Terrible Apartment Hits Metaverse Real Estate Market
If the current real estate market wasn’t strange enough, the Metaverse has put a true catch up for sale —
Jen Avison Smith
If the current real estate market wasn’t strange enough, the Metaverse has put a true catch up for sale — if “catch” means catching the current rat tenants and evicting them before escrow closes.
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A Real Estate Nightmare in the Metaverse
Coinage has created a listing for a two-bedroom apartment in the Metaverse, making it the first-ever listing of its kind. Located in New York City, the current sale value is $528,000 and has rats, dilapidated furnishings and trash to boast as selling points. The walls are covered in blood and there’s a shower in the kitchen, making it both impractical and nerve-wracking.
About Coinage and Farkakte Apartments
@farkakteapartments What is this farkakte digital real estate worth to you? Tune into tomorrow’s episode for Coinage where I’ll be a featured guest exploring selling the first farkakte apartment in the Metaverse 💋 #metaverse #web3queen #digitalrealestate #coinage #decentraland #decentralandrealestate #virtualrealestate ♬ original sound – Farkakte Apartments
Real estate agent Stephanie Turk, famous for her Tiktok presence showcasing equally questionable real-life apartments in New York, is acting as the broker for this virtual listing. Turk is aware that this listing is a commodity of its own right.
“I don’t know why anyone is shopping for a virtual apartment, but what I know for sure is that this is a piece of pop art,” Turk said in a recent press release.
Turk is an agent with Compass Real Estate, and uses her social media reach under @FarktakteApartments as a comedic outlet— but also to promote sales. Farkakte is a Yiddish word meaning lousy, ridiculous or messed up, among other excrement-related colloquialisms — making it a perfect association for the property.
The unit itself is listed by Coinage, a crypto-focused talk show that deep dives into the latest virtual trends and movements. Host Zach Guzman can relay sentiments towards living in such conditions, hence the decision to market this digital listing.
“I have lived in some pretty terrible New York apartments, featuring mice, leaky ceilings, and a shower in the kitchen,” said Coinage Host Zack Guzmán. “If that can sell in New York, we wanted to see if it would sell in the metaverse.”
More Metaverse Real Estate Platforms
Several real estate giants are divvying out the pixels in the Metaverse home markets. In this industry, buying land is just as valuable as “physical” home assets, given the potential for scaling the space into monetizable assets such as real estate or commercial properties. New firms are cropping up all the time, including these powerhouses in present — and future — Meta happenings.
Decentraland: The rat-infested NYC listing exists in this virtual sphere. Touted as “the first-ever virtual world owned by its users,” the platform contains Acura showrooms, Sotheby’s art galleries, Nike merchandise and pizzas from Domino’s, among other services.
RobotEra: This metaverse is an emulation of our current planet, with seven continents and monetizable land plots. At time of writing, tokens are only available for presale.
Real Estate Investment Club: One of the highest-quality universes has the same talent that worked on Grand Theft Auto and other popular gaming platforms curating the graphics.
Sandbox: Use $SAND tokens to purchase LAND pixels in this metaverse. Sandbox is the home of Snoop Dogg’s property and associated avatars, and the entity oversaw one of the largest transactions for commercial property in February 2022.
Somnium: Somnium partners with OpenSea, a platform specializing in goods that is real estate-friendly. Like its conglomerates, Somnium exists on the Ethereum blockchain.
Consider These Wacky Properties and Land Plots
Owning parts of the Metaverse is an adventure that’s attainable for the average Internet home buyer. Head online to check out assets for rent, sale and viewing such as:
Easter Island heads: Rapa Nui has a plot of land for sale by Te Moai restaurant for over $12k USD.
A mansion: ONE Sotheby’s put an 11,000 soiree-foot mansion up for sale on the Metaverse in early 2022.
Crystal Tower: Felipe Escudero, an Ecuadorian architect, plans to erect a nearly 550-foot tall observation deck in the Metaverse.
In The Market for Meta Real Estate?
Like physical assets, buying property through the Metaverse involves going through a real estate agent. For a DIY adventure, apps like SuperWorld make purchasing NFT assets a reality all over the world. Popular cities like Lisbon and Moscow have grids for sale, as well as remote regions like Antarctica and Easter Island, most for sky-high values.
For inquiries regarding the new NYC apartment, contact Coinage.media or Stephanie Turk.