If you’re considering selling your home, having a stranger tour your home can be confusing, invasive, and time-consuming. For homebuyers, endless home tours can also be a headache. The complexity of investing time and effort to schedule and attend multiple trade shows, dealing with potential disappointments when a property doesn’t meet expectations, and evaluating and comparing different homes to make the right decision need to navigate.
We’re living in the early days of the Metaverse, so why do we still have to drive across town to check out properties? It was a problem.
“The way we buy and sell real estate is very old-fashioned in some ways,” Park said. refresh miamiFrom MLS to Zillow, Park estimates that most technology solutions are Web 2.0 at best.
“Watching the beginning of the web3 movement, we saw that the web3 environment also has the transformative power to change the way we look at real estate. Case in point: the fact that people were buying invisible homes during the pandemic.
Last year, Park launched a Miami-based development with a team of 10 people. propiverse: An interactive virtual homebuying ecosystem that facilitates the trading of real-world real estate and digital twins. The idea is that through Propyverse’s platform, which is set to launch in the coming weeks, homebuyers will be able to tour their homes and neighborhoods from the comfort of their own homes using their Oculus device or computer.
Park describes the benefits of metaverse tools like Propyverse: The startup will profit from the transactions made through its platform.
Due to the initial cost of creating digital renderings of homes, Park initially expects most homes on the platform to be at the high end of the market. “I think adoption from that segment will be rapid in the short term,” Park said. But in the long run, he argued, this would help a wider range of homebuyers. Keeping you away from or reducing the likelihood of discriminatory practices of realtors.
Miami is the first city to have Propyverse active. Park shared his two main reasons. The first is that he considers Miami his Web3 capital of the world. And second, many people who buy property in Miami actually live far away. Propyverse helps save time in the home buying process.
Another key element of the Propyverse platform is the ability to purchase swaths of Digital Land. Digital “landlords” can then generate revenue by renting out their virtual property. For example, if the actual owner wants to use it to sell his property. “It creates an interesting dynamic,” Park says of the digital economy Propyverse is creating. There are also various gamification features such as “play to earn” rewards for participating in virtual open houses.
The Propyverse marketplace is powered by the $PRO digital asset, a coin issued by Miami startup Propy. Park shared his excitement about working with Propy, especially since Propy donates some tokens to help get his Propyverse back on track. “We wouldn’t be here today without the support of our Founder and CEO, her Natalia Karayaneva, and the tokens Propy donated to this initiative,” Park shared.
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