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The cost of owning a piece of real estate starts at $225 which is for a 900 square feet space and goes up to $27,000 for a large space. “It’s essentially like a city where you can be a passive investor, own real estate and earn income from it,” he explained. Ray sees Metamall as a multi-purpose shopping mall that will also include office spaces as well as separate gaming zones. The plan is to increase that count to 200 to 250 brands in the next six months. Initially, Metamall will have 20 odd brands, from big anchor stores to leading cosmetic brands when the platform goes live in April. “You can buy or lease a space in the Metamall and the location becomes yours,” says Sahan Ray, head of business development at Metamall. The Metamall, a metaverse shopping center, is a platform built on the Solana, a user-generated, blockchain-based virtual world.
Gianchandani’s Metamall, the company he co-founded in 2021, is pitched as a virtual real estate developer that helps users buy real estate in the metaverse. Also read | Is metaverse snapping our connect with the real world?
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