As the Metaverse evolves on multiple fronts, companies, entrepreneurs, and everyone in between will look at how to take advantage of this new Gold Rush.
MetaSpace Real Estate Investment Trust (MREIT), is one of those emerging companies. The Canadian-based firm is the first tokenized metaverse real estate investment group with a goal to expand user accessibility for investing in metaverse digital land.
The metaverse industry is expected to be valued at over $1 trillion in the next few years, with the rate of active metaverse users having already increased tenfold between 2020 and June 2021. As the metaverse evolves, like all technological innovation, it brings new opportunities.
“What most people don’t understand right now is what the metaverse is or will become, says Eric Klein, the founder and CEO of MREIT. “As we continue into this web3 era, everything we do will be integrated virtually; work, events, concerts, socials, and of course, how we define investments. Just look at the adoption of Zoom during the global pandemic or how crucial social media has become for a successful business strategy.”
Recently, MREIT has launched its first building headquarters in Decentraland, featuring four stories with three dedicated floors for nonfungible token showrooms allowing clients to visit, customize, and showcase their products while socializing in a virtual community. To kick off MREIT’s HQ in Decentraland, it will be hosting a launch party in Decentraland on March 17, 2022, with the Miami chapter of the Bored Apes Yacht Club.
Much like traditional real estate investment trusts, MREIT focuses on acquiring, leasing, and managing high-traffic real estate. The company aims to reduce entry barriers for newcomers in the crypto community and provide desirable real estate spaces for users, brands, and companies entering into the explosive digital land economy.
“The real opportunity right now is within the retail and entertainment space. MREIT allows these brands to enter the metaverse with full training and support,” Klein says. “Ultimately, our goal is to help brands develop their concept from the ground up, which includes NFT development, virtual clothing or items, and allowing their clientele to purchase directly within their virtual store, should they choose to.”
MREIT will be releasing three million tokens this March 2022. Currently, transactions are done over the Ethereum blockchain (MREIT ERC-20). Read the whitepaper here.