Technology, real estate, and the metaverse reality are quickly catching up with one another. We’re looking at a future where what happens physically also happens in the metaverse. NFTs have added another dimension to this, rapidly pacing up the gradual shift into the metaverse. While some of us are still getting used to the idea of a counterpart virtual universe, others are racing ahead to acquire the “firsts” of the metaverse. Times are changing, and so is the concept of real estate.
One Sotheby’s International Realty recently partnered with Voxel Architects and Meta Residence to build a first-of-its-kind metaverse luxury mansion in Miami, Florida. The first MetaReal mansion will serve its owner two counterpart properties, one in the real world and the other in the metaverse.
The real-world mansion is in Miami, but where is its virtual doppelganger? The metaverse property is placed in the Sandbox, a community-driven platform that allows users to buy real estate assets using blockchain technology.
This luxury mansion will have a hefty price tag on an auction. The reserve price is yet to be disclosed, but the auction will take place sometime in 2022, with the mansion expected to be completed in the last quarter of the year.
So, what’s in it for the buyer? We don’t know much about what the luxury mansion will look like for now. The collaborating partners did announce that the property would encompass seven bedrooms and five bathrooms. Plus, ONE Sotheby’s and Voxel Architects are well-known for their extravagant properties that are second to none. Furthermore, they’ve made a name for themselves in the metaverse real estate market, having made some of the best MetaReal properties.
Whoever wins the auction will get the best of both worlds – ownership of the real-world property and exclusive rights to the virtual mansion, a mirror replica of the real-world design and location.
Gabe Sierra, the founder of Meta Residence, stated that the vision for this unique MetaReal mansion was to blend the lines between the real-world and metaverse. She further stated that they want the future-owner to experience and live in a luxurious mansion in reality and virtually.
Metaverse properties are no longer a thing of the future. Instead, it’s happening fast. ONE Sotheby’s and Meta Residence, having acquired 40 acres of land in the Sandbox, are expected to build more MetaReal properties in the future. Similarly, celebrities like Snoop Dogg are buying properties in virtual reality.
Living in the metaverse doesn’t come cheap either. You’d think a virtual-based property would only be a fraction of real-world property value. However, you’d be mistaken. The MetaReal property next to Snoop Dogg’s mansion was sold at a whopping $450,000. So, if you’re planning to buy this luxury mansion, or any luxury mansion in the metaverse on that note, get ready to put up a lot of money for it.
It is safe to say that metaverse properties are becoming an extension of their real-life counterparts. With the rise of virtual reality, you’ll be living two lives at one time in the near future. Whether you want to host a party that the whole (perhaps virtual) city will be talking about or relax in a bathtub with splendid (artificial) views, what better way than to live your best life in the real world as well as the metaverse?
