Digital Yachts and $2.4 Million Virtual Plots: Power Brokers to Sell the Metaverse

Oren and Tal Alexander, two of Douglas Elliman’s top luxury agents, are expanding their reach into the virtual real estate metaverse.

Two of New York’s most accomplished luxury brokers are taking their talents to a new frontier – the virtual world of blockchain real estate.

Douglas Elliman’s Tal Alexander and Oren Alexander are teaming up with metaverse developer Republic Realm on a planned virtual real estate brand that spans at least three so-called “metaverse” platforms, The real deal reports.

The partners will develop and sell virtual real estate branded as The Alexander Team in the blockchain worlds of Decentraland, The Sandbox and at least one other metaverse, according to the report.

“We strongly believe in this metaverse digital real estate world,” Oren Alexander told the publication. “The world has changed, society has changed people – especially the younger generation, who not only play in the digital world, but to some extent live in the digital world.”

How does this work?

In a metaverse, virtual assets – such as digital goods or plots of land – can be bought and sold with cryptocurrency by creating unique blockchain tokens called NFTs.

Although this virtual earth does not exist outside of a computer, it can be developed in the digital world and resold to other buyers, provided someone is willing to pay for it.

The Alexanders, who own virtual real estate assets themselves, are the latest to announce their involvement in a growing trend that some are betting will take off further as big companies, including Facebook, create their own online metaverse worlds.

“They understand that if you get there early, something like the Metaverse can be extremely profitable,” Republic Realm co-founder Janine Yorio said. The real deal.

The brothers’ personal interest in the metaverse prompted them to take this step, along with interest from existing customers, Alexander told the publication. They plan to market virtual mansions and other properties to their real customers as part of the deal, he said.

In blockchain enthusiast circles, Republic Realm is known for its Fantasy Islands developments in The Sandbox metaverse. Most recently, the company purchased $4.3 million worth of virtual real estate and sold a virtual yacht for the equivalent of $650,000.

The Alexanders’ involvement in this venture is separate from their work with Douglas Elliman. According to The real deal.

The brokerage did not immediately respond to a request for comment from Inman. But as they turn their attention to metaverse deals, the brothers should target “trophy properties” in prime virtual locations, the report says.

Other companies have entered this space as well. Just last week, the crypto site Tokens.com bought virtual land in the Decentraland metaverse for $2.4 million worth of cryptocurrency.

Email Daniel Houston