Dubai is thought to be the most important place for blockchain and Metaverse: LandVault CEO Sam Huber LandVault, which is the biggest Metaverse real estate company and helps big brands get into the Metaverse, has finished building 100 million square feet of virtual real estate on platforms like Sandbox and Decentraland.
This includes work for big brands like Mastercard, L’Oreal, Heineken, and Standard Chartered Bank, as well as Web3.0 projects like World of Women, MAYC, and AlienBoy. LandVault has built the equivalent of 1,300 football fields worth of virtual land and is leading the way in making a virtual world that is growing quickly. The company is responsible for about 10% of open Metaverse completed experiences, which are considered to be live builds with a playable experience.
The company started out in gaming. It used to be called Admix, and it built technology that allowed brands to place their products in games. Admix was started in 2018 by Sam Huber. It has raised $37 million (Dh135.90 million) from top venture capitalists (VCs) and works with over 300 top brands like McDonald’s and Calvin Klein to help them use product placements to promote their brands inside games.
This year, Huber decided to move the company away from games and into the Metaverse. He bought a Metaverse studio and changed the company’s name to LandVault to offer brands and Internet Protocol (IP) that want to enter the Metaverse a complete solution, from renting land to building it and making money from it.
A report by McKinsey & Company says that LandVault is on the cutting edge of building an ecosystem that could be worth up to $5 trillion (Dh18.37 trillion) by 2030.
The same report says that more than $120 billion (Dh440.76 billion) has been invested in the metaverse in the first five months of 2022. This is more than double the $57 billion (Dh209.36 billion) that was invested in the metaverse in the first five months of 2021. Venture capital, private equity, start-ups, and well-known brands are all trying to take advantage of this opportunity.
Landvault.io is unique because it uses its own technology to make money from experiences like product placements and online shopping. Overall, brands work with them because they help them build their business in the Metaverse. It’s not just a marketing campaign.
Dubai and the Gulf Cooperation Council (GCC) countries have shown a lot of interest in making digital twins of their real estate, which could be useful for residents and also lead to a new wave of digital tourism. They are working with a local real estate company and attraction park to bring these into the Metaverse.
Metaverse is the next generation of the internet. It is an immersive, three-dimensional (3D) internet that makes integrations much more complex and interactive.
In the next 10 years, it will bring in billions of people and change how we talk, shop, play, and do business online. As a result, some ecommerce will happen in the metaverse instead of the traditional internet.
Companies, shops, and retailers need to get ready for this and learn how to use this new channel as soon as possible to get ahead of the curve.Land prices are mostly based on supply and demand and speculation, but the real value of a piece of land is how much money you can make from it.
If you own land, you also own the business plan that goes with it.
More and more investors see how important it is to own a piece of the Metaverse so that they can do business there in the future.
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