Facebook’s recent announcement on their name change has received various responses, many of which have been criticisms. Their company has gone from a social network to becoming a Metaverse Company. The definition of a metaverse is: “the hypothesized next iteration of the internet, supporting decentralized, persistent online 3-D virtual environments.” Decentralization is the primary concept to take from this.  We will be looking at a real-world battle between a private company, META and Decentraland, created on the Ethereum blockchain.

How It Will Impact Our Industry

You are not alone if you are left wondering how this will affect the multifamily industry. We need to analyze major internet trends that shift prospective residents’ time online. And by doing so, it is essential as multifamily marketers to know the platforms these users are utilizing. We can use these technologies and performances in our favor. 

The Virtual World

The world went completely digital in 2020. And now, we interact with one another daily in the metaverse by Zoom or a Virtual Reality headset. Our virtual worlds have ways to buy virtual plots of land to build anything desired. Land sales in these virtual worlds have reached vast numbers, almost topping a million dollars. People can now purchase virtual plots of land, but you can also rent them. You can make constant cash flow with the native crypto token Mana by leasing the land raw or fully built out. An individual can also cash in by running a virtual business like a casino or a non-fungible token (NFT) store. For future generations, collecting digital collectibles will be a widespread hobby and living more in these virtual worlds. 

As marketers in the multifamily industry, how can we use these technologies to promote your communities in the future? We understand that the skies are the limit with endless possibilities with a unique piece of augmented reality NFT Art. This type of NFT exchange will soon be in each community as tokens for social engagement.

A significant consideration more prominent multifamily companies should invest in is a virtual plot of land. With this, they can create a virtual leasing experience in metaverse marketing for all of their communities. Embrace the change to ensure your communities do not get left behind in the metaverse. Give our team at Apartment SEO a call for further questions about this swift change in marketing. Get the chance to see how it can positively affect your community.