During the global shutdown due to the COVID-19 pandemic, the world realized that the future is digital. As people were working remotely and relied heavily on digital assets, most of the business organizations were performing their routine business activity digitally.
The real estate industry is also evolving towards this digital world. Savvy buyers, as well as sellers, are getting interested in digital real estate. It is a concept where everything you see online is digital assets which worth money. But digital real estate is a concept where people can buy or sell virtual properties on the digital market.
Equity crowdfunding and blockchain are playing a prominent role in the digitization of the real estate world. crowdfunding has disrupted the old rules and democratized investment opportunities. Similarly, blockchain ensures the security, clarity, and efficiency of transactions in the digital real estate market. The technologies like virtual and augmented reality are changing the way we handle real estate in the future.
Some companies, like Decentraland, are allowing the investors to purchase virtual land and invest in the metaverse. The adoption of non-fungible tokens (NFTs) and blockchain technologies will bring the virtual real estate revolution to the next level.