Real Estate Digitalis in the Real Estate IT Industry

Real Estate Digital

Before we delve into Part 3 on the evolving landscape of virtual selling, let's quickly recap the series so far. emphasized HubSpot's findings on the pivotal role of platforms like Facebook and TikTok, as well as messaging apps in modern marketing. Building off the first section, , based on Vidyard's comprehensive report, revealed that in-house video production is the new norm, with YouTube as the preferred hosting platform for B2Bs. User-Generated Content (UGC) is dominating the video scene, and analytics reveal short videos garner the most engagement while also offering solid ROI. Part 1 part 2 If you haven't already, I encourage you to review Parts 1 and 2. They provide invaluable insights into the current digital trends and challenges that are shaping the sales and marketing sectors, setting the stage for a careful analysis into virtual selling in this final Part 3. 6 Big takeaways from Vidyard's State of Virtual Selling Report Vidyard's "The State of Virtual Selling" draws insights from over 720 validated sales and marketing professionals. The study sheds light on the challenges and opportunities faced by sales professionals in today's digital-first environment. Here's what I found most interesting: report “63% observed an uptick in response rates, and a third felt that these videos expedited their deal cycles… 41% of users witnessed improved close rates” The Changing Dynamics of Buyer Engagement A majority of sales pros are experiencing increasing difficulty in reaching buyers, with extended sales cycles, more touch points needed to seal deals, and an increase in stakeholders participating in the buying process. This aligns with our earlier findings from HubSpot’s report. "Ghosting" has emerged as a persistent challenge, with 42% of salespeople finding it tough to establish or maintain contact with potential customers. A significant 53% felt that reaching or selling to buyers has become more challenging over the past year. The Power of Custom-Recorded Videos Custom-recorded videos are gaining traction, with a majority agreeing that they outperform text-based emails in terms of opens, clicks, and responses. A staggering 88% of sales professionals reported that custom-recorded videos either matched or surpassed the performance of text-based emails. Interestingly, while text emails tend to induce anxiety in recipients, video emails seem to mitigate this effect. In terms of video styles, 26% were selfie-oriented, 20% showcased screen shares, and a majority (54%) combined both elements (hybrid). The Impact of Video on Sales Metrics Custom-recorded videos have proven beneficial for many sales pros: 63% observed an uptick in response rates, and a third felt that these videos expedited their deal cycles. The influence of custom-recorded videos on close rates is also noteworthy: 41% of users witnessed improved close rates, while a mere 5% experienced a decline. An overwhelming 93% of respondents believe that video content either matches or outperforms other content forms in terms of conversion. The Shift in Sales Cycles and Stakeholder Involvement The sales cycle's duration has seen changes, with 80% of participants stating that deals now take over a month to finalize. For half of the respondents, the sales cycle now spans between 4 to 18 months. The number of touch points in the sales process has surged for 57% of sales professionals. The buying process is increasingly collaborative, with a mere 7% selling to a single decision-maker. The majority navigate through 2-to-4 person buying committees, either intra-departmental (30%) or inter-departmental (25%). A significant 40% of sales pros have observed an increase in the number of stakeholders involved in the sales process over the past year. Video Usage and Adoption Trends The adoption of video in business has skyrocketed, marking a 135% increase year-over-year. On average, businesses are now producing 510 new videos annually, marking a 49% surge from the previous year. Vidyard's report underscores the pivotal role of custom-recorded videos in reshaping the virtual selling landscape. As businesses navigate the challenges of extended sales cycles and increased stakeholder involvement, the strategic use of video emerges as a powerful, low-cost and increasingly efficient tool to enhance engagement, response rates, and overall sales outcomes. Industries are increasing their video usage universally, but I'd like to particularly highlight the real estate sector and its swift and effective adaptation. The insights from this industry will further validate the aforementioned trends and provide research on effective strategies, their applications, and the key performance indicators that confirm their return on investment. 5 Insights Into Real Estate's Digital Evolution: Embracing Video for Enhanced Engagement The real estate industry, which traditionally depended on face-to-face interactions, has undergone a digital transformation, with video content taking center stage. Vidyard's analysis provides valuable insights into how real estate professionals are using video to revolutionize their methods, offering lessons for other sectors to learn from their achievements. [video messages are] 40% more likely to be opened, 37% more likely to be clicked on, and have a response rate that's three times higher than non-video content. Surge in Video Adoption The real estate industry has experienced a remarkable 132% uptick in video creation year-over-year. Furthermore, there's been a 155% increase in user-generated videos compared to the previous year. This surge underscores the sector's recognition of video as an indispensable tool for engagement. Why Video is Reshaping Real Estate Several compelling reasons account for real estate's rapid pivot to video: Clarity in Communication: Videos simplify complex explanations, making property features and contractual details more accessible to potential buyers. Enhanced Engagement: Video messages, whether shared via email or social media, boast impressive engagement metrics. They're 40% more likely to be opened, 37% more likely to be clicked on, and have a response rate that's three times higher than non-video content. Versatility and Customization: Once created, videos can be easily repurposed, reshared, and tailored, ensuring each communication feels personalized. Efficiency and Connection: Videos expedite deal progress by swiftly addressing queries, highlighting property amenities, and fostering a genuine personal connection between agents and clients. The Power of Cold Outreach Videos Real estate agents who venture into cold outreach video messages are reaping dividends. These videos not only capture attention but also leverage social media algorithms. For instance, Instagram videos garner 38% more engagement compared to non-video posts, while Facebook's video engagement soars to an impressive 135% versus non-video posts. Keeping Deals Alive with Video In the competitive real estate market, keeping potential deals warm is crucial. Agents found that follow-up videos outperform traditional emails in this regard. The perceived effort behind creating a video translates to higher value in the eyes of clients, helping to ensure sustained interest. Showcasing Personality for Client Acquisition For real estate agents, personality can be a significant selling point. Videos offer a platform where agents can let their unique personalities shine, providing both current and potential clients with a blend of personal and, at times, entertaining experiences. This approach not only helps fosters client loyalty but also helps earn more referrals, ensuring a steady stream of satisfied home buyers and sellers. Conclusion These reports show us how influential video, socials, UGC and AI have become in today's online world. We also see that consumer behaviour is changing and how businesses are adapting. Sales pros are finding that old tactics are increasingly ineffective at closing deals and earning new business - and it’s forcing industries like real estate to get creative to stay competitive. As technology and what people want keep changing, businesses need to keep up and attempt to predict what might be next. The findings from these reports may leave us asking: How will AI and video change the way people connect with brands in the next few years? With so many changes online, how can businesses make sure they stand out and give people what they really want? Just like real estate is using more videos now, which other businesses might start doing the same? In a time when we talk to each other more through screens, how can businesses keep things real and honest? And with more and more videos popping up because AI makes it easier to scale, will people get tired of them? Will they keep evolving to get shorter and more punchy? And if not that, what might be the next big trend(s) with video? As we navigate this dynamic digital terrain, understanding these key questions is not just insightful—it's essential for strategic planning. Grasping the future roles of AI, video, and shifting consumer behavior will not only redefine brand engagement but also identify the trailblazers in the next wave of online business. In a world where technology is constantly reshaping the sales and marketing landscape, those who adapt, innovate, and anticipate will not merely survive—they will set the industry standard. If you found this article insightful, please consider sharing it, leaving a comment, or tagging me on , , or where this discussion can continue to evolve. Let's lead the way together in this exciting digital frontier! HackerNoon LinkedIn X

Digital Mastery 2023, Part 3: The Evolving Landscape of Virtual Selling

ডিজিটাল মাস্টারি 2023, পার্ট 3: ভার্চুয়াল সেলিংয়ের বিবর্তিত ল্যান্ডস্কেপ

Digital Mastery 2023, Teil 3: Die sich entwickelnde Landschaft des virtuellen Verkaufs

Dominio digital 2023, parte 3: El panorama en evolución de la venta virtual

Maîtrise numérique 2023, partie 3 : le paysage en évolution de la vente virtuelle

डिजिटल महारत 2023, भाग 3: वर्चुअल सेलिंग का विकसित परिदृश्य

Digital Mastery 2023、パート 3: バーチャル販売の進化する風景

2023년 디지털 숙달, 3부: 진화하는 가상 판매 환경

Digital Mastery 2023, Parte 3: O cenário em evolução das vendas virtuais

Цифровое мастерство 2023, часть 3: развивающаяся ситуация в сфере виртуальных продаж

Dijital Ustalık 2023, Bölüm 3: Sanal Satışın Gelişen Ortamı

Làm chủ kỹ thuật số 2023, Phần 3: Bối cảnh phát triển của hoạt động bán hàng ảo

掌握数字化 2023，第 3 部分：虚拟销售不断发展的格局

With the emergence and increased adoption of digital assets in recent years, we are entering a new era of technology. Digital assets are anything that can be stored electronically and typically that have value such as currency, property titles, securities, and patents. Considering the unique properties of digital assets and the quickly evolving state of technology, it is important to value digital assets in a standardized way. You might be wondering why we should value digital assets, how they are different from traditional financial assets and how to develop a . Well, this article provides a comprehensive overview and analysis of digital assets and how to value them. valuation framework for digital assets Digital assets and valuation Unlike traditional financial assets such as vehicles, buildings, tools and real estate, digital assets do not have physical limitations, making them more relevant to the modern world. Digital assets are made up of algorithms and are stored over a network that represents value, they are digitized and can be moved or transmitted over the internet. This sets digital assets apart from other assets since they are not subject to the same limitations of time, location and transferability that a traditional asset might have. While digital asset valuation is essential in order to assign a monetary value accurately. We will take a look at the different approaches to valuing digital assets in the latter part of this article. What are digital assets? Digital assets are defined as anything that can be stored electronically, has value and is identified by a unique address. Digital assets are created with the sole purpose of being used as either a form of payment or to represent and record ownership. In essence, digital assets are electronic representations of value that can be used as payment or as an ownership right. Basically in businesses, the brand logo, image, documents, and any piece of information are all . Since storing and transferring these assets over a network has become easy, digital asset transactions have grown exponentially. It is worth noting that the Internet is a fundamental platform for both creating digital assets and consuming them. forms of digital assets What are the characteristics of digital assets? In order to address and understand the changing , it is important to understand the characteristics of digital assets. For instance, a logo of a business is a digital asset because it has been created using uniquely identifiable features, is stored over a network and has value. The key characteristics of digital assets are summarized below: state of technology Each digital asset is unique and consists of an identifying code, an address, and an algorithm. The unique identifying code provides a framework for digital assets and it is used to distinguish one entity from another. Digital assets can be sent, received and transferred over the internet in real-time and there is no need to meet up with the owner physically. This is a significant benefit as it allows for easy and secure transfer. Digital assets are secured in terms of their ownership and rights. For instance, there are some licensed images which are protected by copyrights and can only be used by individuals with permission. Why are digital assets important? The ability to save and share information has unlimited potential. Digital assets can create a platform for the exchange of ideas, ownership, customs, and even trade. The development of digital assets will be instrumental in the transition to a more efficient and effective working paradigm. Moving forward, digital assets will be able to be used for payments and for storage of things in the same way that traditional physical assets are often used. It typically helps to streamline a business by reducing collusion, allowing for the efficient use of resources and eliminating fraud. Digital assets have the potential to affect every aspect, from business practices to human interaction, and the ability to track anything digitally will greatly simplify the world. Today, digital assets are being used for various things, such as sharing information, ownership titles and tracking the transfer of value. Thus, digital assets can be used in a multitude of ways and the potential benefits are endless. Types of digital assets There are numerous types of digital assets and each one of them serves a specific purpose. While all digital assets have one thing in common, which is their ability to store and transmit value, they have distinct features that distinguish them from each other. Businesses typically use the following types of digital assets in their operations and business models: Documents Photos/Logos Videos/Audio Files Spreadsheets/PDFs/Presentations Applications/Software E-books/Text However, it is not limited to these types of digital assets, there are countless possibilities. Any creative work, idea or any form of information can be digitized and stored securely over a network. The transferability of digital assets is what sets them apart from physical assets. With the rapid increase in the number of digital assets being used in businesses, it is important to consider the value which is ascribed to these assets. Valuation of Digital Assets Now that you have an in-depth idea of what digital assets are, let’s discuss how to value them. Valuation is an essential aspect of the operation of a business, as it helps in financial analysis, planning, decision making and resource allocation. There are several techniques that can be used to value digital assets, and it is important to understand the different methods and approaches. What is digital asset valuation? Valuation methods for digital assets are as diverse as their uses. Digital asset valuation refers to an estimation of the value, worth or price of a digital asset. The valuation of digital assets is often made through the use of financial models, estimations, statistical analysis and other metrics. Although the valuation of digital assets differs based on the type of asset and use, there are generally a few common methods used to assess the value of a digital asset. Why is the valuation of digital assets important? Digital asset valuation is an essential part of the operation of a business. The need to understand an asset’s total value arises from more than just an accounting perspective. Whether it is for reporting purposes, planning, taxation, decision-making or distribution, understanding the value of digital assets is important for a business. The valuation of digital assets is often used to provide management with the information needed in order to make the correct business decisions. Digital asset valuation allows businesses to assess the worth of their assets and use it as an effective tool to make important decisions. Thus, the valuation of the digital asset is required in order to use it efficiently and effectively. What is included in the valuation of a digital asset? Digital asset valuation is made on the basis of its potential returns. The value of a digital asset can be estimated through a more comprehensive financial model that can analyze the asset, its own performance and individual trends. Here are a few steps or principles to follow when valuing a digital asset: - It is important to identify whether an asset generates economic returns from outside the company. Instead of having a free-market value, digital assets usually gain value when they are used in a specific context. The financial model for a digital asset must take into account not just its value to the organization, but also its recognition, popularity and value addition. Assets that generate value - The value proposition of a digital asset can be easily understood by assessing its potential return, usefulness and overall value to the network. Although the digital asset may not generate money immediately, it can be used to assist and add value to the company’s business. Some assets can be more valuable than others, but the main consideration is their ability to drive future growth in terms of their value to the company and its customers. Capability to add business value - It is important to review the future of a digital asset’s value. Many assets start out as nothing more than an idea, but over time they can grow and build businesses in terms of their usefulness and potential return. It is important to assess the value of a digital asset based on its probability of success and its future growth. Thus, the analysis of digital assets should focus on more than just market value. Future-oriented assets Methods for valuing digital assets Once the key principles for valuing digital assets are established, the next step is to develop a more methodical approach by using various valuation methods. Each valuation method is based on certain approaches and can help businesses determine their asset’s worth. Digital assets have grown drastically in the last decade becoming a mainstream phenomenon and businesses must keep up with the rapid increase in demand and have a better understanding of how to properly value these assets. A digital asset valuation may include an analysis of the management team, financial standing, earnings forecasts, and market value of the company's assets. The following are some of the more common methods used in valuing digital assets: - This approach is used in valuing a company from a comparable market to determine its worth. The market-based approach is used in valuing a company with similar characteristics that are publicly traded or even by comparing the transaction of the company. It can be used to value digital assets in terms of similar assets or assets of a company with similar characteristics. Market-Based Approach - It estimates the value of a company’s assets and then subtracts the value of liabilities. Including tangible, intangible and digital assets in the valuation allows businesses to evaluate their values. During the asset-based approach, the valuation of digital assets is essential as every item of an asset is considered. Therefore, it can be used to determine the worth of an asset. Asset-Based Approach - It employs the use of cash flow forecasting and future earnings to estimate the value of a company. Either the predicted cash flow is discounted using the DCF method or the capitalization of earning method is used in order to estimate the value of a company. Thus, the calculations used in valuing digital assets are complex and require a great deal of analysis and interpretation. Income-Based Approach Conclusion The valuation of digital assets is crucial in the operations of a company. The ability to evaluate, plan and assess the value of an asset helps businesses make better decisions and enhance their business growth. However, it is quite a challenging task to value digital assets as they are complex and require the expertise of professionals. The lead image ﻿was generated using feature, via the prompt "a digital hologram of a diamond". HackerNoon's Stable Diffusion AI Image Generator

The Importance of Digital Assets and their Valuation

The education sector is rapidly evolving to a better and more advanced version. As more people are realizing the importance of quality education, the global focus is shifting to creating solutions that facilitate this need. The advent of technology has a major role in this aspect, as getting educated is easier than ever before, owing to digitalization. Speaking factually, of the total learners agree that digitalization has improved the quality of education. This factor has also contributed to increasing the global literacy rate, as education is more accessible to all sections of society. 84% Out of all the technologies available for digital learning, Metaverse is the most prominent and undoubtedly the most popular one. However, this technology is relatively new, and therefore a significant part of the global population isn't aware of its existence. Therefore, let's start by understanding what exactly Metaverse is. Increasing Popularity of Metaverse Metaverse is a VR (Virtual Reality) platform known for its unique concept of creating a digital universe. The origin of Metaverse dates long back to the 1990s, but the technology has been recently popularized by Meta Platforms (formerly known as Facebook Inc.). Metaverse is one of the most promising forms of technology innovations and is especially popular among the younger generations. Metaverse facilitates numerous aspects of everyday life in a digital way, such as gaming, advertisement, education, travel and tourism, real estate, digital currency, workplace, and numerous others. As a result, more and more businesses are investing in the Metaverse and are benefitting from its tech advancement. The technology is highly safe and secure and is a reliable form of the virtual environment. This makes Metaverse a promising form of digital technology with great future potential. The benefits of Metaverse are exceptionally prominent for the education sector, making it a popularly growing choice for education institutes looking to go digital. This is resulting in an increase in the number of 'metaversities'. However, what is metaversity? Let's find this out in the upcoming section. Metaversity: An Emerging Concept Metaversity (Metaverse-based university) is a virtual learning space that is based on the concept of digital campus and . These digital campuses are fully capable of delivering quality education and are as good as, and in some cases, even better than, a brick-and-mortar campus. virtual reality Metaversities offer a great learning environment to students and enhance the quality of education. Moreover, these metaversities make education more accessible, as they are based on a virtual platform and facilitate remote learning. A well-designed metaversity is a complete platform for various forms of learning, such as academic learning, hobby learning, and even skill learning. It enables educators as well as learners to seamlessly achieve the learning objectives. Overall, the concept of metaversities, even though is relatively new, has many benefits. Let's take a closer look at these benefits in the next section. 8 Benefits of Taking Your Education Institution to Metaverse Cost-effective It is a commonly known fact that financial constraint is one of the leading reasons why many people are unable to get educated. This is one of the major contributing factors to the global illiteracy rate and a prominent challenge. One of the most notable benefits of Metaverse is that it is a cost-effective approach to accessing quality education. By using Metaverse-based learning solutions, students can get a classroom-like education at a considerably low price. Interactive Learning Students tend to learn faster and more efficiently when taught through interactive methods that make education feel less like a chore. One of the best examples of this concept is Metaverse-based learning, a technique proven to be far more enjoyable than learning on books and paper. Metaverse not just facilitates virtual learning but also enables the students to walk and do activities in the virtual classroom, enhancing their willingness to attend lectures. What's more? The students can interact with each other, play virtual games, take notes, and do everything else they otherwise would in a brick-and-mortar classroom, just in a more interactive fashion. Easily Accessible Metaverse is known to increase the accessibility of education for numerous parts of society. Many times, metaverse classrooms are based on easily available technologies like mobile applications; therefore, all that is needed to access them is a mobile device. Owing to this factor, many educational institutes are investing in developing Metaverse-based digital solutions for virtual learning. This factor is also a major contributor to increasing the scope of education. Tech Perks Technology is a well-proven medium for increasing task efficiency and generating desired results in a short time. Metaverse enables education institutions to utilize technology to their benefit and enhance learning. Moreover, present-day students are tech-savvy and prefer doing things the digital way. Metaverse enables students to seamlessly access and explores learning resources, further adding to their academic learning. In addition, students can gain hands-on experience in various subjects like Chemistry and Biology through VR-based lab experiments. Another tech benefit of Metaverse is increased integrity of the examination process, which makes testing students' knowledge a seamless task even in a digital world. These are just a few of the many ways in which education institutes can benefit from integrating Metaverse-based learning solutions. Gamification of Learning As we discussed before, the more interactive the learning process is, the higher the learner's efficiency will be. Metaverse aids this need by gamifying the learning process and making it seem less like another tedious lecture. Gamifying learning will help the students to thoroughly understand the concepts and will most certainly increase their participation. Adding rewards, badges, and using quests are a few ways to gamify learning on Metaverse. Moreover, providing real-time visual experience on certain concepts will enhance students' grasping ability and motivate them to finish their assignments on time. Use of Illustrations One of the major drawbacks of traditional learning methods is the lack of optimum illustrations. However, it cannot be denied that illustrations are fundamental to learning concepts in certain subjects. Metaverse enables educators to overcome this challenge and teach their subjects seamlessly with highly interactive illustrations. For example, if the students have to learn human anatomy, the teachers can provide a precise and clear visual outlook of every aspect of the subject and make learning more fruitful. Moreover, Metaverse facilitates 3D and working illustrations that are further enhanced by Augmented Reality and motion graphics. Hands-on learning Having hands-on experience is fundamental in certain industries. It not only prepares the students for the real-life implementation of their knowledge but also adds to their existing skill set. Moreover, this hands-on experience is also useful in employee skill training, an aspect that many businesses are prioritizing at present. By using Metaverse, educators can easily teach numerous technical skills without incurring a high cost. For example, in order to demonstrate how to launch a rocket, we no longer have to launch actual rockets but merely have to use VR solutions like Metaverse. This will save the time and cost of learning and ensure efficient results with a fine hands-on training session. Seamless Parent-teacher Interaction Many education institutes place parent-teacher interaction at the heart of their practices. This communication between the student's educators and guardians ensures that the education process is efficient and satisfactory. However, the traditional education system requires the parents and teachers to be physically present in one place, often making it challenging for them to interact with each other. Metaverse, on the other hand, being a virtual reality platform, eliminates the need for physical presence during parent-teacher interactions. The platform enables teachers to virtually meet the student's parents and easily communicate with them. Moreover, the teachers can also present test report cards and progress reports to the parents using Metaverse, and the parents can ask questions and easily clear their doubts. Now that you are aware of the benefits of integrating Metaverse in your education institution, it is time to dig into the platform’s technical aspect. The following section will discuss the technologies that can further enhance Metaverse learning and take it to the next level of educational excellence. Technologies that Enhance Metaverse Learning Augmented Reality AR (Augmented Reality) is a technology that superimposes virtual content over physical one to generate the desired results. Instagram and Snapchat filters are the best and most popularly known examples of Augmented Reality. At present, AR is used for various purposes like gaming, entertainment, learning and development, education, etc. Generally speaking, mobile phones and tablets are ideal for using AR and creating hyper-realistic visual results. Moreover, Metaverse, being a virtual platform, is highly integratable with Augmented Reality and is capable of increasing the quality of digital education. Artificial Intelligence Metaverse education is a complete solution to the needs of present-day learners. Owing to this factor, the platform is gaining immense popularity and is witnessing high user traffic. As a result, it can be challenging for educators to provide individual attention to each student. This is where AI (Artificial Intelligence) can be helpful. Based on machine learning and big data, AI can easily clear students' doubts even in Metavese's digital world with ease and provide an enhanced learning experience. Artificial Intelligence has been a crucial part of the education sector for years. Speaking factually, the market for AI-based education is expected to surpass by 2027. This makes AI a highly promising investment for Metaverse-based education institutions. Moreover, it is worth noting that the combination of Metaverse learning and AI is new and, therefore, is rarely implemented. As a result, by implementing this technology, your education institute will certainly have early bird advantages and will gain a distinctive market position. 20$ million Mobile Application Mobile applications are one of the most popular forms of technology at present and are highly user-friendly. You must know that mobile apps are practically one of the most compatible technologies with Metaverse. As a result, it is a trend among education institutions looking to go digital on Metaverse to build a mobile app. Generally speaking, there are two ways to build a mobile application, which are native app development and cross-platform development. Ideally, native mobile apps are chosen for creating Metaverse-based learning solutions. This is because native app development guarantees high-end performance, a critical factor for VR-based platforms like Metaverse. Blockchain Blockchain is a hack-proof technology that is highly immune to any kind of security breach or data theft. This is a factor that most digital technologies aspire to have, owing to the rapidly increasing vulnerability of data security in the digital world. Metaverse is no exception in this matter and can tremendously benefit from Blockchain. By integrating Blockchain into your Metaverse learning solution, you can offer an optimally secure virtual learning platform to the learners. Now that you know how to enhance your Metaverse classroom and increase its benefits, you must be wondering, what is the cost of building a Metaverse-based digital classroom, right? The upcoming section will cover this subject in detail. What is the Cost of Building a Metaverse-based Virtual Classroom? The cost of building a virtual space on Metaverse is highly dynamic. A lot depends upon your requirements and the features that you wish to add to the platform. In any case, you will need to hire external human resources to get a Metaverse platform developed for your business. On average, it can cost anywhere from $1,15,000 to $2,00,000 USD to build a Metaverse classroom. You must know that the actual cost can be higher or lower than this amount, depending upon your business's requirements. Final Thoughts Metaverse is a highly advanced form of technology and is gaining tremendous popularity. The platform holds a highly promising future for the education sector. By using Metaverse, education institutes can not only enhance the quality of education but can also increase their operational efficiency. By thoroughly understanding the advantages of Metaverse and undertaking an extensively planned implementation process, you are certain to achieve tremendous success in digital education. This will not only benefit the students but will also enable you to keep up with the latest market trends. This makes investment in Metaverse a highly profitable and promising one.

Metaverse Learning: The Future of Education

The Urban Village Project: A Vision for Liveable, Sustainable, and Affordable Homes As the modern capitalistic system was taking shape, its countries were tightening entry rules. Migrant workers  - unwanted guests, actually - therefore, were underpaid compared to locals. This, in turn, triggered unemployment rates and placed an additional burden on the state. In the digital era, a new type of employment has become common, i.e. remote jobs. Advocates of this concept - ‘digital nomads’ - are mobile like never before; they can both move internally and across borders. They are most welcome in various countries since they are wealthy and well-educated, they don’t compete with the locals for their jobs; also they can help in growing the economy of the countries they reside in per time. By 2022, implemented the regulatory frameworks aimed at attracting digital nomads. 46 countries Digital nomads are pioneers of a new, ‘informational’ society. As it develops, a major paradigm shift in consumption habits becomes obvious. We’ve already witnessed the increased interest in the ‘sharing economy. Car-sharing, streaming services, co-working, and co-living platforms became routine over the short term. At the end of the day, the sharing economy comes with a fundamental message for a modern person of the digital era: You don’t need to own something to use it With eased migration restrictions and increased usage of sharing economy instruments, digital nomads can comfortably reside wherever they want. Comfort starts with a living space Modern architects are focused on creating designs for comfortable living spaces. For instance,  IKEA, Studio10, and EFFECT architectural bureau are working on .
With the fusion of modernist ideas about future living space, we can reconsider the way people own and use real estate in a digital society. The Urban Village project For instance, a digital nomad might be interested in spending their youth in New York with its working opportunities, adulthood in Copenhagen with its developed public services ecosystem, and then he/she would be able to retire in peaceful Zurich. Also, during his/her lifetime, he/she might be interested in traveling to a seacoast near Porto or to the marvelous city of Tokyo. This lifestyle radically changes the way we perceive the concept of ownership: now it becomes a burden, not an opportunity while a housing rental becomes a sensible choice. Rental becomes a flexible and relevant way to enjoy a high standard of living at a reduced cost. But there’s a plethora of rental opportunities in every country, let alone Airbnb. So, what’s next? Unlike the owner, renters can’t utilize real estate as an asset. Real estate ownership is a ‘safe haven’ for many; landlords are ‘sustainable’ in this world while their tenants are ‘unsustainable’. Here is a critical trade-off: owning real estate results in limited mobility, but increased sustainability and vice versa: as they don’t possess their own real estate, digital nomads are ‘unsustainable’ in this world. Real estate tokenization is the way to address this issue Real estate tokenization system allows users to rent objects from a decentralized autonomous organization or DAO instead of buying it. With every rental payment, the tenant receives . It works not unlike a loyalty program with cashback bonuses. Token holders can have a say in crucial referendums. The more tokens a user holds, the larger his/her voting power is. This power allows him/her to adjust rental rates, a most sensitive input for tenants. governance tokens In turn, to build new real estate for rental, a DAO needs investments. They can be raised through backed by real estate. Holders of share tokens can’t take part in voting, but they are able to convert their tokens into cryptocurrency in order to receive back their funds as well as the share in DAO revenue proportionally to their investments. share tokens Revenue is a key motivator for investors to take part in such a DAO; they are interested in high rates (bigger rates = larger revenues). This feature unlocks the opportunities for market operations between tokenholders as investors and lenders can exchange share tokens and governance tokens with each other. Investors will be interested in maximum revenue; this will motivate them to exchange share tokens for governance ones in order to adjust rental rates. As such, there will be a catalyst for the demand for governance tokens and share tokens supply. In turn, tenants will be motivated to evolve into the ‘owners’ of real estate through purchasing share tokens; it will catalyze the demand for them and affect the supply of governance tokens. Therefore, the equilibrium between these groups will make rental rates fair and democratic. Bottom line Tokenization of private property is a technical basis for the mobility and sustainability of a person in a digital world. The evolution of the existing concepts should lead to the emergence of a new service of real estate rental. This service is set to allow its users to create a living space in every country of presence. Should you be interested in re-location, please, specify this fact in the application: the exact copy of your existing living space will be waiting for you. Pay only for the services you actually use. Don’t need a coffee maker? Delete it in the configurator and reduce your monthly payment. Get your governance tokens as cashback for using the service and adjust your future rental rate. Also, you can exchange your governance tokens for share tokens and start owning real estate in various countries. Further articles will cover the features of the service and its tokenomical details. We would appreciate any sort of feedback from those interested in observing the service, backing its efforts with their skills as well as from all enthusiasts: please reach us by e-mail: and in the comments. 0x180db@gmail.com

Build to Rent DAO: Pioneering the Concept of 'Rent-to-Earn'

Build to Rent DAO: Pioneros en el concepto de 'Rent-to-Earn'

Build to Rent DAO : Pionnier du concept de « rent-to-earn »

बिल्ड टू रेंट डीएओ: 'रेंट-टू-अर्न' की अवधारणा की शुरुआत

Build to Rent DAO: 「Rent-to-Earn」の概念の先駆者

Construir para alugar DAO: pioneiro no conceito de 'aluguel para ganhar'

Xây dựng để thuê DAO: Tiên phong cho khái niệm 'Thuê để kiếm'

Build to Rent DAO：开创“先租后赚”的概念

In early , John Glen, the economic secretary for the UK Treasury, confirmed several plans building upon previous announcements of Britain's move to reveal cryptocurrency and digital assets-based regulations in . Some of the topics being examined in these plans include stablecoin considerations, the legal status of decentralized autonomous organizations (DAOs), tax implications of defi loans and staking, and much more. The announcement of these plans bring about significant relief to cryptocurrency ecosystem enthusiasts, particularly given the British government's seemingly internally contrasting stances on the industry, particularly considering previous regulator statements such as the UK version of the SEC stating that "people should be prepared to lose all their money" in regards to crypto ATMs as recently as in . April 2022 March 2022 March 2022 Despite these seemingly positively-trending factors, does the specific request of Finance Minister Rishi Sunak asking the Royal Mint to create and issue an official NFT “by the summer" one that will change the way governments examine NFTs? Policy insights within the United Kingdom While the Treasury's move to create an NFT is certainly a positive step forward in terms of governmental support of NFTs, ecosystem participants must see this experiment as purely exploratory in-nature, in contrast to holding this event as an oracle into the future of NFT regulation. NFTs still have a significant amount of policy considerations for governments like the UK to address, with many of these issues being related to the perception of NFTs being primarily art-based, to include concerns like and remaining in the minds of both consumers and regulators alike. phishing pump-and-dump scams However, the Treasury's move to specifically mint an "official" NFT does highlight a positive factor for NFTs themselves, demonstrating the implied UK policy recognition of the value that NFTs, and subsequently, blockchain technology, can bring to different applications. The rollout of these regulations to offer clarity in the space also provides different government regulators a chance to align in regards to NFTs, offering further legitimacy to this part of the crypto ecosystem.  It will be interesting to see how the UK government advocates for further consumer-facing education on NFT-related projects, with NFTs potentially offering value to industries like for land ownership as well as to healthcare and documentation through things like . real estate digital vaccine passports EU and global policy perspectives surrounding NFTs While Britain may implicitly recognize NFTs on the policy front, other regulators in the EU and beyond have contrastingly mixed perspectives in respect to NFT-specific legislation. Legislation such as the ever-changing Markets in Cryptoassets Regulation (MiCA Proposal), which NFTs could fall under, have so far resulted in the EU Parliament to limit the energy-intensive proof-of-work protocol, yet voting in favor of outlawing anonymous crypto transactions in late . rejecting a proposal March 2022 Additionally, in early , sources confirmed that the American SEC was investigating specific creators of certain NFTs and their associated exchanges to determine whether or not NFTs are being used as illegal token offerings. This follows on the heels of earlier statements by the US Department of Treasury, where it specifically called out NFTs as a potential means of money laundering and illicit financing in . These contrasting viewpoints demonstrate the significant amount of confusion in the space given the different stances taken by various government agencies, even within a specific country itself, on topics like NFTs. March 2022 February 2022 Future regulatory concerns over NFTs While the push to adopt NFTs may continue to stay in the mainstream, the environmental impact of NFTs will continue to be a significant policy issue for governments to address within their respective regulatory frameworks, particularly if the NFT market continues to . One example of NFT carbon emissions can be seen in the example of French digital artist Joanie Lemercier, who cancelled his sale of six works after calculating that the ten-second sale would generate enough electricity to power his entire studio for two years. Additionally, organizations like the United Nations' Intergovernmental Panel on Climate Change (IPCC) continue to warn about the future of climate risks, calling out cryptocurrencies, and by default, the entire crypto ecosystem to include NFTs, as a potential growing global source of carbon emissions if electricity production is not decarbonized, according to an IPCC report released in . build primarily on the Ethereum network 2021 April 2022 Other regulatory concerns will continue to exist in the space as the British government steadily releases more information. Some policy concerns that NFT enthusiasts must keep an eye out for include consumer protections, anti-money laundering/Know Your Customer (AML/KYC) regulations, and disclosure agreements, among many others. Conclusion Therefore, while a UK mint-backed NFT may not significantly move the needle in regards to policy adoption tailored towards wider acceptance of NFTs, this move will result in a corresponding flurry of interest by other regulating bodies in the EU and around the world. This decision by the Royal Mint will undoubtedly force other countries to declare their positions on NFT acceptance within their wider ecosystems, forcing a decision point to either begin iterations on regulations aimed at NFTs, or banning them from markets entirely. While overregulation will certainly stifle innovation, Britain's move to proactively deal with NFTs and their corresponding amount of secondary and tertiary issues does demonstrate a practical foot forward in ensuring that governmental policy can keep pace with the ever-changing crypto ecosystem.

What the UK Royal Mint's "Official" NFT Means for Global NFT Policy Adoption

Pizza Giant Enters the NFT Industry to Enhance Brand Interaction NFTs are hot right now! As part of the metaverse’s largest ever free NFT giveaway in the UK, Papa John’s has launched its first collection of cool and collectable NFTs. NFT enthusiasts in the UK will be able to get their hands on the collection, which includes 19,840 NFTs in nine pizza hot bag-inspired patterns, over the course of a few days in early March. By visiting the , pizza enthusiasts can get a taste of the NFT universe and get their hands on nine uber-cool free hot bag designs, like the ‘Papa 1984’ and ‘Papa Cheese Melt.’ NFT website The ‘Papa 1984’ NFT bag combines the Gen Z trend for insulated streetwear with echoes of thermal pizza hot bags to create a one-of-a-kind fashion item. This NFT design comes in three block colourways with a colour pop tag and has a logo repetition and a convenient, adjustable crossbody strap alongside the tote handle. The NFT bags ‘Papa Cheese Melt’ and ‘Papa Tag’ combine street art graffiti images with dance fashion style to highlight the hip-hop culture when Papa Johns first opened its doors in 1984. Tezos, an energy-efficient blockchain, created Papa Johns’s NFT Hot Bags, which implies the NFTs are also energy-efficient. Tezos sets the bar for energy efficiency, consuming over two million times less energy than popular Proof of Work networks. The Tezos blockchain’s overall yearly carbon footprint is the same as the average energy footprint of 17 humans. Furthermore, Tezos’ cheap gas costs enable a smooth user experience, allowing anybody to mint, host, and trade NFTs with little entry hurdles. What is NFT and how is it slowly getting adopted into the mainstream We already know that NFT technology has become a reality in our daily lives when we engage with digital material and applications, such as digital images, games, entertainment and movies, and other industries like real estate. Digital artists now have a new way to monetize their work and skills with NFTs. Digital artists have raised over $2 billion in Ethereum worth in the last year alone due to the ease with which blockchain technology can verify the authenticity of an artwork’s original creator. A product’s culture of invention and innovation is nothing new to the food and beverage industry. NFTs have been introduced into the mainstream acceptance of Papa John’s NFTs, a paradigm shift in the restaurant sector. Catch all the breaking news, and Don’t forget to like the story! Image credits: and . Shourav Sheikh Alan Hardman Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions, and equipping readers with better opinions to make informed decisions. The writer holds Bitcoin, Ethereum, Cardano, Solana and Cosmos. The writer has been commissioned to write this story and thus has a vested interest in the companies/products mentioned above.

Papa Johns is Making NFTs Mainstream with its NFT Collection Launch for Pizza Lovers 

The virtual real estate market is likely much smaller than you think. Despite recent news headlines announcing blockbuster sales, only a tiny minority of technologists are buying land in the , according to the professional social network Blind. metaverse Fewer than one in seven (13 percent) are buying virtual real estate in the metaverse, a of 3,219 verified professionals on Blind found. user-initiated poll A majority of poll respondents (57 percent) said they were not purchasing land in the metaverse. The novelty of the new trend appears to be driving most of the hesitation and skepticism. A verified Pearson professional on Blind pointed out nothing could stop anyone from creating more digital property. The technologist said: “What a dumb investment. The whole reason that land/real estate is a good investment is because there is a finite amount. What’s the point of virtual land?” Perhaps unsurprisingly, 30 percent of technologists did not know how to , owing to how new the concept is. buy land in the metaverse What is virtual real estate? Virtual real estate is generally a (NFT), a one-of-a-kind digital asset verifiable or tradable on the blockchain. While NFTs are best known as digital art and collectibles, the technology can also represent anything digital. Enter: . non-fungible token Virtual real estate Generally, virtual real estate is a set of coordinates or unique location in a “district” within a specific metaverse, commonly an online platform, like a game. How do you buy virtual real estate? Metaverse platforms generally have a unique token or cryptocurrency. Prospective must use this specific asset to make the purchase. An account and wallet on a are often required. Some NFT marketplaces also act as peer-to-peer marketplace for virtual real estate. digital-land buyers cryptocurrency exchange After the purchase, the virtual real estate will appear in your cryptocurrency wallet as an NFT, which helps confirm you are the owner. The transaction will also be recorded on the metaverse platform’s . unique blockchain How valuable is virtual real estate? Like physical real estate, location matters with virtual real estate. “There are limited resources, and there will be limited ‘winning’ jurisdictions in the Metaverse that people will coalesce around,” a verified Unity professional explained on Blind. “Buying that virtual property from now is a bet on that jurisdiction being one of the key, most-used ones. They ARE limited, and NFTs ensure that they are unique.” Be warned: Virtual real estate can lose value. If the metaverse platform is abandoned, the value of its real estate will drop and can even reach close to zero. Additionally, the supply of virtual real estate could be infinite. Nothing is stopping metaverse platforms from creating more digital land, although some platforms have said they will not make more to keep the assets scarce. “There will be future attempts to make metaland scarce either artificially or through network effects, but you can always create more,” noted a verified engineer at Speedway on Blind. Indeed, new metaverses can be created at any time, each with its own plots of digital real estate. The bottom line Even among early adopters of technology, virtual real estate appears to be a niche trend, according to Blind. The number of virtual landowners is far from the “land boom” that metaverse proponents say. It remains unclear which metaverse platform or virtual real estate may be valuable in the long term, and as a result, it may pay to take a wait-and-see approach.

Only 13% Of the Tech Professionals Are Buying in the Metaverse Real Estate, a Study Shows

NFTs are everywhere right now. It’s hard to traverse the crypto landscape – or even the non-crypto landscape – without encountering NFTs in some capacity. Art; real estate; digital collectibles; you name it, it’s being traded and auctioned off as non-fungible tokens. Quite where the trend will end is anyone’s guess, but given that someone just on a pixelated CryptoPunk, it seems NFTs have still got some way to run. spent $7.5 million One industry that has natural synergies with NFTs, and where much of the innovation is occurring, is gaming. From enabling in-game items to be freely traded, to supporting the sale of virtual land in metaverses, NFTs are being ingeniously applied to provide provable ownership in digital lands where resources are programmed to be as scarce – and thus valuable – as their real-world counterparts. Power to the Gamers Blockchain technology gives users the ability to verifiably buy, sell, earn, and exchange tokens in a digital ecosystem. This allows people to earn income in new ways, something that VulcanVerse is now bringing to the gaming world. With the explosion of NFTs and alluring virtual universes bringing in a new wave of players, blockchain-based games where users can monetize their skills have started to take off. Although many blockchain games are still relatively rudimentary, only allowing for very basic functionality, VulcanVerse has created an entire MMO ecosystem where users can fight, undertake quests, work together, and play in a universe with a deep and all-encompassing fantasy lore. VulcanVerse takes the traditional dynamics of a fantasy MMO and gives it a blockchain twist, allowing users full ownership over all in-game assets bought or generated. The project originally launched on Vechain Thor, but has chosen to move to the more NFT-friendly . Buoyed by the rapid growth of NFTs, VulcanVerse has increased its trading volume from around $10,000 to over $6 million. This increase can be partly attributed to its migration to a more suitable network in Polygon and the continued speculation on the value of NFTs. Polygon network (previously Matic) VulcanVerse is demonstrating the viability of the play-to-earn economy, which allows gamers to earn a living or side income by producing value-adding in-game assets. The concept, at least, makes perfect sense. For example, if someone spends 20 hours completing a hard mission to earn a rare item, they can quantify the skill and man-hours it took to obtain that item and sell it on the open market if they wish. A robust secondary market is generated around popular games with interested users, giving full autonomy and decision-making power to individual gamers. Letting Gamers Decide the Outcome Traditionally, game development was left at the sole discretion of its dev team, but this is now starting to change through titles such as VulcanVerse. The project has introduced an innovative new feature known as , which, as you've probably guessed, allows gamers to design their own adventures for themselves and others to undertake. With PYR, VulcanVerse’s native cryptocurrency that powers its gaming economy, users can create their own quest or adventure once they obtain a level 7 land plot within the game. Create Your Own Quest (CYOQ) Users can earn PYR by completing various quests and tasks, rewarding gamers with tangible value for their efforts. By combining the collection of NFTs in the form of items, creatures, and land, as well as the ability to earn a real currency and design your own in-game outcomes, VulcanVerse is redefining how developers and gamers can approach online games. Bringing VulcanVerse to the Real World VulcanVerse isn't limiting its gaming metaverse solely to the digital world, as the team is collaborating with some of the in the industry to introduce its gaming lore as a full-length book series. With hard copy fantasy and a breadth of lore history important for the long-term success of an MMO, this will help VulcanVerse bridge the gap between the traditional gaming community and its own ecosystem. top gaming fantasy writers Teaming up with famous authors behind series such as Fabled Lands, Fighting Fantasy, and Way of the Tiger, VulcanVerse plans to release a series of five books in Q1 of 2021, taking a deep dive into their gaming lore and “history.” As the hype behind NFTs continues to grow and more people begin to understand that they can make money while having fun gaming, multiverses like VulcanVerse will form the hub around which a thriving digital economy revolves. Disclaimer: This material is not sponsored by any organization mentioned in the article. Lead image via IGDB .

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