Photo: Courtesy of Decentraland
The real estate industry is bracing for what could be a tough winter: Housing markets are cooling across the country, homebuyers are pulling out of sales with rising interest rates, and agents are being laid off or scrambling to find more resources. Income.
But this week in the Metaverse, where Mark Zuckerberg did a little dance while promising his fellow avatars his legs, the breakdown was more precise. The price of virtual land has fallen by 85% since January. In the year Despite all the hype in this digital world of 2021 — where parcels of real estate can be bought and sold in cryptocurrency, and where someone long ago paid $450,000 to be Snoop Dogg’s “neighbor” — Metavas is a virtual wasteland, unused by Meta workers. (That lot next to Snoop Dogg’s mansion might be worth just $25,000 right now; Forbes.)
Jessica Stoker, a 25-year-old real estate agent (in the real world) and Metaverse consultant, is on the new season. Winter house, has recently observed a meta-market collapse (presumably). Stoker creates a Zillow-like app called Digiland, but she takes her efforts back to the real world, flipping her house. “There is no concrete evidence yet that any of these meters will survive,” she says. We talked about hot people being on the show; What does it mean to be a real estate broker in the metro; And why, now, don’t you advise me to try to build a water park there.
Congratulations on the premiere. How did you fight? Winter house?
Jason [a fellow cast member and male model] He messaged me on Instagram. It was probably just a pick-up line, but he was asking about Metavas. I work in Metaverse, and he was interested in the crypto space. I had a conference that I was hosting—I had speakers like this guy doing Justin Bieber NFTs—and I was like, “Oh, you should come.” He really flew for it.
As if I am the dumbest person alive, you have to put me through what the scale is and why there is real estate for sale.
I would say it is an alternative way to promote your business. Think about when you’re on Instagram or Facebook and there are ads. That’s basically like buying digital real estate, right? You are buying ad space. So real estate in the metaverse – there’s actually a piece of land, but really you’re just hosting experiences and charging people or promoting your business in the real world.
So you don’t really think it’s a place to live?
No, I mean Christmas. I think if we get to that point, this will be the way in the future. But as of now, in the digital world it’s just an advertising space.
When you are a Metaverse real estate agent, who do you sell land to?
I call myself a consultant. I would find buyers and sellers and connect them. I did not improve or list anyone’s land; Because there’s no platform to do that – I’ve been creating a platform to do that, like Zillow Metaverse, called Digiland. I can’t call myself a broker because there is no legal way to do that in the metaverse.
So you don’t set metaversal ground displays.
No – this is actually a very good idea, though. And really, that’s what I tried to do with Digiland. We’d put the assets: let’s say we’re listing a piece of land and there’s nothing – then we’d have a digital designer come in and design what it might look like. such as, Okay, this could be Justin Bieber’s three-story mansion for concerts.. It puts ideas in their head of what could be. My personal opinion is that we’ll find display technology that doesn’t have problems like sunglasses or a chip in the head. These can’t be big, bulky VR headsets.
Is land in Metaverse sold by the square meter?
It’s different in each metaverse, but in Centralland, for example, there are 90-by-90-foot parcels, and you can buy double parcels or triple parcels. And the bigger the package, the higher you can build on it. There are some rules about that.
Are you saying there is zoning in the metaverse?
I would say there is zoning.
Can I build anything I want on my land if it follows the rules? Can I build a water park?
I mean you need to have someone who understands how to build things in a virtual world, like coding and an engineer. So that’s tough. You can’t do that unless you hire someone unless it’s pre-scheduled.
Do you own land in the metaverse?
I won’t, no. I did at one point, but it’s a very, very volatile market, and even when I consult, I still make sure everyone understands that this is a lot of perceived value. There is no concrete confirmation yet that any of these meters will survive. As of now, 70 percent of the land people have bought in Decentraland is down.
So when you’re – or have been – explaining Metaverse real estate to a valued buyer, what’s the price?
Land in the metaverse is going to be a big deal. It’s just a question of which metaverse will be bigger. I don’t think anyone should buy land at all these days. I think that the style that will last here for a long time has not yet been created. It’s a short-term game, and it’s a big risk if you want to buy land for a thousand dollars and you’re hoping it’s going to be, you know, like a hundred thousand or something like that. But in terms of the long-term game, it’s like betting on a social media company in the early 2000s. In say 40 or 50 years, there will be no metaverse of any value, but another Facebook is about to emerge from the metaverse and bring everyone to the platform.
But it seems a lot of people were selling Metavas as something safe – Facebook changed its name entirely.
Unfortunately, when things are really popular, you have to make a lot of money. The people who sell you the dream are money grabbers. There were many people promoting NFT and promoting real estate in the metaverse because they benefited from it; Own those NFTs and if you promote them they will go up in value or because they bought land they want to promote them so other people will value them more so their value will increase. It’s a weird time because there’s a lot of noise and a lot of manipulation.
Are you still consulting in the metaverse?
I’m actually just focused on real estate in the real world. I wanted to be described as the Queen of the Metaverse because of my application, and I still definitely want to be that thing, but I moved to real estate because there is a lot more opportunity because the market is adjusting, a collection of properties that are anxious to buy. We’ve been making a lot of money flipping them. So that’s where I spend most of my time now.
Have you ever had a paranormal experience, and what was it like?
Paris Hilton did this concert; Her avatar DJed in the Metaverse on New Year’s Eve. I joined to see what it was like. Basically, there is no 3D format. You’re looking at your computer screen, it’s blinking a lot, and you’re basically just typing to people. If their microphones are hacked, you can hear them. But of course it’s just… people just have it way over their heads, like words. It’s like The Sims.