Experts talk about Metaverse and Real Estate

The decentralized nature of digital assets has already seen a practical use in the real estate market, with Metaverse receiving its first major investment from Shanghai-based developer Kingway. The move is part of an ongoing effort to create what seems like a parallel universe for digital goods and services by combining blockchain technology with virtual reality.

Metaverse is a blockchain-based virtual reality platform that uses digital assets. The company created the Metaverse ETP to help fund projects related to the virtual world. Experts talk about Metaverse and Real Estate. Read more in detail here: metaverse real estate explained.

The Burnham-Moores Center hosted a panel discussion titled “The Metaverse, How it Impacts Real Estate… and You” to address how the metaverse could affect real estate.

Participants included Neel Naicker, co-founder of The Metamall Group, and Stath Karras, executive director of the Burnham-Moores Center and moderator of the event. Hugo Swart, vice president and general manager of XM at Qualcomm Technologies, and Geoffrey Kasselman, SVP of CRG, were among the others.

Several facets of metaverse real estate were discussed.

The following are some of the key takeaways from the occasion:

Already Drawing Large Amounts

The industry is Already Drawing Large Amounts and is worth $1.8 trillion. Special mention goes to Qualcomm Ventures’ $100m Snapdragon Metaverse Fund created by the company to target metaverse content creators.

Swart said the fund might assist Qualcomm in determining future plans, calling it “a major gamble Qualcomm is making.”

“In some way or another, I think this is an opportunity for all of us,” Kasselman said. There are great chances in either way, so if you can’t earn money in the metaverse, make it on the metaverse.

Offices of the future will look quite different.

Experts anticipate that the idea of virtual workplaces will become increasingly more “common.”

Office space occupancy in locations like Chicago is already at around 50%, thus the scenario is already shifting.

“How are we going to go back to 90% or 80%?” Kasselman said while proposing two fixes.

With the help of technology like “CGI, green screen, hologram, avatar and immersive metaverse experiences, that can be broadcast throughout your organization,” he predicts that offices will transform into studios.

Furthermore, he foresees that offices of the future would serve a variety of functions, including that of warehouses. Additionally, he thinks that “5G small scale data centers might monetise space in office buildings.”

The Retail Market Might Modify

The retail market will undergo a significant transition, thus the real estate sector should be ready.

Karras added, “Retail in the metaverse is relatively straightforward to understand. Dubai and other major centers have already begun to make investments in this sector.

“If you own and operate a real estate business, you not only have a physical representation of a mall, but you also have a virtual mall where customers from all over the globe may go shopping. Imagine a scenario in which you might ask your buddies to join you on a shopping trip to the Dubai Mall,” he remarked.

NFTs are predicted by experts to be significant in the retail sector.

You’ll be able to use tokens to make international purchases starting tomorrow, Naicker promised. “I go, purchase tokens, and in retail, in Dubai, I use the same coins as in Paris, London, or Brazil, and the expenses are negligible compared to what it is now from the bank fees,” the speaker said. The metaverse makes taking action on it simpler, so it will all come together.

buying and selling more quickly

Naicker thinks that the idea of “digital twins” may be used by the metaverse to enhance the buying and selling process.

Commercial real estate is one of the least liquid industries, worth $70 trillion, according to him. It takes time to sell and get liquidity. According to him, a digital twin enables potential purchasers or renters to get an analysis in real time so they may plan for the future of a property and do international business.

Buyers and sellers will be able to examine the metaverse and inspect the property online thanks to technology. They will even be able to get the necessary data and make judgments. 

Naicker remarked, “The owners can advertise this everywhere. You can reach more people if you have a digital doppelganger, according to

Although Kasselman claims that soon things may change, no firm presently makes use of this technology. In fact, he is trying to persuade his own business to take this course.

Due of a lack of scarcity, valuing in the metaverse might be difficult. But analysts think they’ll be able to produce shortage.

There will be winning sites and losing locations in the metaverse, according to Kasselman. And there will be a shortage in the virtual communities incorporated into the metaverse where everyone wants to be because people will flock to wherever is cool, trendy, or energetic. There will be a limited stock of virtual NFT-backed real estate available in that community, but there will be more demand than there is supply.

Naicker emphasized how many businesses are already purchasing and selling land in the metaverse without having any physical presence there. 

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Metaverse is a blockchain-based project that has been around for a while. It’s designed to be the first decentralized virtual reality platform. Experts talk about this and other topics related to cryptocurrencies. Reference: best metaverse real estate.

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