REAL ESTATE NEWS — “Digital real estate” can include just about anything privately owned of value on the internet or on an electronic device. Web pages, websites, domain names and online content assets may be considered digital real estate. “Virtual real estate” is a kind of digital real estate that pertains most often to fictional graphical representations of land, landscapes, buildings or cityscapes on video games, the metaverse or on portions of the internet that provide some kind of simulation, digital twins of real-world real estate or fictional new worlds, parts of which can be purchased, owned and re-sold.
These newer kind of digital assets are getting more and more intertwined with the newest kinds of digital money, including blockchain cryptocurrencies like Bitcoin or NFT Non-Fungible Token smart contracts on the Ethereum blockchain, which are now hot, hot, hot! Virtual real estate can now often be purchased with blockchain cryptocurrencies, may be connected to the blockchain, and some of the coding may actually reside on a blockchain itself. Yes, the money of the future is very programmable, containing sophisticated self-executing agreements that can be self-contained little automated businesses and/or games. It’s already here today, being programmed by coders around the world using the latest programming languages, such as Solidity. Occasionally more profitable than physical real estate, some NFTs have sold for up to $90 million+.
More and more investors are getting in on the opportunities after learning that virtual real estate may sometimes have potential to rise in value much faster than traditional real estate investments. Some of the most popular virtual real estate websites and platforms include: Second Life, Next Earth, Earth2, Superworld, Sandbox, Roblox, Axie Infinity, Upland, Cryptovoxels, and Somnium Space. For those who are into arts and collectibles, NFT websites and platforms include Cryptokitties, OpenSea, Rarible and SuperRare. More NFT marketplaces can be found at CryptoPotato.
In 2005, the term “virtual real estate” was more widely searched, but today “digital real estate” has taken the lead, according to Google Trends.
For those who prefer to keep their feet grounded in traditional real estate, but who also appreciate the help and convenience of technology, a virtual tour is sometimes provided by home sellers so that the prospective buyer can see the interior in three dimensions, almost as if they were standing there, looking around in person. The Loft Blog walk-through tour videos have been providing a similar service that also includes the additional benefits of sound and natural motion walk-through of the floor plan.
As we mentioned, NFTs are today all the rage. NFT stands for Non-Fungible Token, which basically means that it’s a one-of-a-kind digital asset that belongs to you and only you. The most popular NFTs right now include artwork and music, but can also include videos and even tweets. Combining investment and art with a mind-boggling level of creativity, they’re taking over arts, collectibles, music, video — even mortgages. Entar® Real Estate and Investment Technologies (part of the Loft Blog / Corey Chambers real estate family) recently created our own in-house NFT based on the Entar Coin blockchain. We plan to announce, within a matter of weeks (perhaps just a few days), our first real estate NFT, a type of digital real estate. Remember that blockchain investments like Bitcoin have risen 8.9 million percent in 12 years. You won’t want to miss out on the Entar Real Estate NFT launch coming soon. Just like how the internet revolutionized communication, media and commerce, these new virtual realms and digital technologies are limitless. Anything is possible!
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.