Given that NFTs have no physical form, you may wonder if investing in one is worthwhile. But what if it had a physical equivalent? Not for art or everyday items (such as the trashcan NFT, which sold for $25,000), but for a mansion in which you can actually live.

The "MetaReal" mansion is the result of a collaboration between ONE Sotheby's International Realty, Voxel Architects, contractor, and NFT collector Gabe Sierra.

Digital and physical

It will be physically located on a one-acre lot in Miami. The 11,000-square-foot home will have seven bedrooms and nine bathrooms and is expected to be completed in the fourth quarter of 2022.To obtain the house, you must first purchase the ownership rights to its virtual NFT version. Although the price has not been disclosed, the first-ever NFT house sold for $500,000 last year and did not include a physical residence.

According to Forbes, Michael Martinez, executive sales agent for the NFT and property at ONE Sotheby's, intends to complete the transaction on the Ethereum Blockchain.

Ethereum is a technology database run by the community that powers cryptocurrency. QTUM, NEO, and Cardano are other blockchain technology platforms.

Place in the Metaverse

Gabe Sierra, the Meta Residence's founder, claims that the property blurs the lines between the physical world and the virtual metaverse. "The metaverse counterpart of the home will serve as an extension of the real-world home, allowing the buyer to host in-home meetings, events, and parties with guests from all over the world," Sierra tells Forbes.

"By mimicking the real-world environment of the buyer, we are creating an experience that blends the lines between metaverse and reality. Imagine fighting off a dragon, traversing over a mountain range, and finally arriving at your metaverse property, where you are greeted by your friends who are visiting to check out your new Bored Ape NFT. After interacting in your virtual living room, you exit the metaverse, and you are now sitting inside that same real-world house. That is the experience we are creating.”

But why would you require a "home" in the virtual world? Mark Zuckerberg, the founder of Meta, formerly known as Facebook, described the metaverse as "an embodied internet that you're inside of instead of just looking at."

You can socialize, play games, interact with people from all over the world, and do other things you already do in real life in virtual reality.So, if you buy the NFT Miami home, you'll have a place to entertain friends and family just like you would in real life.


Jul 24, 2022
Digital Lifestyle

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