Guide to Metaverse Real Estate for Educational Institutes    
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October 2, 2023
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Guide to Metaverse Real Estate for Educational Institutes

  • October 3, 2022
  • 4 min read
Guide to Metaverse Real Estate for Educational Institutes

The metaverse will ensure a parallel economy that corporates and educational institutes will run on. Metaverse Shopping, Metaverse Education, Metaverse and Metaverse Real Estate are certainly trending concepts.

– Industry estimates proclaim that as early as 2026, 30% of companies will have a metaverse presence. (luisazhou. com)

As technology evolves, new enterprise and educational solutions will emerge. The way we socially bond, learn and work will undergo dramatic transformations.

The market trends are optimistic, and industry analysts expect that metaverse will bring much-needed changes to the education domain.

  • Leading firm JP Morgan pegs the market for metaverse development to be at $1 trillion shortly.
  • Bloomberg analysed the valuation at $500 billion in 2020 and claims it will touch $800 billion by 2024.

Major Corporates of the tech world like Facebook, Microsoft, and Nvidia have already announced their metaverse development plans. It will take a while for the metaverse to catch on. However, the indications are clear- today or tomorrow, the metaverse will enable a new virtual world and economy.

Basics of Metaverse Land and Real Estate

Metaverse Real Estate is certainly a buzzword in the technology space. There’s a huge market for it.

Commercial property at a good location is a must for corporates and educational institutes to conduct their businesses. For individuals, it has social and aspirational values. If we consider physical commercial property rates, they sell or rent at very high prices. But it is a matter of repute, and all companies would like their own offices in good commercial areas.

Now, the metaverse is also offering virtual land spaces. These virtual lands can be bought, rented or sold. Interested buyers need to sign up with metaverse platforms dealing in land and real estate. The land will be bought with cryptocurrency and listed on the blockchain.

Consider these market trends:

– Metaverse Real Estate sales will probably see revenue of $1 billion in 2022. (MetaMetrics Solutions)

As per an article published in Forbes, the metaverse real estate prices shot up by a whopping 700% in 2021.

And we all know that people are besotted by their icons. 

  • A fan of musician Snoop Dogg thought it a novel idea to become his neighbour in the metaverse and purchased metaverse land worth $450,000next to be next to the celebrity’s metaverse property.

Why Educational Institutions should set up Metaverse Campuses?

– Globe News Wire analyses that the education in metaverse opportunity stood at $4.9 billion in 2021 and will rise to $ 94.9 billion by 2030.

The educational metaverse is opening up innovative ways to teach and learn. Learners will be limited only by their imagination.

Some of the path-breaking novel approaches include

  • Learners can create their own learning spaces that suit their needs and goals
  • They can visually and physically experience life in various situations and eras
  • They can time travel to understand world scenarios better
  • Skill mastery can be attained through repeated practice in VR Labs with no risk or additional costs.

A decentralised and participatory educational platform is offered via the metaverse, and competency will be valued beyond enrolment and physical presence. Learners can specialize in specific courses and advance their skills without migrating to university campuses.

The instructional material will be individualized and offered at the student’s speed.

– Due to varying learning styles, many talented students have difficulty keeping up with the class format.

– Students can get their credentials and learn in replicated digital Metaverses just like they would in a physical classroom.

– Learning Assisted by the Metaverse Teaching model enables a better understanding of complex and difficult subjects.

– For instance, learners can overcome the problems of studying 3D geometry

This opens up new horizons for advancing science, math, and the study of space and gravity. This is required to create a scientific temperament and advance human evolution.

Prominent Universities with a Metaverse Presence

In metaverse real estate, virtual land parcels are units of 3D spaces where developers can build infrastructure, construct VR classrooms, superimpose objects, design VR worlds, overlay experiences, and other activities. Real-time interactions will be enhanced in this decentralised, autonomous world. The knowledge economy will prosper. Learning won’t be constrained by physical or geographic frontiers or confined to university campuses.

Some prominent examples of universities that have taken up space in the metaverse include

Morehouse Metaversity

The university has a digital replica or metacampus of Morehouse College. Students can study topics ranging from anatomy to world wars and conduct lab experiments.

Davenport University

Davenport University has set up Davenport Global, their virtual campus in the metaverse. The Metaverse College upholds its high-quality courses and instructional methods.

Summing Up

Investing in metaverse real estate is a smart and futuristic decision for educational institutes that wish to foray into metaverse education. Institutes can connect with Edverse to learn more about procuring metaverse land and setting up entire educational ecosystems in the metaverse.