Disrupting the Real Estate Industry: Web3 & NextGen Technology
Property investment can be cumbersome, time consuming and expensive. The Real Estate industry is therefore ripe for Disruption. There is a whole ecosystem of emerging financial technology, strategies and business approaches to solve real estate problems for sellers and buyers alike and revolutionize the way the property is held worldwide.
Web3 opportunities are growing using smart contracts, blockchain technology, tokenization, AI, Augmented Reality (AR), Virtual Reality (VR), smart buildings, interior design with AI generated mock ups and virtual staging, and NextGen Sales Galleries. Developers can implement these new technologies in different aspects of their company, and as the technology progresses the financial savings and improvement in efficiency will be significant.
The volatility of crypto currencies and crypto regulatory challenges recently has hurt the overall Web3 technology space, but it is important to note that they are separate and apart and only built on the same blockchain technology. However, cryptocurrency has made more billionaires in less time than any other asset class and learning how crypto and real estate interact will be important to take full advantage of the combination for enhanced opportunities.
NextGen Sales Galleries represent a practical application of Virtual Reality for selling developments. In the pre-construction phase, millions of dollars are now spent on sales offices, leasing space and building out unit models with high end finishes. Models are finished in one design with no options which allow the potential buyer to see different layouts.