As we progress to the next generation of the internet with Web3 and the metaverse, several disciplines such as architecture, design and real estate stand to change. Technological innovations create exciting new possibilities for digital real estate, leasing, advertising and anyone building in the metaverse.
For architects, the metaverse is a place where they can push formal boundaries and redefine what “space” means. It provides an opportunity for them to share unbuilt designs, expand their RFP process to all corners of the earth and increase the value of digital property.
What is metaverse architecture?
Metaverse architecture refers to designing structures in the metaverse, an immersive digital universe where people can interact with 3D models virtually. In the metaverse, architects typically reimagine existing structures in the digital realm — be it buildings, monuments or your favorite work desk.
In a way, it extends what we’re already doing — creating 3D models to guide what we’ll be creating in the real world. The key difference is while traditional architecture focuses on providing shelter and making life as easy as possible, metaverse architecture focuses on open-source, form, geometry and pure creativity — not confined to realism. And with the metaverse, these models no longer just sit on 3D software — they are being seen and used by the world.
Who are the creators?
Architects play a key role in conceptualizing experiences that mirror and improve real-world designs. Physical restrictions like gravity no longer constrain them — we could have movable furniture or a room that expands to a party hall when needed. The possibilities are endless.
Game design is one of the most important aspects of blockchain games. Designers are responsible for creating virtual environments and gameplay that users enjoy. This challenge becomes even more complex in the metaverse. Designers need to go beyond gaming and focus on creating stories that unify both virtual and real experiences. For example, games where players can interact with virtual avatars of their friends, exactly how they do in the real world through virtual reality.
With the rise of non-fungible tokens (NFTs), content creators and artists can now take control of their work and connect directly with investors. Introducing the metaverse to this mix could add another dimension to content creation.
For instance, musicians could hold virtual concerts in metaverse buildings where the entry pass could be an NFT. Similarly, metaverse creators could create NFT art to decorate virtual homes and sell them without any geographical limitations.
Real estate developers
In contrast to traditional real estate, ownership in the metaverse is designed to be transferable, absolute and involve far less paperwork. Some professionals are considering buying metaverse land in the same vein as the opportunity to buy real estate in Manhattan 250 years ago. Virtual land could very well be a way to invest in a new real estate game ahead of your peers, with incredible growth prospects.
The technology powering the metaverse
Digital twins represent a physical asset virtually by using connected sources of information such as drone data, sensors, etc, to mirror real-life structures. This data can be used to create immersive open-source cities that emulate and enable advanced decision-making.
The most exciting part of a digital twin is its ability to evolve and adapt based on user requirements on a moment’s notice. Interestingly, creators already achieved some aspects of this reality — most recently with replicas of Shanghai and Singapore.
Metaverse creators are increasingly finding ways to integrate this technology into their virtual environments. For example, Realio, a blockchain based private equity platform, plans to launch the realioVerse – a digital twin creatively branded as a fork of the real world. It is an open-source city environment that enables you to buy, sell and build on land parcels in all major cities across virtual earth.
It provides new value for collaboration and design for architects around the world.
Using digital twins in the metaverse could radically change how users interact with brands and businesses. For instance, consumers could just walk into virtual stores to try on new fashion on their realistic 3D avatars. Similarly, workshops can be held in shared virtual rooms where people can interact with the equipment virtually, no matter where they are located geographically.
AR cloud technology
Architects can also use augmented reality (AR) cloud technology to interface digital twins with the real world. Through AR, data can be overlaid onto real surfaces such as a tablet or smartphone, allowing for better visualization. In addition, smart glasses could further augment data onto the digital twin to provide real-time updates while interacting with it.
With the growing repository of global data, visualizing it becomes increasingly complex. This is mainly due to the limitations of our current visualization and reporting tools — we just don’t have the means to integrate six different data sources and make sense of it.
Using the Web3 metaverse provides the ability to see multiple dimensions of data simultaneously and can be interacted with from standard devices. Users can also opt for virtual reality (VR) headsets to drive a more collaborative environment free from distractions. Deriving actionable customer insights from this level of data visualization can unlock the next level of innovation.
Designing buildings in the metaverse
Designing for the metaverse requires a shift in perspective and learning new skills. The metaverse encompasses many different layers of technology, such as 3D modeling, AR cloud technology, character design, NFTs, blockchain, geospatial mapping, and so on. This would open up the meaning of “architecture” to a far broader group of new and different specializations and talents.
In a metaverse built specifically for creators, the realioVerse encourages architects to utilize unique tools and virtual spaces built for their specialization, to make the design and development process more straightforward. Its native decentralized technology allows you to iterate and design quickly, while ensuring complete ownership over your creations. You can unlock your imagination and monetize your creations, easily and collaboratively.
The future business models of metaverse architecture
Companies such as Sandbox and Decentraland have made significant strides in their attempts to create in the metaverse complete with virtual economies and NFTs. These virtual economies are powered by smart contracts, usually native to that specific metaverse. However, the concept of a metaverse is too vast to be restricted to one particular company or product. That’s where a smart monetization modeling comes in. A good business model would be a multiverse marketplace where NFTs and tokens can be monetized across metaverses.
Just as the cost of living in New York City is higher than that of Minnesota, land parcels become as valuable as the demand for that specific metaverse.
We know — that’s not very tangible. What happens if Nike decides to sell their land in the Sandbox and move elsewhere? Land value could go down just as fast as it went up.
This is why metaverse tokenomics are important. The realioVerse plans to introduce a new approach that addresses these land price volatility concerns. They will institute what is called the realioVerse Land Bank that backs every parcel of land with a percentage of total land sales. RealioVerse hopes that as this scales with increased activity, it will ensure it maintains an intrinsic and consistent value for its land holders.
Along with the perceived value based on the “locality” of your metaverse land, design also plays an important role. Like villas and beachfront properties can demand higher prices, land with custom designs can generate higher rental revenue from people who want to extend their lavish lifestyle to the metaverse.
Naturally, as there is more demand for land plots in that metaverse, the land value would also increase over time. These sales could generate profits for both the land owner and the parent company through royalties.
Building the metaverse one brick at a time
The vision and definition of the metaverse are constantly evolving. While social gamification has been a key component, the industry needs real-world applications to scale beyond an audience of gamers. The realioVerse could be one of the first platforms to successfully capture the imagination of architects and provide them with the tools they need to launch a new virtual economy. They are at an early stage of development but have a subscriber list for all announcements and updates. Much of their success and any other attempts at forking the real world depends on the integration of technological advancements in digital twin 3D modeling and the augmented reality cloud.
This content is sponsored by Realio.