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Metaverse real estate platform development:
Use case 1. Digital ownership
Traditional real estate is filled with paperwork and intermediaries, which, however, doesn’t save buyers from fraudsters. Some details may be missing in the contract, and they risk overlooking those and may even end up not being able to claim property ownership.
With metaverse, you can ‘seal’ property deals with smart contracts that ensure their automated execution to save buyers from trouble digging themselves into endless paperwork. Property can be distributed in the form of NFTs, which guarantees their uniqueness and proves ownership.
Use case 2. Accessible investing
Real estate is a good passive income for those who have money to invest. An investor has to purchase a property asset in its entirety to own it, which significantly narrows down the pool of potential investors due to its cost and excludes investment opportunities for many.
Metaverse real estate removes artificial investment barriers built by non-flexible investment requirements and often exorbitant initial rates! It allows for the distribution of virtual property as tokens that owners can split into smaller-rate fractions so multiple users at once can own it.
Use case 3. Investor engagement
In traditional real estate, attracting investments often becomes a challenge; property takes time to build, with many force majors along the way, extending the construction process, which repels many potential investors. Sometimes, the construction doesn’t even start for this reason.
Thanks to a ‘digital twin’ technology, property owners can create digital representations of how real-world property will look once it’s built. By presenting those on the metaverse, they can encourage users to invest in their construction by rewarding them with exclusive perks, tokens, NFTs, or providing other incentives.