Is the Future of Real Estate in the Metaverse?

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Is the Future of Real Estate in the Metaverse?

Although the metaverse is not a new concept, it has recently gained much more attention. Many are now becoming familiar with the idea, and are looking into what its future offers and how they can be a part of it. The metaverse will completely transform the current way of life for the average individual, affecting work, trade, entertainment, leisure, exercise, social interactions, and everything in between.

Apart from the retail players, big tech companies are also getting into the space. Facebook, the world’s most popular social media platform as of 2021, has recently rebranded to “Meta”, showing its commitment to this new space. According to an official announcement, rebranding was necessary because the company is shifting its focus to bring the metaverse to life. Footwear and apparel giant Nike is also preparing for the metaverse and has signified interest in creating its own space, as well as Adidas, another powerhouse brand.

The metaverse will transform many aspects of life by improving interpersonal interactions, establishing communities, and helping businesses grow. The climate required to create and operate a successful business will also change considerably. Firstly, the metaverse will allow businesses, regardless of size, to establish digital stores for their goods and services. A significant advantage of these capabilities for the average company is that opening a physical store is no longer necessary. This could significantly reduce overhead costs without having to sacrifice customer reach. In a virtual world, a company can tap into wider audiences beyond the physical boundaries imposed in a real-life setting.

There are also multiple metaverse use cases for the entertainment sector. For example, entertainment brands could use metaverse locations to preview music to excite virtual fans, holding mega concerts to listeners around the world. Furthermore, fans may also get the chance to meet and interact with their favorite celebrities, an opportunity rarely possible in the real world.

Additionally, people can gather for leisure activities in virtual parks to play or bond over shared interests and ideas. These locations could replicate attractions available in the real world, engaging all different types of users in the process. For instance, people can build teams based on varying activities, including everything from traveling, virtual combat, or playing chess. The metaverse will offer a slew of new opportunities for individuals and brands alike.

One of the less obvious but very promising advantages of the metaverse is the opportunity to capitalize on virtual real estate. Regardless of sector or industry, the shift to the metaverse still requires individuals and businesses to establish a presence on the metaverse; this is where virtual real estate comes in and plays its part.

All metaverse offerings, including commerce, healthcare, entertainment, and other sectors, must set up shop somewhere in the metaverse to reach their desired base. Individuals can also invest in virtual properties for various reasons, In parallel to the traditional real estate market, Investors can earn profit by purchasing properties and leasing them to businesses and other franchises. Investors can also simply buy virtual properties, hold them into the future, and later flip them for a potential profit. With 500 million dollars sold just in real estate in the metaverse, last year projections state that it will double this year!

The key to making the best out of a real estate investment is getting in early. As with everything else, early buyers catch on quicker and are in a better position to make a profit if and when the value increases. Investors are able to pick their property at floor price in a strategic approach that will allow the potential for a larger profit as well as an easier sale just as investors do in the traditional real estate setting. Users looking to get into digital real estate in the metaverse can start their virtual portfolio and begin with Ethereum Towers.

Ethereum Towers

Ethereum Towers is a community-centric vertical megastructure set in the Ethereum Worlds metaverse. Consisting of 4,388 separate apartments, Ethereum Worlds is a major player in the space available to investors interested in taking an early chunk of the metaverse real estate market as it grows. The apartments in the structure are in two identical towers, each with 101 stories. Each apartment is an NFT on the Ethereum network and is available as an ERC-721 token.

All owners in the Ethereum Towers can use their apartments however they please. Each owner can personalize their space how they wish, giving them full autonomy over their digital real estate asset. For this, the Ethereum Towers offers a marketplace with a wide range of accessories, furnishings, and ornaments that owners can purchase and set as preferred. Since each apartment is available on the Ethereum blockchain as an NFT, ownership is guaranteed and easily verifiable.

Due to the deliberate design, Ethereum Towers apartment owners and guests can explore the social benefits of a large community with similar interests. All residents partake in a virtual social experience supported by meaningful interpersonal interactions. Each tower possesses communal areas where owners can meet and interact, regardless of any preconceived boundaries that would limit interaction in the physical world. Through these interactions, users can build a strong sense of belonging and establish friendships along the way.

Perhaps the most significant advantage to Ethereum Towers is the investment opportunity it offers. In the metaverse, unlike in the real world, digital property assets usually have a much lower entry barrier, making it much easier for interested investors to get involved before the masses. The value of the apartments are projected to increase over time as meta living becomes more popular, providing early adopters a chance to capitalize on being first movers.

Getting In Early

Investors that have been able to identify ideas that dramatically impact the functionality of the future have always prospered. Those who understand the impact and utility around the metaverse too will have a major headstart within the benefits that this realm will offer. With Facebook being one of the largest and most successful companies taking action to rebrand itself as "Meta," this should give investors a clear idea that a new significant era is on the horizon.

 

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