Construction of a Miami mansion will coincide with the creation of its identical counterpart in the virtual world to form a first-of-its-kind “MetaReal” mansion, according to a press release.
The physical mansion paired with its virtual twin is the latest example of creators taking to the virtual world to construct their own reality in the metaverse. Using NFT technology, the metaverse is an online network of 3D virtual worlds where users can conglomerate via their digital selves — and their digital real estate.
The MetaReal deal, announced this week by ONE Sotheby’s International Realty, Voxel Architects and Meta Residence, means the buyer of the NFT asset will also acquire ownership of the physical home, expected to be completed by the end of 2022.
“We are building a rare lifestyle experience that blurs the lines between the metaverse and reality,” said Gabe Sierra, president of the joint venture. “Never before has a project like this been delivered, and we are proud to offer the buyer of this NFT a once-in-a-lifetime opportunity to own the first MetaReal mansion ever created.”
The 11,000-square-foot home and its virtual version in The Sandbox metaverse will feature seven bedrooms and nine bathrooms. Michael Martinez with ONE Sotheby’s is the exclusive sales agent for the project and plans to execute the transaction on the Ethereum blockchain, the release noted.
“Being able to leverage my expertise to pair a homeowner with real and virtual property is something I never imagined being a part of; it’s exhilarating,” said Martinez. “We look forward to finding a buyer for this spectacular property and being involved in a momentous deal in this new era of homeownership.”
The joint venture offering the MetaReal mansion has acquired space in the metaverse for future real estate endeavors, the press release said.
“We believe that the metaverse will play a role in the future of real estate in one way or another,” said Daniel de la Vega, president of ONE Sotheby’s International Realty. “This deal represents a bold move to support our clientele where the real and virtual worlds converge.”