Real Estate Investor Magazine started our journey in September 2007 when we launched our first print magazine at a time when print(and magazines) ruled the media landscape choice for readers and advertisers, alongside TV and radio who ruled the viewership roost.

Print magazines have become a diminutive for audiences who have lost interest in paying for print products that have moved to the Internet.

New technology is finding new and advanced applications as the costs and methods of content distribution intersects with audience demands. Magazines no longer feature on traditional advertiser media schedules as online started to grow their piece of the advertising pie significantly over the last 13 years.

Today REImag has completely transformed from a print magazine into an interactive digital magazine and online platform and now into the metaverse. The digitalisation shift to online and specifically content marketing and now metaverse has been significant.

What is Digitalisation?

Digitalisation is the process of converting information into a digital format. The result is the representation of an object, image, sound, document or signal by generating a series of numbers that describe a discrete set of points or samples. The real estate software sector has been the biggest beneficiary of innovative PropTech that has made an impact in the markets.

What is PropTech?

Property technology is the application and integration of information technology and platform economics to real estate markets. Some goals of real estate technology include reducing paperwork as well as making transactions quicker, more efficient, and more secure.

From print to digitalisation and real estate to ‘Proptech’ to the metaverse has taken a dramatic shift. The metaverse moment first started in 1992 with Neal Stephenson’s sci-fi movie called ‘Snow Crash’ with the idea of the convergence of physical, augmented, and virtual reality in an online space for people who wanted to escape the grim circumstances of a real world. Once a niche concept beloved of tech enthusiasts, the idea of a centralised virtual world, a “place” parallel to the physical world, has careened into the mainstream landscape this year.

In 2014 Facebook bought Oculus (manufacturers of VR headsets) for $2 billion. Mark Zuckerberg already predicted in 2014 that Facebook would move from a social media company to a metaverse company where people would share, “not just moments with friends online, but also entire experiences and adventures.”

The metaverse hype recently started gaining traction when Zuckerberg announced in October 2021 that the company he founded, Facebook, owners of social media platforms Facebook, Instagram, and WhatsApp, has been rebranded as Meta. And that they will have a new focus – to help bring the metaverse to life. Similarly, as REI is doing with you today.

Zuckerberg’s metaverse vision became public when he announced ambitious plans to build the “metaverse” — a virtual reality construct intended to supplant the Internet, merge virtual life with real-life and create endless new playgrounds for everyone. He promised, “You’re going to be able to do almost anything you can imagine.”

He says that “people don’t have to meet in physical spaces to be together, to feel present, collaborate or brainstorm. Meta envisions a future virtual world where digital avatars connect through work, travel, or entertainment like this and eventually using VR headsets. He also believes that the metaverse will even replace the internet as we know it. In fact, they are backing the initiative with tens of billions of dollars.

What is the metaverse

in most basic terms? Essentially, the metaverse is a Virtual- Reality (VR) space in where users can interact with a computer-generated environment and with other users (or their avatars). It is a highly immersive virtual world where people meet to work, socialise, play, shop and educate themselves.

SpatialWeb is one of the leaders in the metaverse developed by South African tech company Y-Dangle (owned by Eric Nienaber and Josh Fox). SpatialWeb is owned by US-based company Vatom Inc, but developed here in South Africa and is leading the metaverse space development charge. Nienaber says, “the metaverse is evolving fast at rate of knots on a daily basis as new functionalities are continually added to enhance and improve the space.”

Essentially, people working from anywhere can gather virtually on-demand in an immersive environment – as if in person. REI have already hosted 4 large conferences with over 500 people on SpatialWeb and now use the platform for business meetings instead of using the hackneyed static Zoom, Hangouts, and Teams technology which is causing ‘Zoom fatigue’ for remote workers.

The metaverse, and more specifically SpatialWeb, has a range of online 3D virtual environments in which people can play games, build things, socialise, work and even trade and earn crypto assets. Nienaber says it is difficult to define the metaverse as there are so many sub-sectors. At its core, the metaverse, also known to many as web3, is an evolution of our current Internet.

Interest in purely digital ownership has spiked dramatically, with non-fungible tokens (NFTs) and cryptocurrencies making headlines. Virtual productivity platforms are growing too, with Facebook and Microsoft announcing new ways to collaborate online.

READ MORE : A Practical POPIA Guide to Kickstart Your POPIA Compliance

What is an NFT?

NFT stands for “non-fungible token,” and can technically contain anything digital, including drawings, photos, animated GIFs, songs, or items in video games. Non-fungible means it is individual. The opposite, fungible, has examples of crypto currencies like bitcoin or etherium. One bitcoin can be swapped for another – they are identical.

So, in crypto an NFT is a digital asset that exists on a blockchain (a record of transactions kept on networked computers). The blockchain serves as a public ledger allowing anyone to verify  the NFT’s authenticity and public proof of ownership.

NFT’s are made by selecting the item, choosing your blockchain, setting up your digital wallet to transact, selecting your specific NFT marketplace such asOpensea.io, rarible.com, Axie Infinity.You then upload your file and final to start setting up the sales process to transact.

How SpatialWeb can add Value to your Business

The evolution of the web starteda static environment to a dynamic to semantic to spatial environment using VR and AR. SpatialWeb can be used by businesses in many ways and is applicable for events, gatherings, galleries, NFT campaigns, marketing and advertising, transacting and showcasing real estate, shopping and customer support, media, financial services, influencer, and fan engagement, discussion groups, meetups, religious practices, loyalty programs, museum and cultural tours, weddings, funerals, birthdays, lecturing, learning, classrooms, dating, therapy, and coaching to name a few.

Build your own 3D Metaverse REI provides the complete 3D build, customisation and optimisation of your branded virtual world, as well as technical support and training for your team. Don’t wait until it’s too late, join the Metaverse now.

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