NFTs are not the future but the present of it all! From fashion to artwork, and now onto real estate, the cryptocurrency tokens are conquering every aspect of human life. And proof of it is the sale of a virtual counterpart of an 11,000 sq ft, seven-bedroom, nine-bathroom luxury mansion that is currently under construction in Miami. The NFT home is christened ‘Meta Residence One’ and is a joint venture by NFT firm Meta Residence and One Sotheby’s International Realty alongside virtual reality experts Voxel Architects. It is set to be auctioned this year, with the winning bidder getting ownership to both the real-life Miami home and its virtual equivalent.
Commenting on it, Meta Residence founder Gabe Sierra stated that the virtual abode is located in the Sandbox in the Metaverse, while the real-life home is on a property measuring over 1 acre in “one of Miami’s most sought-after neighborhoods.”
Remarking similarly, Voxel Architects said, “We’ve recently partnered with Meta Residence and ONE Sotheby’s International Realty to carry out a unique architectural project that unites the Metaverse and the physical world to create a new, revolutionizing experience.”
The firm further added, “This is the first time someone attempts such a project, and it represents a huge step towards creating experiences that blur the line between the Metaverse and the real world.” The NFT home will serve as an extension of the real-world home, thus allowing the owner to host events and meetups with guests from around the world.
It will be sold by ONE Sotheby’s through auction, with the entire transaction being conducted using Ethereum technology and blockchain. While the real-world mansion is expected to be constructed by the end of 2022, its Metaverse counterpart will be listed for sale at One Sotheby’s in the first quarter of the year.
Well, real estate can’t get any more exciting than this!