Virtual Real Estate – What’s the buzz?: If you’re tech-savvy or just like to keep up with the latest news about the virtual world, you’ve probably heard about the Metaverse, right? For those who don’t know, it is about creating a virtual universe using technologies such as augmented reality, artificial intelligence, and the internet.
Through the Metaverse, it is possible to be part of a virtual universe without leaving the house. If you want to buy wires and electrical cables in a mall, for example, it will be possible to use virtual reality glasses that will transport you to this reality, all through avatars. This technology that is being invested even by Marck Zuckerberg is already a great success and has generated more and more expectations in people.
Among the thousands of markets that will be affected by the Metaverse is the real estate market. To get an idea of how popular it is becoming, virtual land was sold for more than 1 million dollars next to the famous mansion – also virtual – of rapper Snoop Dogg.
In other words, the real estate market is already real, so in today’s text, we will show you how to use the Metaverse within this market. Ready to check it out? So let’s go!
The real estate market in the Metaverse
In November 2021, a real estate company called Metaverse Group purchased virtual land for R$13.5 million reais within a platform called Decentraland. Days before, the government of Barbados announced plans to create a “virtual embassy” within that same digital universe.
Rapper Snoop Dogg, who has even been mentioned in this text, is creating his own “snoopverse” and has already purchased a virtual land worth R$2.5 million reais on The Sandbox platform. In other words, the Metaverse is coming with force in the real estate market, precisely when we talk about virtual land.
Some platforms that work with this methodology are already closing deals and becoming popular due to the variety of options presented to each person who wants to be part of this new digital world where you can find everything, even the facade of ACM.
Virtual land
As much as the Metaverse has other functionalities within the real estate sector, such as helping to sample a physical house for purchase and even providing 3D holograms for a preview of a house that is still on the plan, the main way to use this technology is through virtual terrains.
They are on the rise in the market, and in the future, a large part of the population may own their physical and digital home, perhaps investing even more in their land that is within the internet.
To use this to your advantage, you need to look for compact and effective platforms for your business and see what types of land are best-selling, subdivisions, and so on. This is still a new and developing market, so be careful and take advantage of opportunities.
Remember, virtual real estate is not paid with virtual currencies. However, its real profits make this segment much more interesting than you might imagine.
How to buy
Virtual lands are scattered across the Metaverse, and to buy them. You need a virtual wallet storing your cryptocurrencies. Prices vary depending on their size and location, and you transfer the value to the company that receives your NFT and becomes the new owner.
There are also other possibilities for action, such as:
Meeting room rental: People meet in a virtual space and can interact as if they were in a room in the real world. Renting them can be a good opportunity.
3D Holograms: They could be revolutionary for pre-sales of real estate. A hologram will allow the client to see the property’s details in a much more real way than in a drawing. This experience can help spread the word, making the sale easier.
We are living in a hybrid world. The Metaverse for realtors will bring several applications to explore this. Just choose the best one for your business or combine them to make even more profits.
Controversies
Although it seems very promising, it is not advisable to spend every cent you have from the power generator rental company on the purchase of virtual land. You should be careful before taking any hasty actions since even if you are on the upside, this is still a new market and should be carefully analyzed.
There are no laws on the purchase and sale of virtual properties. If they do, some people may lose out and lose their investments. So analyze well, get to know them better, and invest slowly.
