UK property portal becomes first to join the metaverse with purchasable NFT land

MoveStreets, the property portal designed for the mobile generation, has become the first UK property portal to enter the metaverse with “immersive” virtual home viewings.

Purchasing its very own digital land on The Sandbox metaverse, joining the likes of Atari, Adidas, and OpenSea in a move that could change the way consumers search and view homes within the UK property market.

The metaverse is essentially a simulated embodied internet that can combine elements of blockchain, cryptocurrencies, social media, virtual, and augmented reality to create a digital world where users can interact with others and the surrounding environment.

As for the NFTs available for purchase, these non-fungible tokens act as a plot of land that can not be replaced, a one of a kind trading card, which can be replicated digitally but only the owner maintains ownership of the original.

MoveStreets purchase comes via Sandbox, a metaverse that also ranks within the top five where total sales value is concerned, having seen almost 140,000 transactions to the estimated tune of $347m since launch

The Sandbox is an NFT collection of digital land plots stored on the Ethereum blockchain, described as “a community-driven UGC-voxel platform where users own their land and host their creative magic”. Brands are able to buy an NFT, or a number of them known as estates, which they can then develop to provide an immersive gaming style experience to users.

Adam Kamani, CEO and co-founder of MoveStreets, commented:“We’ve seen how the digital disruption brought by the online property portal has dramatically improved the buying and selling process, allowing prospective buyers to search anywhere in the nation in far greater detail from the comfort of their home.

“We believe the metaverse will be the next step in this user journey and so we made the decision to set up shop in The Sandbox to plan for the future and further our consumer offering.

“This experience is set to be far more immersive compared to anything currently available and should take the concept of virtual viewings to a whole new level. Of course, physical viewings will always play a role but there’s no reason that searching for a home online can’t be fun.”