Pop singer JJ Lin spent $123,000 on digital property in Decentraland. Are you gonna purchase Metaverse real estate?

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You will probably be surprised to know that technology in real estate has been used extensively since the beginning of the World Wide Web. I saw a tablet just for real estate agents in 1990. That’s 20 years before the Ipad.

As for the metaverse, well 3D tours became ubiquitous with the Matterport camera which we adopted very happily. I designed and had installed a network system in my company using our own proprietary software with the help of Microsoft and Real Edge in 1992. I wasn’t alone although we were rather exceptional then.

The real estate industry has been with technology every step of the way. The metaverse will be no different but I’m wondering if it’s going to take a little longer. Here’s why.

1st of all, the metaverse has to be capable of our needs. While you can feel like you’re hitting a golf ball with an Oculus, is it exactly the same as being on a golf course? Not yet. That’s the problem. It’s really not supposed to be right now and won’t be for a while yet. You see, the thing about homes is that they’re an emotional purchase. No matter how good it gets, until the metaverse duplicates exactly how you feel when you walk in that door, it’s too limited to fully take over. Someday but not for quite a while.

Meanwhile, yes we’ll use it. But it will be more of a novelty initially. Let’s see what happens over the next 5–10 years.

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