Jolly Harbour, Antigua, March 18, 2021 (GLOBE NEWSWIRE) -- Metaverse Group, the holding company behind Metaverse Property, announces its intent to launch Metaverse REIT, the first real estate investment trust (REIT) focused solely on Metaverse land assets. Metaverse REIT plans to own and operate a portfolio of high-quality development properties in Decentraland, Somnium Space, Crypto Voxels, Sandbox, Upland and other commercially viable Metaverses. It is Metaverse Group’s intent for this to be the world’s first 100% Metaverse REIT.
With burgeoning demand for NFT’s and Metaverse land assets, the founders of Metaverse Property, Michael Gord and Jason Cassidy, are championing the push towards the adoption of a REIT model for Metaverse land assets to make the asset class more attractive to a more traditional institutional audience. Both are well-known entrepreneurs in the crypto sector who have significant experience with the Metaverse and NFT assets and have been involved in the non-fungible token (NFT) space since its inception several years ago. The REIT will receive further support as a part of the portfolio of DLT ASA, the publicly-listed digital asset and blockchain network, and its founders, David Johnston and James Haft.
Metaverse REIT is committed to providing predictable and sustainable distributions while maximizing value through building the foundation and developing the Metaverse economy globally.
Cassidy puts the opportunity and the importance of this offering into perspective:
“Being the first company to focus on and cater to the burgeoning virtual real estate market for the Metaverses means a lot to us. The barrier to entry into this fascinating new sector this early on is quite high. Understanding the technology, the security around the NFT assets and the idiosyncrasies around what property to buy in what Metaverse can be daunting.
Metaverse REIT plans to be the first offering to come to market to lower that barrier of entry for larger developers who want exposure to Metaverse but don’t know where to start. Now, a savvy investor can get direct access to some of the very best virtual real estate in the Metaverses through our portfolio”.
The intent is for the fund to be run in a similar fashion to traditional REITs in the physical real estate market yet tailored to the unique aspects of the virtual real estate sector with an NFT token to represent a percentage of the portfolio’s assets under management (AUM).
For Gord, the fund is critically important in facilitating the virtual real estate sector growth:
“These type offerings are required to help bring the Metaverse into the mainstream consciousness of the public. While we aren’t quite yet at the Ready Player One level with the user experience, Metaverses truly do give the user the freedom to create, explore, have fun and engage in various types of business all in one virtual space. The early days of this sector are about building a foundation, Jason and I feel passionately about being the people to bring that quality offering to market that the industry very much needs to move this narrative forward.”.
The founders share a passion for physical real estate as well, so the ability to take those experiences and apply some of that transferable knowledge to the virtual space is key. With both Cassidy and Gord being early adopters of blockchain technology, having a combined fifteen-plus years experience in a very young industry also helped put the pieces into place.
The group currently holds a multi million dollar portfolio of Metaverse NFT land assets that they intend to include in the REIT and anticipate offering investors returns through capital appreciation of the assets, income generation of businesses built on the NFT land assets and eventually the intent to offer dividends. The focus early on will be to continue to acquire top properties and to develop them in various unique ways to begin to form reliable revenue streams. We expect that, as the Metaverse sector grows in the coming years, so too will the REIT.
About Metaverse Group:
Metaverse Group is the parent holding company behind several Metaverse-focused enterprises including Metaverse REIT and Metaverse Property. The focus behind Metaverse Group is to offer well structured solutions for each key piece of the virtual world so that humanity can be safely on-boarded into the final frontier of technology. For more information, please visit: www.metaversegroup.io
This press release is provided for informational purposes only and is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities of Metaverse Group, Metaverse Properties, or of any other issuer, nor shall there be any sale of securities in any jurisdiction unless the sale occurs in accordance with the applicable laws and regulations of that jurisdiction.
The press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media contact:
Robert Penington
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