The concept of the metaverse is no longer new. This “collective, virtual open space” has disrupted almost every industry, redefining how we connect, socialize, and do business. For instance, one can easily create and sell virtual services and goods in the metaverse today, which has ushered in many opportunities. You can earn money as a metaverse DJ, perform in concerts, or sell/rent out your metaverse land. This has now extended to long-term real-world assets like land. A real-world mansion has gone on sale in the metaverse, further blurring the lines between the physical and digital worlds.
Designed by Voxel Architects, premier real estate brokerage company One Sotheby’s International Realty, and NFT firm Meta Residence, the mansion is one of the first real-life NFT estates. Before this, there were only metaverse houses where you could buy virtual property or land that only existed within the metaverse.
The mansion is in Miami’s Pinecrest neighborhood and boasts breathtaking views, unparalleled privacy, and luxurious amenities. The villa has been meticulously designed with attention to every detail, from the custom furnishings to the high-end, modern appliances. It sits on a 47,480 sq. ft lot and has 8,263 sq. ft of interior space, featuring seven bedrooms, nine baths, a walk-in wine cellar, and a separate guest house.
The property, unveiled in early 2022, will be available on April 19th on the Ethereum blockchain through a live auction led by Michael Martinez and Kiki Rutten of Miami-based One Sotheby’s International Realty. Before then, prospective buyers can tour the home virtually in what’s being billed as “the first open house in the metaverse.”
Seeing that the mansion is available both in the metaverse and the real world, the winning bidder will have rights to the brick-and-mortar and its virtual counterpart. Meta Residence One, one of the companies behind the project, will mirror the home in the Sandbox Metaverse, only with more than 40 additional acres for use in commercial, residential, marketing, or gaming projects. This means that besides the villa in Pinecrest, you will have virtual land you can monetize. The starting price for the mansion is $12.9M.
The Pinecrest mansion is not the first real-world asset sold in the metaverse. Since the metaverse became mainstream, real-world digital assets have been a popular investment, with buyers purchasing virtual land and buildings, clothes, NFT collectibles, and tickets to virtual events. However, the sale of this mansion takes things to a whole new level, offering a level of luxury and exclusivity previously reserved for the physical world.
It is changing the metaverse and real estate from property viewing to ownership. The Pinecrest Miami mansion is just the beginning of a new era in virtual real estate, and it will be fascinating to see where this trend leads in the coming years. With virtual reality and blockchain technology becoming more advanced, the metaverse is growing into a place where people can create and experience their unique digital worlds more realistically and even experience the outside world.
