The metaverse is a digital world where real people perform activities with the help of their 3D avatars like connecting with other peoples or transacting transact digital properties. Through using different gadgets and devices this process becomes easy. It allows you to collaborate with anyone from anywhere in the world.
The main purpose of buying a home in the metaverse
The benefits of using metaverse in the real estate market are vast. But the main purpose is to provide the home buyers a better understanding of the amenities and neighborhood around the property that are planning to purchase. The buyers can get a strong sense of what facilities and environment are there around the house. They also can know who are their neighbors.
The risk of using the metaverse in real estate investment
To some digital world is as important as the real world. But you need to remember that the virtual world has been created to support our daily activities. The main purpose is to make real-life easier. The virtual world cannot be the alternative to the real world. The statement is also applicable to the metaverse in real estate. We can perform some acts in this virtual world. But still, the importance of real-life home inspection cannot be ignored.
So, the real estate broker Oren Alexander said, “The digital world, to some, is as important as the real world. It’s not about what you and I believe in, but it’s about what the future does.”
Metaverse real estate investor Andrew Kiguel said, “There are areas when you first go into the metaverse where people congregate — those areas would certainly be a lot more valuable than the areas that don’t have any events going on.”
Kiguel also added, “Think about the board game Monopoly. We just bought Boardwalk and the surrounding area. Areas, where people congregate, are far more valuable for advertisers and retailers to find ways to get in there to access that demographic.”