The real estate sector uses metaverse - Metaverse Blog

Metaverse in the real estate market

Metaverse in the real estate market
Metaverse in the real estate market
With the spread of the Corona pandemic, the movement stopped and economies closed, which led to the collapse of the real estate sector in many countries. As a result of the above, virtual reality technology has been introduced in real estate marketing.
Media reports revealed the sale of real estate and land within this virtual world, with a value exceeding hundreds of thousands of dollars.

Historic real estate deals

In this article, we review 3 deals that ranged in price from $913,000 to $2.4 million.
  1. The transaction of the Metaverse Group's purchase of a plot of land in the virtual world of "Decentraland" recorded a historical price that is so far the highest in the virtual land sale market. The deal took place in exchange for 618,000 MANA coins, a digital currency based on the encrypted Ethereum network, worth about $2.4 million.
  2. This land covers an area of ​​16 acres of the land of the metaphysical world "Decentraland", and "Republic Realm" transformed that land into an area called "MetaJuku", mimicking the "HetaJuku" area in Japan, which is famous for specialized fashion and fashion stores. Some pieces will also be available for sale, and users' avatars can wear them in the virtual world. The plot of land was sold for $913,000.
  3. This November witnessed the sale of the second most expensive virtual plot of land at a price of 550 “Ether”, and that deal took place within the “Axie Infinity” world, which allows players to buy land and set up various facilities for entertainment and care for virtual “Axies” beings.

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