You can now not only own physical land but you can also own the virtual equivalent of this same land as an NFT. ON January 7, 2021, Meta Reality Realms introduced its first ever NFT collection of “real-world” properties.
You will now be able to take your real estate on Earth that you own and have an opportunity to turn that into another asset type called NFT. An NFT is a non-fungible token. The owner of the physical land will be able to own not only the physical deed or title but also the virtual warranty deed or title for the property in the virtual world.
This allows investors to turn real-world real estate into a dual deed holding in both the real and virtual world. Each deed allows the investor to not only own the digital art but also the blockchain-based NFT ID, which ideally will unlock endless possibilities in the future as AR/VR develops. Future Augmented Reality Zones sites will exist in both the physical world (as we believe it to be) and the virtual world. This is some exciting stuff.
Simultaneously with cryptocurrency, land will be a critical asset to own in the future—virtual land and physical land.
Aaron Beltran, the founder and CEO of Meta Reality Realms explained, “our NFTs are backed by real-world assets that anyone should be thinking about investing in, as the future of augmented reality gets closer.”
Meta Reality Realms is the first company to virtualize real land ownership on the blockchain. Meta Reality Realms create NFTs backed by real-world properties that allow owners to turn the “real world” properties into a virtual playground.
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