Web3 is considered the next iteration of the internet - a digital space that we can enter using Virtual Reality (VR) or Augmented Reality (AR) technology. It is now even making it possible to buy real estate in the virtual world.
Who Can Buy?
Anyone can invest in real estate properties in the Metaverse, which allows people to acquire part ownership if the cost is high.
"It also opens up the world of real estate investment to less wealthy individuals. From corporate boardrooms and mainstream media to housing, discussions of the Web3 go abound,” says Abhijit Shukla, CEO of Tarality, a blockchain company.
For example, if an individual can't afford to buy a $250,000 apartment in the Metaverse, the person can opt for part ownership. It will also allow the person to trade for an equivalent fraction of another property at any time.
He adds that turning real estate into tokens allows investors to use concrete assets to create readily liquefiable portfolios on a blockchain.
How Can You Buy?