- To give consumers proven ownership of virtual land inside virtual worlds, Web3 metaverse real estate uses nonfungible tokens, a crypto asset that uses blockchain technology.
- Both individual listings from users and aggregated listings from marketplaces like OpenSea, LooksRare, and OpenSwap are supported by Metahood.
Even while digital worlds and the metaverse have grown in popularity over the last few years, using Web3 decentralized apps to purchase, sell, and digital exchange land is rugged. Metahood Inc. recently announced three million dollars in funding as it entered open beta to become a platform for trading and finding real estate.
With participation from Volt Capital, Flamingo DAO, and Neon DAO, the seed fundraising round was led by the cryptocurrency venture fund 1confirmation. Additionally, the company attracted significant angel investors, such as Sébastien Borget, co-founder of the metaverse startup, The Sandbox, and John Crain, co-founder of the NFT marketplace SuperRare. Also, Brian O’Hagan, growth lead for the company Sorare, which makes digital collectible card games joined the list of angel investors.
Metahood founder Gwendall Esnault said, “Our vision is to make the open metaverse more accessible, interoperable, and easy to navigate. Our first goal is to build the go-to platform for trading digital real estate. Trading real estate is different from trading other types of digital assets. When it comes to real estate, context is important.”
To give consumers proven ownership of virtual land inside virtual worlds, Web3 metaverse real estate uses nonfungible tokens, a crypto asset that uses blockchain technology. The tokens account for ownership of land plots in various virtual worlds.
As a result, they can be purchased and traded on NFT marketplaces like OpenSea and LooksRare. Ensault countered that these websites lack context when discussing land plots. When people look at a listing on a standard trading platform, they don’t know what they’re getting when purchasing a piece of digital land.
Ensault stated, “We believe that people should be able to make more informed decisions when trading land, rather than just considering the floor price or rarity of the asset. It is currently difficult to obtain information such as the location, surroundings, and nearby landmarks of digital land. We have made it easy.”
Users of the Metahood platform will be able to view a virtual map that shows the locations of the digital real estate in well-known metaverses, giving them a sense of the land’s placement concerning nearby areas. This is comparable to checking a listing on Zillow before making a purchase or getting a Google Maps.
Currently, the platform supports NFT land in well-known metaverses, including The Sandbox, Decentraland, and the Otherside of the Bored Ape’s Yacht Club. Ensault stated that the business is concentrating on launching even more metaverses soon.
Both individual listings from users and aggregated listings from marketplaces like OpenSea, LooksRare, and OpenSwap are supported by Metahood. With the ability to choose where in their virtual worlds it will be located and what neighborhoods it will be in, users will have a wide range of options for buying, selling, and trading their virtual land.