• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Tuesday, September 26, 2023
Comal County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Metaverse

Tech Cos, Real Estate Developers Eye Increased Interest For Virtual Property From Buyers On Metaverse – Economic Times

by NewsReporter
April 4, 2022
in Metaverse
tech-cos,-real-estate-developers-eye-increased-interest-for-virtual-property-from-buyers-on-metaverse-–-economic-times
Share on FacebookShare on Twitter

Synopsis

The companies building virtual worlds divide it into smaller plots that are bought as non-fungible tokens (NFT). Some companies are also helping buyers with a registry which cannot be edited so that no one else can claim that plot.

the metaverseETtech
Illustration: Rahul Awasthi

New Delhi: Technology companies and real estate developers expect an increase in interest among Indians for buying virtual property on the metaverse platform. Some companies have already planned virtual cities and an announcement by singer Daler Mehndi regarding buying virtual land created buzz among investors as well said industry executives.

“This is something which will continue to attract interest. While anyone can create a platform and sell virtual land, the value will depend on how good the virtual world is,” said Ashish Agarwal, co-founder, Lepasa, which is creating virtual cities.

Also Read: What is the metaverse and why is everyone talking about it?

The company plans to create 15-20 different cities over 416 sq km, with each city having a different theme.

“The land on the metaverse can also be used by brands to build experience centres and retail space to showcase products. People, instead of downloading different games, can play all the games on the metaverse. This will increase the value of virtual land,” said Alok Joshi, co-founder, Lepasa.

Also Read: Who’s building the metaverse?

Discover the stories of your interest

  • 88412482

  • 88412342

  • 88412088

  • 88412029

  • 88411860

  • 88411824

88591548

88591548

The metaverse is a relatively new concept in real estate technology, after concepts such as augmented reality (AR) and virtual reality (VR).

“Digital land trading and investing in virtual real estate is throbbing in numbers as millions of investors are open to the concept of the metaverse. Many real estate investors are seeing it as the next prominent step towards the adoption of digitisation in the real estate sector after virtual site tours, online bookings and chatbots,” said Nayan Raheja, director, Raheja Developers.

The companies building virtual worlds divide it into smaller plots that are bought as non-fungible tokens (NFT). Some companies are also helping buyers with a registry that cannot be edited so that no one else can claim that plot.

Alakananda Menon, programme chairperson, MBA Real Estate Management, NMIMS, School of Business Management, said the concept of virtual real estate on metaverse is great.

“However, it would be dictated by the developers in the metaverse. Just like in physical real estate, the asset value increases if the nearby infrastructure is great. Similarly in the virtual space, software developers would control the space by creating renderings and metaverse assets that would attract people or investors onto the platform,” said Menon.

To increase the value of the virtual land, many developers might try to get big brands to join the city and showcase their products. It is like the real estate of a metro city, where the value of a property increases if it is centrally located and near a big infrastructure project.

Experts said digital real estate looks promising and that those who have invested in cryptocurrency will definitely invest in virtual land.

“There surely is a growing demand for escapism from reality and real estate in the metaverse perfectly fits in. Technology can always play a vital role in smoothing the overall transaction cycle and keeping the concerns of customers in the centre. It can never replace the very fundamental idea of home,” said Ankit Kansal, managing director, 360 Realtors.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

…moreless

ETPrime stories of the day

Related Posts

axa-im-launches-metaverse-strategy-strengthening-its-thematic-offering-–-valuewalk

AXA IM Launches Metaverse Strategy Strengthening Its Thematic Offering – ValueWalk

by NewsReporter
April 14, 2022
0

geralt / Pixabay AXA Investment Managers (AXA IM) launches the AXA IM Metaverse strategy that aims to invest in companies which play a part in the convergence of the digital and physical world. This new strategy is managed by Pauline Llandric, alongside AXA IM’s wider global thematics team, and will complement...

Emirates To Expand Into The Metaverse And Launch Own NFTs – Bloomberg

by NewsReporter
April 14, 2022
0

We've detected unusual activity from your computer network To continue, please click the box below to let us know you're not a robot.

if-you’re-waiting-for-the-metaverse-revolution,-you-already-missed-it-–-venturebeat

If You’re Waiting For The Metaverse Revolution, You Already Missed It – VentureBeat

by NewsReporter
April 13, 2022
0

We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Register today! Facebook has invested $10 billion in the metaverse. It’s so bullish on this new state of existence that it...

interested-in-music-nfts?-jupiter-meta-to-launch-music-nfts-in-metaverse-concert.-see-details-|-mint-–-mint

Interested In Music Nfts? Jupiter Meta To Launch Music Nfts In Metaverse Concert. See Details | Mint – Mint

by NewsReporter
April 13, 2022
0

SubscribeSearchMy Readse-paperNew Notifications Newsletters IFSC Code FinderNew MintGenie For You Top Sections News Companies News Start-ups Company Results People Technology Gadgets Tech Reviews App News Foldable Smartphones 5G Tech Markets Stock Markets Commodities Mark To Market IPO Live Blog Money Personal Finance Q&A Photos Mutual Funds Mint 50 - Top...

Comal County News Online

© 2021 Comal County News Online

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Comal County News Online

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT