What Metaverse real estate means for mortgage professionals
The Metaverse is defined as the simulated digital world that mimics the real world through virtual reality and augmented reality in which users can interact. As the Metaverse expands, its offerings now include “virtual” real estate. But what does virtual real estate mean for real-world mortgage professionals?
Defining virtual real estate
“Actual” real estate is defined as property consisting of land or buildings, and everything that is permanently attached to the land. There is a legal description. Its boundaries can be shown on a land survey and ownership is vetted through a physical deed in the jurisdiction, where the physical real estate is located. Ownership grants the right to possess, sell or lease it.
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