Metaverse virtual real estate plummeted, and Hu Jiye, director of the Blockchain Financial Rule of Law Research Center at China University of Political Science and Law, suggested the establishment of a Metaverse supervision mechanism. The latest data from the metaverse analysis platform WeMeta shows that the price of virtual land in the six major metaverse platforms will drop significantly in 2022. The average price will drop from about $17,000 in January this year to about $2,500 in August, a drop of 85% within six months. . The overall number of sales also fell from 16,000 last year to 2,000 in August this year, a drop of 87.5%. Professor Hu Jiye believes that the society needs to improve the governance system of the Metaverse. He revealed that he is currently writing a chapter on “Metaverse Governance” for the “Metaverse Leaders Reader”, and will make some new explorations in the governance and supervision of the Metaverse.
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