3 Ways The Metaverse Is Bringing Change To The Real-Estate Industry

The Metaverse may be novel, but it is definitely here to stay with a mission to revolutionise the way we see the world and how we partake in it.

In simple words, the Metaverse is a digital representation of worlds where users can gather to interact. Through the use of virtual or full-body avatars, users will be able to play, work or even hang out with other users in these digital realms. Think Minecraft meets reality.

World-renowned firms such as Meta (formerly known as Facebook) (NASDAQ:META), Disney (NYSE:DIS), and even Coca-Cola (NYSE:KO) have become a part of the Metaverse, boasting their achievements and progress in the space all over the internet.

Most recently, HSBC became the first global financial services provider to acquire its first metaverse property in The Sandbox Metaverse, which will be developed to engage and connect the company with sports, esports, and gaming enthusiasts.

According to MetaMetric Solutions, Metaverse real estate sales topped US$ 500 million in 2021, with a projection to hit a billion in 2022. Evidently, the introduction of the sale of property and land in the metaverse has opened doors to bringing revolution to real estate. Here’s how:


Reimagining Real Estate Investing

Unlike real estate in the real world, the Metaverse is reimagining real estate investing. Real estate investing in the metaverse opens doors to not only traditional real estate investors but also crypto investors looking to explore the real estate market.

The Metaverse creates a good buffer between the two, creating an ecosystem that works for all looking to explore each other. As an added bonus, investing in virtual property cuts out all the extra paperwork, involvement of intermediaries, and fees that come with conventional purchasing of property. It’s a win-win situation for all parties involved.


Redefining Accessibility

The beauty of the Metaverse lies in its borderless property - pun intended.

It doesn’t matter where you are in the world, you could be in Singapore or even London and still participate in it. As long as you have a digital crypto wallet — such as Metamask — you have the choice to begin investing without the need or involvement of third parties.


Creating Opportunities

Through the Metaverse, users will be able to earn income not just from the appreciation of the real estate, but also from hosting exclusive events on their virtual properties.

As a user, you will also be given the chance to create your very own business in the Metaverse. For example, you could create a restaurant or art gallery and charge users to experience your spaces. As for the art gallery, you could even charge NFT artists who would like to display their art in your gallery.

Besides that, instead of creating your own business, you could also get hired full-time by a business in the metaverse to run it, creating an alternative income stream for yourself.

It is believed that the metaverse will grow into a fully functioning economy in the near future, creating a virtual experience unlike any other for all to enjoy.

Property firms such as Bricktrade, a UK-based property investment platform are at the forefront of this revolution by partnering with Realm, a social impact-driven metaverse to bridge the gap between reality and the metaverse. Bricktrade will be providing property investors with the chance to own digital twins of their real-world properties in the metaverse.

This collaboration will create a unique experience for all, further enhancing the real estate industry both in reality and virtually.