Publicly traded blockchain and cryptocurrency investment firm Tokens.com has announced a landmark deal to acquire a 50% stake in real estate firm metaverse Metaverse Group in a deal worth more than $ 1.6 million. .
Tokens.com is expected to capitalize on the purchase, purportedly the highest purchase of a virtual real estate company, through the development of asset opportunities for public retail investors seeking to gain greater exposure to non-fungible tokens, or NFTs, and decentralized finance, or DeFi. , assets.
Metaverse Group operates a service similar to a traditional real estate firm insofar as property acquisition, development and management, as well as marketing and promotion services. However, the group differs wildly due to its adoption of blockchain technology, games, NFT, as well as a multitude of other technologies that make up the meta universe.
While the true definition of the metaverse is still evolving towards a unified consensus, at least for now, the technology is seen as a three-dimensional virtual environment where users can interact, socialize, and progress. Fornite and Roblox have given us a glimpse of this world, as has Ernest Cline's novel Ready Player One.
The Metaverse Group owns a collection of well-regarded land parcels and properties in some of the world's most popular metaverse games - Decentraland, The Sandbox, and Somnium Space, among others, with its global headquarters located in the Crypto Valley of Decentraland.
Andrew Kiguel, CEO of Tokens.com, shared some thoughts on the potential impact of the space:
โThe Metaverse is a game changer in the way advertisers and brands market their products. As more people congregate in these virtual cities, the earth becomes more sought after for its ability to reach a new global demographic. Metaverse Group has the potential to become a major homeowner and developer using the same strategies that physical real estate managers use. "
Related: The Metaverse, the game to win and the new economic model of the game.
Last month, tech giant Facebook advanced on its intentions to build a metaverse with the launch of a $ 50 million research and development fund. The company expressed its ambitions to build a complete virtual world that includes a variety of products and services within a decade.
To execute this virtual vision, the firm is seeking 10,000 new employees from the European Union in roles ranging from specialist engineers to virtual architects.
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