Majority of us know that Metaverse is a virtual environment identical to those shown in Hollywood films such as Ready Player One and Gamer. Top worldwide companies, on the other hand, are adopting inspiration from Metaverse and leveraging the technology to solve real-world problems.
Bamboo Real Estate and Construction Limited, a subsidiary of the bamboo group of companies, is the first African real estate company to assist investors in acquiring tangible properties in the Metaverse. Bamboo Real Estate recently teamed up with HouseAfrica, a leading Blockchain-based property record system, to make the process of land ownership as simple as possible. The company’s real estate properties have been mapped on an earthlike Metaverse as a result of this relationship, with each property having a 360-degree video depiction minted on the Blockchain as an NFT.
Property owners will obtain both digital representations and certificates of ownership registered and kept on the Blockchain as Non-Fungible Tokens (NFTs), according to HouseAfrica’s founder, Mr. Nnamdi Uba.
He further mentioned that these NFTs aid in the transfer of property deeds, the tracking of property prices, and the acquisition of loans, since HouseAfrica has partnered with major financial institutions to recognize these NFTs as collateral for loans.
In the Metaverse, investors can follow or check the legitimacy of these properties and virtually inspect the digital depiction from anywhere on the planet.
Mr. Oseyomon Ighodaloh, the CEO of Bamboo Group, believes that embracing this technology would provide additional options for their clients throughout the world as they work to tackle difficulties that investors and landowners confront.
He stated that a larger percentage of their clients are ecstatic about the new technology, while those who are unsure about its significance are being educated on how it will benefit them as real estate investors and owners.
Bamboo Real Estate and Construction Limited is the first African-based real estate company to enter the Metaverse, and this new technology will help them maximize prospects for their clients in Nigeria and beyond.