Real estate in the metaverse takes two forms: One is virtual real estate, letting people own and gather on properties that only exist in the online world. The other form is physical real estate that exists offline. The multifamily and student housing development and investment firm started investing in the metaverse three years ago, when COVID-19 kept prospective tenants from touring communities in person. Then, multifamily communities will see the importance of being there, along with their other marketing and communications channels. It is a ‘when’ question.”Scott sees sees Augmented Realty of “AR” (similar to VR but using real-world settings and cell phones rather than headsets) having significant long-term influence, giving marketers exciting new capabilities to reach potential customers.

Source: Forbes March 28, 2023 17:43 UTC