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The metaverse real estate market is rapidly growing

The concept of the metaverse and digital real estate go hand in hand. According to the latest report, the metaverse real estate market share is expected to increase by $5.37 billion from 2021 to 2026, at a CAGR of 61.74%. Let’s find out why the market is so fast-growing and how real estate companies can step into the metaverse with Cappasity NFTs.

Metaverse Real Estate Market by End-user and Geography — Forecast and Analysis 2022–2026

North America will be a key region for the metaverse real estate market — a whopping 41% of the market’s growth will originate from this area during the forecast period. The US and Canada are the key countries for metaverse market growth in real estate within North America. The market will grow in this region faster than in South America and MEA.

The growing popularity of mixed reality and cryptocurrency is one of the key factors driving the global metaverse real estate market. “The evolution of VR into a more mixed reality creates readability in virtual spaces by decoding tags and annotations,” state the authors of the report. The users of metaverse platforms can buy real estate land and then either sell or lease it to others. “Additionally, the growing application of cryptocurrencies such as NFT, bitcoin, and Litecoin in purchasing digital assets is creating interest in end-users, especially enterprises. For instance, such cryptocurrencies offer greater accessibility to the virtual real estate sector. Instead of visiting a physical site, buyers can instantly visit metaverse virtual plots to purchase virtually,” explains the report.

Here at Cappasity, we also see great potential in NFTs for the real estate market. We’ll soon launch a solution allowing hospitality real estate players to create NFT-based loyalty programs for their guests. A Cappasity NFT differs from other digital assets since it contains not only photos and videos, but also text (e.g. a hotel’s history or suite’s detailed description); immersive content like an interactive panorama of a suite; and VIP perks and benefits, like personalized discounts, invitations to VIP events, and more. Hotels can add new content to NFTs even after their customer gets the token, which allows them to use Cappasity NFTs as a new customer communication channel.

This video demonstrates a Cappasity NFT for a hotel:

To create an NFT-based loyalty program, contact our team at support@cappasity.com.

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Bring an in-store browsing experience to online retail with Cappasity, the first complete 3D product imaging solution for your website, mobile app, VR and AR applications.

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