The Advantages And Potential Of VR Integration

Individuals Can Use Their Digitised Land To Play Games And Socialize

For real estate investors, these parcels of digitised land offer a lucrative opportunity in which assets can be developed, flipped, or leased just like in our daily lives. The use cases for metaverse real estate are endless and can be leveraged further through the use of a certain immersive technology known as virtual reality (VR).

As further mentioned in the report, there have been many technological developments throughout the years that have contributed to forming the framework of industries across the board, but none have been as disruptive as VR in the real estate industry. For years, real estate developers and agencies have implemented VR to give immersive previews or top-down walkthroughs of properties, but consumers and investors always demand more.

With the metaverse, these experiences can be developed in conjunction with VR and will provide brands, investors, and other stakeholders with the clarity they need to make informed investing decisions.

Commenting on the rise of metaverse real estate, a report said that, according to a report from Euronews, the metaverse real estate market is expected to grow at a compound annual growth rate (CAGR) of 55.1% from 2022 to 2027. This rapid growth is driven by the increased adoption of virtual reality and the need for a digital presence among stakeholders.

The report also shows that metaverse real estate has a strong correlation with physical real estate, where the demand for virtual space in the metaverse is directly related to the demand for physical space in the real world.

The adoption of virtual reality is a major contributing factor to the rise of metaverse experiences and, by extension, digital properties in the metaverse. While many organisations are focused on simply creating digital properties, the real potential lies within the intersection of both physical and virtual assets—specifically, entities that can allow both digital and physical assets to be customised and fine-tuned via VR and the metaverse.

Furthermore, talking about the benefits of digital real estate mentioned in the report, one of the key benefits of metaverse real estate is the ability to create a digital presence that can cater to a global audience.

According to an article published by Polygon, owning metaverse land provides individuals with the opportunity to create a digital version of their physical business or store without the limitations of a physical location. This enables businesses to reach a wider audience without incurring the costs associated with setting up a physical location.

Another benefit of metaverse real estate is the potential for significant capital appreciation. The demand for virtual land and property within the metaverse is rapidly increasing, driving up the value of digital assets. As a result, early investors in metaverse real estate can potentially benefit from substantial capital gains.

Unlocking Potential through VR

According to the report, virtual reality (VR) is increasingly being used in real estate investment to provide floor plan walkthroughs and virtual tours. By creating virtual tours of properties, buyers are able to view a property remotely by virtually walking through it. This is particularly useful for international buyers who cannot physically visit a property due to travel restrictions or other reasons. By using VR, buyers can experience a property as if they were physically there, allowing them to make more informed decisions about whether to purchase it.

Offering a full suite of services, such as virtual staging and 360-degree immersive tours, can level up the experience for investors and greatly boost investor confidence. Convenience, comfort, and confidence are three pillars of our VR integration, making it quintessential to the user experience and investment decision.

The convenience of viewing an asset remotely, paired with the luxury of having multiple services available, such as staging, instills confidence in stakeholders to make well-informed investing decisions.

Most people still don't know how to use the full potential of VR integration, so the potential for metaverse real estate is huge.

There’s no doubt that investors now have increased flexibility, transparency, and accessibility to invest in digital assets, whether that be for commercial or recreational purposes, added the report.

With the ability to create a digital presence that can cater to a global audience and the potential for capital gains, there’s no question that VR will continue to develop and improve experiences for investors’ decisions.

Report concluded that as these technologies and capabilities grow for both VR and the metaverse, metaverse real estate will continue to flourish and attract numerous stakeholders that can benefit from this new digital frontier.