Do you want a luxury mansion for 2,200 euros? search the metaverse

The real estate sector takes root in the metaverse, that digital realm in which thousands of intangible plots of land are sold every day for millions of euros, but where there is also the possibility of becoming the owner of an impressive mansion for around $2,400 —2,180 euros a year. current exchange rate—paid in the cryptocurrency required by the platform.

As in the real estate market, the cost depends on the moment in which the operation is carried out, the metaverse in which it is invested, the surface of the plot and its location.

With great speed a colossal digital real estate market is brewing, especially since last year Mark Zuckerberg changed the name of Facebook to Meta.

Since then, interest in this parallel universe has skyrocketed, where significant speculation prevails,

Sales across the top four metaverses—Sandbox, Decentraland, Cryptovoxels, and Somnium—reached $501 million in 2021, according to MetaMetric Solutions.

During 2021, 268,645 virtual land (digital assets) were sold.

62% of them belonged to Sandbox and had an average price of 12,700 dollars (11,500 euros) per plot.

This metaverse and the Decentraland metaverse are the most popular, but also the most expensive.

In fact, some purchases have exceeded several million dollars.

It is estimated that in 2022 sales will double, up to one billion dollars (about 900 million euros).

The co-founder of the digital real estate company Metaverse Group, Michael Gord, explained the potential in

: “Imagine if you came to New York when it was farmland and you had the option to get a SoHo block.”

For this reason, more and more real estate companies and luxury agents are getting fully involved in this universe, where the participants interact with avatars.

This week the residences of a new metaverse have gone on sale, that of Keys.

There are 8,888 realistic 3D rendered digital mansions available to key currency holders.

Image of one of the digital luxury mansions being sold in the Keys metaverse.

The owner of the company Prestige Realty Group, Tony Rodríguez-Tellaheche, which operates in Miami, has bought 18 of these residences —it is the maximum for each

or virtual wallet—.

The price per mansion is around 2,460 dollars (corresponds to 0.88 ethereum, according to the value at which it was listed last Friday).

“It's like the real world.

I want to resell several metamansions in the future, but I also want to keep others for a longer time.

In the future we want to have a meeting like this [referring to the videoconference conversation] in my mansion in the metaverse, ”he says.

After the sale of the residential part, this metaverse will take out land where you can build whatever you want.

For example, "you can open a furniture company for the digital mansions or to sell them physically, with shipping to your real home," she says.

Rodríguez-Tellaheche is convinced of the revaluation potential of the mansions he has just bought, as has already happened in other metaverses.

“I sell real estate in Miami, where houses are 35% more expensive than two years ago because there is no inventory and there is a lot of demand.

The same thing will happen in the Keys metaverse, some are going to have more value than many houses in the real world”, says this agent, convinced of an upcoming bubble.

Image of one of the digital luxury mansions being sold in the Keys metaverse.

More examples.

Virtual real estate development company Everyrealm, formerly known as Republic Realm, is present in 13 metaverses.

He has signed the historical record paying 4.3 million dollars for a plot in Sandbox.

The seller was the video game company Atari.

Their business strategy, they announce, is to achieve an attractive risk-adjusted return through the acquisition, management, development and sale of digital plots.

The firm has already created a museum of digital culture for NFT ( non-fungible

), a shopping center and the first university.

Everything in the metaverse.

In August 2021 he designed Fantasy Islands, a luxury residential in Sandbox anchored in 100 islands, whose sale sold out in 24 hours.

Its price started at 15,000 dollars, although in the resale it has reached 300,000.

Another example is that of the company Metaverse Group, which has bought a piece of land in Decentraland for 2.43 million dollars.

In this case, to host fashion events and retail stores.

An avalanche of companies, big brands and investors are rushing to buy land to build their commercial spaces.

Nobody wants to miss this train, although many companies do not know at the moment if the locomotive will reach its destination or will derail.

Nike, Adidas, Sotheby's, PwC, JP Morgan, Samsung—the list is immense—have spent a fortune.

There is a huge business opportunity for these companies, who can advertise and host events to a younger digital audience.

the spanish universe

This is what happens in the first Spanish metaverse.

accelerator

promoted by the president of Mercadona, Juan Roig.

This metaverse has recently put its first 1,000 plots up for pre-sale at a price of between 2,000 and 20,000 euros.

It is divided into communities.

“We have two, one focused on music and the other on sports.

In both there are 500 finite plots, there will not be more because they are created by NFT technology”, indicates Soraya Cadalso, co-founder.

On its digital land, which for now is bought with euros, a virtual replica of a club, a concert hall, stadiums or festivals can be built.

Although there are also plots for other activities: crypto banking, shops... "Whoever buys can position their brand, sell products or give exclusive content to their customers," explains Cadalso.

Once purchased by the owner, each piece of land is an NFT secured by a unique code through a digital contract that can be exploited, sold or rented.

“Less than 20 days ago we closed the pre-sale registration and started selling the Terras (the name they call their land).

Since then, 30% of the Terras have been sold", indicates Cadalso.

The sizes range from 400 square meters for the smallest (2,000 euros) to 3,906 square meters for the largest (20,000 euros).

Also in Spain, Metrovacesa is the first promoter to immerse itself in the metaverse, although it is still limited.

It does not sell digital properties, but real ones, thanks to its alliance with the Spanish start-up Datacasas Proptech.

This proof of concept begins with the Málaga Towers promotion in Decentraland, with the possibility of accessing other virtual worlds in the future.