Developing over 40 acres of virtual land, MetaReal, a luxury real estate developer in Florida, is set to complete its "MetaReal" mansion project by the end of the year, benchmarking against Sandbox virtual homes!

Florida real estate firm ONE Sotheby’s International Realty collaborates with virtual architectural design firm Voxel Architects and NFT collector Gabe Sierra to jointly create corresponding meta real estate "MetaReal" in Miami on The Sandbox.

MetaReal: The First Real-world Home in the Metaverse

According to Forbes, MetaReal will be the first luxury home that exists both in the virtual world and in the real world. Located in Miami, MetaReal sits on 1 acre of land, equivalent to half an international standard soccer field, with its virtual version on The Sandbox mirroring the physical property.

Expected to be completed and auctioned off in the fourth quarter of 2022, the starting price has not been disclosed, and the buyer of the NFT will have ownership rights to the physical property.

Meta Residence is a blockchain project promoting the parallel existence of virtual and physical real estate. Founder Gabe Sierra stated:

We are creating an experience that bridges the gap between virtual and real. Imagine defeating a dragon in the metaverse, traversing mountains, and returning to your virtual mansion. When your friends come to visit, you show off your latest boring ape NFT acquisition. After chatting in the living room, you exit the metaverse to find yourself in an identical real-world house. This is the experience we are committed to delivering.

Acquiring Virtual Land in Bulk

In pursuit of the integrated virtual and physical vision, Florida real estate firm ONE Sotheby’s and Gabe Sierra have acquired over 40 acres of virtual land in the metaverse for commercial use, marketing, and gaming projects.

ONE Sotheby’s Managing Partner Daniel de la Vega remarked:

We believe the metaverse is the next evolution of social platforms and will play a role in the future of real estate in some way. Selling physical luxury homes through the metaverse is unprecedented, and we think this concept will create a unique user experience.

Gabe Sierra concluded that the alignment of physical homes with virtual properties will become a common occurrence in the future. As the metaverse experience becomes more realistic, the line between virtual and real will blur, making it increasingly difficult to distinguish between the two. In the next few years, we can expect to see more use cases of NFT technology applied to real asset transactions.