🥽 Metaverse real estate market is expected to reach $5 billion by 2026

🥽 Metaverse real estate market is expected to reach $5 billion by 2026 🌎Do Kwon, Terraform Labs and many others face another class action lawsuit in the U.S 💸 Voyager rejects FTX/Alameda buyout proposal

GM. vEmpions! Let's take a quick look at the top news stories from around the crypto world.

🥽 Metaverse real estate market is expected to reach $5 billion by 2026 🌎 Do Kwon, Terraform Labs and many others face another class action lawsuit in the U.S💸 Voyager rejects FTX/Alameda buyout proposal

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Metaverse real estate market is expected to reach $5 billion by 2026

The real estate market in the metaverse is expected to grow significantly in the next few years. This is due to the increasing popularity of the metaverse as a mixed reality environment. In the metaverse, people can interact with each other and with virtual objects in a realistic way. This makes it an attractive option for businesses and individuals alike.

As the metaverse grows in popularity, the demand for real estate within it is also expected to increase. This will lead to a significant increase in prices for virtual property. Those who are looking to invest in the metaverse real estate market should do so now, while prices are still relatively low.

The Technavio report states that the metaverse real estate market is expected to reach $5 billion by 2026. This growth will be driven by the increasing use of the metaverse for business and personal purposes. Businesses are expected to use the metaverse for training, conferences, and other events. Individuals are expected to use the metaverse for entertainment, socializing, and gaming.

The metaverse concept is still in its early stages. However, it has great potential to grow into a mixed reality environment where people can take advantage of its many benefits. Prices for metaverse real estate are still relatively low. However, they are expected to rise as the metaverse becomes more popular. Those who invest in metaverse real estate now may be able to reap large profits in the future.

Do Kwon, Terraform Labs and many others face another class action lawsuit in the U.S

According to a press release from law firm Bragar Eagel & Squire, P.C., a class action lawsuit has been filed against Do Kwon, Terraform labs and others in the Northern District of California. The lawsuit is being brought on behalf of persons who invested in Terra tokens from May 20, 2021, to May 25, 2022.

The complaint filed by the stockholder rights law firm alleges that TerraForm Labs Jump Crypto, Jump Trading LLC, Republic Capital, Republic Maximal LLC, Tribe Capital, DFinance Capital, DFinance Technologies, GSR/GSR Markets Limited, Three Arrows Capital, Do Kwon, and Nicholas Platia have misled investors in the past year by overstating the potential of their Terra token.

The class action lawsuit is the second one to be filed in the U.S. against these individuals and organizations following the collapse of Terra's ecosystem in May. Recently, Scott+Scott Attorneys at Law LLP revealed that it had launched a class action lawsuit against Terraform Labs, making identical claims.

It is not uncommon for investors who have been misled or defrauded by a project to band together and file a class action lawsuit. In the case of Terra, there are several red flags that have been raised by investors and analysts in the past few months that could indicate fraud or misrepresentation.

Voyager rejects FTX/Alameda buyout proposal

Voyager Digital Holdings has rejected an offer from FTX and its investment arm Alameda Ventures to buy its digital assets out, citing that it would be "not value-maximizing" and will potentially "harm customers."

Voyager's lawyers filed a rejection letter in court on July 24 as part of the company's ongoing bankruptcy proceedings, denouncing the offer made public by FTX, FTX US, and Alameda on July 22. The offer would have bought out all of Voyager's assets and loans - except for the defaulted loan to 3AC.

Sam Bankman-Fried, the CEO of FTX and Alameda, mentioned in a tweet thread that he was disappointed by Voyager's decision: "Voyager's customers did not choose to be bankruptcy investors holding unsecured claims. The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business.”

Voyager is currently undergoing Chapter 11 bankruptcy proceedings, after filing for bankruptcy at the beginning of July. The company has been unable to get back the $650 million it loaned to the now bankrupt hedge fund Three Arrows Capital.