LennyR
Active VIP Member
Vancouver-based TerraZero Technologies wants more people investing in a virtual crib, which can only mean one thing: metaverse mortgages.
With people (apparently) rushing to buy property in the virtual world, a growing number of companies are competing to create desirable investment opportunities to meet the demand.
…which brings us to TerraZero’s first-ever metaverse mortgage approval.
A mortgage where? In a 3D virtual world called Decentraland of course (owned by digital real estate firm Metaverse Group), where users can buy virtual plots of land in the platform as NFTs via a cryptocurrency called MANA, which uses the Ethereum blockchain.
(Yeah, it’s a lot)
• Prospective clients can now also use a new service by TerraZero to explore listings and finalize the brokerage process, in a process that will mimic searching for and buying property in the real world.
Unlike a mortgage, TerraZero will own the virtual land until the buyer pays off the mortgage in full. However, buyers are entitled to “deployment rights” after accepting funds, which lets them build on their virtual land, host virtual events, and open virtual stores.
Why it matters: Sales of metaverse real estate exceeded a whopping US$500 million last year and are projected to double this year.
TerraZero’s CEO said financing options will expedite the development and adoption of the metaverse, a concept that still leaves many scratching their heads.
What the hell is wrong with peoples heads . We are truly screwed .
With people (apparently) rushing to buy property in the virtual world, a growing number of companies are competing to create desirable investment opportunities to meet the demand.
…which brings us to TerraZero’s first-ever metaverse mortgage approval.
A mortgage where? In a 3D virtual world called Decentraland of course (owned by digital real estate firm Metaverse Group), where users can buy virtual plots of land in the platform as NFTs via a cryptocurrency called MANA, which uses the Ethereum blockchain.
(Yeah, it’s a lot)
• Prospective clients can now also use a new service by TerraZero to explore listings and finalize the brokerage process, in a process that will mimic searching for and buying property in the real world.
Unlike a mortgage, TerraZero will own the virtual land until the buyer pays off the mortgage in full. However, buyers are entitled to “deployment rights” after accepting funds, which lets them build on their virtual land, host virtual events, and open virtual stores.
Why it matters: Sales of metaverse real estate exceeded a whopping US$500 million last year and are projected to double this year.
TerraZero’s CEO said financing options will expedite the development and adoption of the metaverse, a concept that still leaves many scratching their heads.
What the hell is wrong with peoples heads . We are truly screwed .
They never knew
