The Metaverse is a mix of virtual reality, experiences, content, and more that blends the physical and virtual universes. Although Metaverse’s potential is unlikely to be acknowledged for decades to come due to technological limits, future-looking brands are still taking advantage of all the Metaverse has to offer today. Theoretically, we can explore many concepts in the Metaverse, but today we’re going to talk about real estate specifically.
As you may know, the term ‘Metaverse’ has been a hot-topic lately because of Mark Zuckerberg’s latest rebranding of his company to ‘Meta’. His announcement took the world by a storm, as he plans to take the next step forward in mixing the virtual and physical reality exist concurrently.
Now, let’s begin exploring the metaverse and see what potential it has on the real estate industry as a whole.
|1. Cost-Effective Real Estate Investment 🏠💰
2. Potential to Get Into Virtual Property 👾🌏
1) Cost-Effective Options for Real Estate Investment
Once the concept of the metaverse is refined, it is likely that virtual real estate investment will become more apparent, as opposed to in-person showings.
One possible explanation of why virtual real estate investment will be popular is because it allows people to invest in property without the need to travel.
There’s also the case of VR showings, where people are able to transport themselves to their ideal property without moving from their homes.
VR aside, you can check out our PropTech group IQI and their 360° project house tour features for a deeper understanding of how virtual house tours work!
In addition to that, it eases the process of scouting for far-off neighbourhoods efficiently. Ultimately, it helps people save money.
With the right tech and resources, looking for property should be a breeze with the metaverse.
2) Increasing Demand and Popularity for Virtual Property
It’s also likely that the metaverse will be scattered with virtual properties. Virtual real estate can be a place where people use to explore a different life.
As it is often showcased in this day and age, we can see that online games where people are given the freedom to act and express themselves however they please are significantly popular, able to capture the attention of hundreds of millions of gamers.
Therefore, in the case of the metaverse and virtual real estate, the applications of what makes an online game so great can be applied here as well. It extends to all industries—all you need is the right idea and imagination to create a space that people want to be a part of.
3) Potential to Drive Innovative Marketing Techniques
Through the push of new technologies and opportunities, marketing is more accessible and fresher than ever. The metaverse opens the door for an exorbitant amount of new methods and techniques for marketers to utilise to market their brand, products and services.
In fact, brands like Nike, Gucci, Disney, Snap and Facebook are looking into creating virtual communities, new content, fashion and art, experiences and even worlds.
Immersive technologies lay a solid foundation to drive innovative marketing trends, but the real challenge comes to our creativity and how we plan to build upon the foundation that has been laid down.
Being part of the most ambitious PropTech group in Asia, we’re super-fans of everything tech! We look forward to seeing how the Metaverse advance and being part of the revolution.
If you’re looking to start a career in real estate negotiation where we optimise technology fully, come and join us!