Crypto House Capital Goes Flat Out in Metaverse Real Estate Launch

“The rise of cryptocurrency, blockchain technology, and decentralised virtual worlds has opened up an exciting array of opportunities to enthusiasts, investors, and developers.”

The metaverse is getting more attention with Crypto House Capital (CHC) firing up with a real estate approach to investing.

The London-based tech company offers “risk-adjusted returns” via the development, acquisition, management, leasing and sale of virtual property on blockchain-based metaverses in the form of non-fungible tokens (NFTs).

Founded by Tomas Nascisonis, who is also the co-founder of PropTech Lithuania, CHC is looking to help people build a nest egg via a virtual nest. CHC is targeting individual and institutional investors at present.

CHC states: “The rise of cryptocurrency, blockchain technology, and decentralised virtual worlds has opened up an exciting array of opportunities to enthusiasts, investors, and developers.”

The startup is certainly not wrong as real estate in the metaverse is gaining in popularity. It’s definitely not a cottage industry.

For instance, The Metaverse Group is also out and about. The group, with its global HQ in Crypto Valley in Decentraland, consists of several firms focused on areas of the metaverse industry including real estate acquisition, development, real estate investment trust management, metaverse district development, metaverse capital markets and other related services.

In terms of CHC, it will no doubt be well aware of the business potential and rivals. HSBC, JP Morgan, PwC and Samsung are notable examples of companies grabbing a piece of virtual land, which they intend to develop for a variety of purposes.

As Forbes noted last month, less than a year ago, the average price for the smallest plot of land available to buy on Decentraland or the Sandbox – two of the biggest metaverse platforms – was under $1,000 (£800). Today it’s sitting at around $13,000 (£10,300).

CHC says it is playing an active part in developing metaverse projects, such as Skylum, an inhabitable, virtual skyscraper.

Skylum offers 887 apartments and has 816 customers at the time of writing. The whole idea is to offer a place for shared facilities including a restaurant, spa complex, gym, cinema, garage, entertainment venues and an outdoor garden.

CHC’s dream is to make money from a “dream apartment”.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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