's Degree, and Mondelez International's Trident are opting for special branded events for metaverse denizens, like Degree's Metathon, the first marathon in the metaverse. The fact that so many brands are staking their claims now and are actually adding value to the platforms they inhabit is helping to accelerate the building of metaverse platform communities.

Despite the general market's sluggishness, I'm still bullish on the metaverse

Even though investing in metaverse real estate is a long-term play, I am still very bullish on it. There has been ample interest and continues to be, and the people who are invested are not just holding property, but trying to improve and attract more community to their platforms. That's everything when it comes to this world.

Citi is also pretty bullish on the metaverse, predicting that it'll have up to a $13 trillion total addressable market, made up of upwards of five billion users by 2030. Real estate is a long-term game, after all, so buying now when prices are down a bit is an ideal scenario.

Of course, no metaverse real estate investment is guaranteed, and there's always a risk that your platform will lose its community and interest will disappear, dropping the value of any holdings there. But in my mind, the metaverse is where the future lives, and it's going to be as indispensable to Generation Z as social media is to those of us a bit older.