Since Facebook changed to Meta and launched its Meta Universe, it has impacted virtual properties. People can own virtual property that can make money in a competitive universe. Thousands of people have bought land in virtual universes. Despite all this, many people have blamed the crypto crash and inflation for the slow development of the Metaverse.
Prometheus is one of the companies that has tried to incorporate real estate and cryptocurrency. Their greatest success story in the field was in 2021, when they developed and sold villas in Madeira, Portugal. The project was sold using crypto, making it the first time a company and its clients used crypto to complete real estate transactions. Additionally, the company is now expanding its wings to the virtual world. They have launched their next big project, “The Royal Blockhouse.”
The project will provide housing services to Kong City in the Metaverse. The company is collaborating with Cyberkongz and investors in the Metaverse to make the program a success. The company’s CEO, Priyesh Patel, shared his views and information on the project. According to him, The Royal Blockhouse project is trying to combine two aspects of blockchain technology:
- They are trying to help people own NFT assets. They want to show that people can own virtual property and sell or rent it out to make a passive income.
- Building infrastructure in the Metaverse. This project is meant to show investors this is a good idea and spark interest in infrastructure development in the Metaverse. Since the development of the Metaverse, nothing has been done to develop the alternative universe.
The entire system will be on the blockchain because they are trying to spark more interest in possible activities through technology. They aim to lead the way in adopting technology in the real estate industry.
Some of the functions included are:
- Rent payment
- Fees and payment records used in the project.
Some of the services The Royal Blockhouse will offer include event space. Many companies, including entertainment companies, will need event space to offer their services. In the next few years, we will see virtual meetings and concerts in the Metaverse. The other services are housing services, both commercial and residential. This will be among the earliest real estate projects in the metaverse real estate. The entire project is fully compliant with EU regulations. This is an eye-opener to investors from all over the world, including Arica. They could invest in the Metaverse and make thousands of dollars.