Virtual Real Estate Sales is now a thing! 🏞️🏠🏗️
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Virtual Real Estate Sales is now a thing! 🏞️🏠🏗️
Part One is all about What We Know in our two-part trend report.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
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ICYMI in the last 10 weeks we covered:
Since Facebook went Meta... Six other OGs made metaverse moves!
VCs coming in Hot, spending big on AR & VR startups! Into the Metaverse we Go!
OpenSea hits $25 Billion in GMV! Now Coinbase wants in on NFTs too!
When OG Consumer Brands start playing the NFT game too!
When Music Crashes the Metaverse Party!
It's 100% Crazy! But Virtual Real Estate is Here. To the Tune of $30 TRILLION!
Everyone's gunning for OpenSea, the $13.3B NFT Marketplace gorilla in the room!
Social Casino SMS Text Gaming is FIRE!
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Virtual Real Estate + Metaverse 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ so what exactly is virtual real estate anyways?! ]
On Metaverse Real Estate
- thanks joel!
A plot of land in a metaverse-based project like Cryptovoxels, Decentraland or Sandbox is a plot where you can express anything digitally. Think of it as a fixed space where users can customise a digital experience.
This could be an art gallery-like Sotheby's in Decentraland. Or it could be a place where digital concerts are performed like Snoop Dogg has set up on Sandbox.
Land is a digital plot on which you can make anything that is visually expressed and developed.
>> [ Atari is building a casino in Decentraland! ]
Atari Builds A Las Vegas-Style Casino In The Metaverse
- thanks jeff!
The 1972-founded company has, a generation or two later, become an active participant, developer, and digital land-owner across the Decentraland metaverse, along with experimenting in other virtual worlds.
At the core of Atari's digital world ambitions are the plots of lands the company has leased on an initial two-year term inside the virtual land and metaverse platform Decentraland’s Vegas City neighborhood.
As an anchor tenant, Atari plans to build and open a virtual casino in Vegas City featuring Atari-themed games. Inside, players can explore the branded casino and search for the gaming company’s exclusive wearables located throughout the casino.
To counter high gas fees on the Ethereum blockchain, the project will use Polygon’s so-called “Layer 2” solution.
>> [ Bored Ape gets into virtual land sales too! ]
Bored Ape startup plans virtual land sales, APECoin token to kickstart metaverse gaming project
- thanks ryan!
Yuga Labs, the business behind the heavily hyped Bored Ape Yacht Club NFT collection, is hoping to raise hundreds of millions of dollars by selling off virtual plots of land.
Yuga’s grand metaverse plan will kick off with the sale of virtual land in the form of NFTs, which will be linked to plots in the metaverse game. These plots will contain distinct traits such as natural resources, artifacts, and in some cases rare characters.
In total, 200,000 plots will be distributed across two sales in March and August this year — and Yuga hopes to raise $178 million (in addition to secondary sale proceeds) from each sale.
The company will retain a portion of the virtual land for itself. Animoca Brands, a digital studio that's also building a racing game with Yuga, will be involved in the launch, per the document.
>> [ the government of South Korea invests $187M into its metaverse project! ]
Seoul’s Local Government Builds A Metaverse Counterpart
- thanks jeff!
South Korea is investing $187M in a metaverse project as part of what the country calls a “Digital New Deal.”
The Seoul Metropolitan Government (SMG) is becoming the first local metropolitan government in Korea, even the world, to create and develop a high-performance metaverse platform for its own use.
The metaverse will encompass all areas of municipal administration, such as economic, cultural, tourism, educational and civic service, and will launch in three stages starting form this year.
Recognizing the metaverse’s potential to create jobs and foster a sense of community virtually, the platform will function as a virtual city where by 2023, the local government hopes to have Seoul residents attending meetings as avatars at the virtual city hall or filing complaints all through their platform, eliminating the need to go in-person.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for Part Two in our report.
We’ll discuss on how to position ourselves as a new player in the Virtual Real Estate + Metaverse 🔥 space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.