First-ever ‘MetaReal’ Mansion Built in Miami to be Sold Using NFT

Together, ONE Sotheby’s International Realty and Voxel Architects, along with general contractor and NFT collector Gabe Sierra, are introducing the first-ever ‘MetaReal’ mansion that includes a real-world home and a virtual counterpart in the metaverse. The virtual home will live within The Sandbox metaverse, a community-driven platform where creators can monetize voxel assets on the blockchain. The buyer of the NFT asset will also acquire ownership rights of the physical home, set to be completed in Miami in Q4 of 2022. This is the first time something like this has been done. The home in Miami will be built on a one-acre lot in one of the city’s most prestigious neighbourhoods. It will span 11,000 square feet and include seven bedrooms and nine bathrooms. The virtual property will exactly mirror this, and Voxel Architects is helping to create it. The ‘MetaReal’ Mansion will be auctioned off in 2022 at a yet-to-be-disclosed reserve price. The exclusive sales agent for the property is Michael Martinez of ONE Sotheby’s, who plans to execute the transaction on the Ethereum blockchain. “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 around the world,” Meta Residence founder Gabe Sierra said. “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.”  NFTs as they pertain to real estate are relatively new, and for those who have a hard time making sense of the concept, you’re not alone. In short, the metaverse is a virtual world and there are more than one. Facebook, for example, hopes to be the largest. The tech company changed its name to Meta earlier this year.