Ex-global real estate executive aims to build the Zillow of the Metaverse

LONDON - Rezul -- After the best part of two decades in global real estate, working for names such as CBRE and Savills, Joel Coren noticed two things. Firstly, the real estate industry moved too slowly for its own good.

"Too many transactions suffered from inefficiency and slippage,

or worse, never came to fruition because of a lack of tech innovation".

He also noticed that Web 3 technologies could be the solution.

As the Metaverse rose into public consciousness at the end of 2021, Joel saw that it could do much of what was missing in the traditional real estate sector. "And so, VerseProp was born. It's core aim; to make investing in the Metaverse as straightforward and professional as possible. For those less familiar, Metaverse land is a virtual plot of a 3D, virtual world like The Sandbox or Decentraland.

A year later it would have some of the biggest names in the UK real estate industry backing the platform, including Prestbury Investment Chairman Nick Leslau, CBRE Executive Director Franco Sidoli, Anacott Capital MD James Lapushner and M7 Real Estate Chairman Richard Croft. The UK investor contingent is joined by established Middle Eastern investors from Saudi Arabia and Jordan: Abdulraouf Albitar and the Bilbeisi family.

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In Joel's words:

"Traditional real estate markets take time to change."

So whilst it continues to engage with global real estate leaders on the wider applications of blockchain technology, VerseProp is addressing the absence of a professional service led platform in the burgeoning metaverse land market -  $2bn of transaction volume was recorded in 2022 (https://www.paymentscardsandmobile.com/billions-of-dollars-being-spent-by-individuals-and-corporation-in-metaverse-land-grab/) and it is estimated to grow by over $5bn by 2026 (https://www.prnewswire.com/news-releases/metaverse-real-estate-market-to-grow-by-usd-5-37-billion-from-2021-to-2026-driven-by-growing-popularity-of-mixed-reality--cryptocurrency-technavio-301527207.html). The industry currently lacks the kind of buying experience, reliable analytics, and expert guidance that you'd want if you were investing meaningful sums. Or, to put it another way, metaverse real estate was missing out on the attention it deserved from professionals that know what serious investors and businesses require.

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Joel assembled a team of skilled Web 3 devs to create a platform that allows users to trade metaverse real estate with as little friction as possible. Its UI provides all the data users need to make informed investment decisions, like price history and insights on value for money in relation to market factors and land location. The advisory service - launching later in Q2 - will provide specific, 1-on-1 guidance on where the best deals can be found, what different metaverses offer, and more. This service was designed specifically to address a challenge that many people might have when looking at investing in the Metaverse; they're curious but they're not quite sure where to start.