Virtual Real Estate: The Realtor’s Guide to the Metaverse | Follow Up Boss

Abstract

The "Real world" investment in digital worlds has an even heftier price tag now that serious capital is connected to the digital version of one of life's most important purchases: virtual real estate. Table of contents The building blocks of virtual real estateVirtual real estate: The key W'sShould virtual real estate worry me?What's next for virtual real estate? Before we define virtual real estate, let's take a quick step back and review some key terms that will serve as building blocks as we discuss this topic. Metaverses are often categorized as "Fictional universes." And while in some respects this may be true, the financial capital and social potential backing the metaverse is more significant than ever-and as we'll see, virtual real estate is ultimately anything but "Fictional." Now that we've covered the very basics of real estate in the metaverse, let's break it down even further into the various elements you need to know in order to understand its greater impact-and where you as a real estate agent might fit in. Let's tackle these questions one by one to find out how virtual real estate compares to traditional or "Physical" real estate. As a real estate professional, you may be saying to yourself, "Um, excuse me?! I think we're missing a very important key player here!" And we have to admit, it is simpler and more common to purchase virtual real estate without the aid of a real estate agent or broker. Virtual real estate will not and cannot replace our need for traditional real estate. Second, think of virtual real estate as another niche or avenue of real estate.