The Future of Properties in the Metaverse
Everyone from individual users to big corporations is talking about the metaverse. The craze of the metaverse is real, so much so that even Facebook rebranded to Meta to be relevant in the space. At first, the hype around the metaverse seemed limited to playing games and interacting in virtual reality, but the users are doing much more than just playing games in the metaverse. Along with in-game accessories, users are also purchasing virtual land parcels and estates, with $900,000 being the highest price paid for a virtual plot of land. Even though the prices are increasing over time, so....
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Historical-site metaverses may become a new business model for tourism, and they may rewrite history in the process. Metaverse events at ancient and historical sites could soon shape up to be an alternate future for tourism.Owners of physical castles and villas who have drafted up augmented reality blueprints of their properties think their ambitious plans to attract visitors in the metaverse will work, as virtual events can help them pay the hefty maintenance bills for their aging properties and also offer a chance to change historical narratives.The metaverse tourism model was expedited....
One of the United Arab Emirates (UAE)’s leading real estate property developers, DAMAC Properties, is planning to launch a project in the metaverse soon, the company’s managing director (MD) has said.
DAMAC Looking Into NFTs and Metaverse
According to Ali Sajwani, the managing director of the real estate property developer DAMAC Properties, his company is planning to start a project in the metaverse sometime in March. The project, if launched, will be a first for the London Stock Exchange-listed property developer.
Sajwani’s confirmation of the....
Virtual lands are all the rage, but why are real estate investors pouring literal millions into metaverse properties? Let’s break it down. Real estate in the metaverse is booming, but will it last?It’s no secret that investors are spending millions on metaverse real estate. But one must wonder if these investments are based on a fad.While there has always been speculative interest in metaverse properties, since projects like Decentraland launched, interest shot up upon Facebook’s name change to Meta. The social media entity has certainly faced some controversy, but there’s no denying its....
The ICO crowdfunding of a Blockchain decentralised platform for smart properties and digital identities under the MIT licenses agreement closed on September 5 far exceeding the set target. The target for Shanghai-based Metaverse was to raise RMB10m but it closed at RMB14.7m (over $2 million), which, according to Red Li, the moderator of 8btc, is an indication of the hunger the market has had for the pitch. Li said via Skype: “Metaverse ICO closed on our crowdfunding site at around 15m RMB yesterday. Metaverse is ambitious in building a web of smart properties. Visions of the public....
During the last seven days, virtual lands sold in the metaverse have outpaced a great number of non-fungible token (NFT) sales. Moreover, metaverse native crypto tokens like axie infinity, sandbox and decentraland and play-to-earn digital assets in general have jumped significantly in value this year.
Metaverse Properties Outpace NFT Collections — Play-to-Earn Tokens Rise
Following the meme-crypto hype, the decentralized finance (defi) trend, and the non-fungible token (NFT) craze, the metaverse has become a big deal. Essentially, a metaverse is a different version of....