ONE Sotheby’s International Realty is investing in the metaverse in a big way, with plans to build and sell the first real-world mansion using NFT technology.
Gabe Sierra, founder of Meta Residence, which is developing the project, said in a statement that a luxury mansion being built in Miami comes with a virtual counterpart in The Sandbox metaverse, an NFT asset that “blurs the lines between reality and reality.” “A project like this has never been delivered before, and we are proud to offer buyers of this NFT the opportunity of a lifetime to own their first ever MetaReal Mansion.”
In the real world, the 11,000-square-foot home will offer seven bedrooms and nine bathrooms on more than an acre of one of Miami’s hottest neighborhoods. The “MetaReal Mansion” will reflect real-world ownership, and will bring over 40 additional acres into the metaverse for development as residential, commercial, marketing or gaming projects.
“The home’s main counterpart will be an extension of the real-world home, allowing the buyer to host meetings, events, and parties at home with guests from all over the world,” Sierra said. Forbes. “Imagine you are battling a dragon, traversing a mountain range, and then finally reaching your metaverse, where you are greeted by your friends who visit you to check out the new Bored Ape NFT. After interacting in your virtual living room, exit the metaverse, and you are now seated inside Same as the real house. That’s the experience we make.”
Michael Martinez and ONE Sotheby’s International Realty, the project’s exclusive sales agent, plan to carry out the sale on the Ethereum blockchain when the property is auctioned this year at a so far undisclosed reserve price.
New York luxury real estate ends up at the top in 2021
Buy now for unlimited access and all member-only benefits.
As we head into 2022, market analytics firm UrbanDigs has taken one last look at New York City’s real estate market for 2021. Despite the pandemic, the $4 million-plus New York City market has remained strong, according to the company’s annual compendium, which finds that since In 2008, six of the top 10 luxury months in the luxury sector by dollar volume occurred in 2021.
The new year may see a period of cooling off, although the first quarter of 2022 is “significantly slower” than the last quarter of 2021. “The market could go sideways as buyers and sellers look for balance in a more balanced market,” the report predicts, anticipating a calm. in several quarters of 2022. “Increased competition between sellers may cool the market and buyers may start waiting for price reductions,” the report says.
.