Web3 is gaining momentum and virtual real estate is at the forefront of the movement. In this video, I sit down with Justin and Bryan from Meta Money to discuss the rise of digital land ownership, how the blockchain can improve modern real estate processes, and what the future looks like for the housing market.
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0:28 Should we diversify into digital land?
2:46 Why do we have a system where someone needs a license to organize the sale of something?
4:47 What would happen if we moved all land assessments and land deeds to the blockchain?
7:06 How would private sales be affected by this new industry?
8:52 What is going to happen with the housing market in a few years?
10:21 Are these middleman jobs going to merge online?
#web3 #metaverse #crypto #realestate #blockchain #economy #money #invest
The Metaverse – A Virtual World For Crypto and Gaming
The metaverse is a virtual world created by a company called Meta. Animoca Brands is one such company and it has raised more than $810 million in funding over the past two years. The company has partnered with Metaverse VC specialist Liberty City Ventures and has received investments from investors such as Soros Fund Management, Winkelvoss Capital, and Boyu Capital. It recently raised $360 million in January and is valued at $5 billion.
The hype about the metaverse has sparked a frenzied interest in purchasing virtual land and digital land. Land parcels are sold in the virtual space using cryptocurrencies and non-fungible tokens. Then, real estate owners can lease the property to developers or metaverse event organizers. Recently, Ariana Grande held a virtual concert in Fortnite and more than 78 million players logged on. This virtual world offers plenty of room for crypto and gaming.
In the world of virtual reality, the idea of creating a digital world has been embraced by major tech companies such as Facebook. The company recently rebranded itself as Meta. Microsoft has also joined the metaverse. The company’s Mesh for Microsoft Teams application allows users to create avatars and collaborate in a 3D holographic environment. Holoportation is another feature that allows users to access the digital environment with a VR headset.
As the metaverse grows, entrepreneurs will drive the growth of content, services, and businesses. Entrepreneurs will create useful products and services to benefit the metaworld. However, the challenge is how to monetize them. For example, a digital cinema might issue tokens for users to buy movies. Tokens could also be used as passes to events or even planets. If these are monetized well, they can turn a small virtual world into a thriving, profitable business.