Metaverse real estate is real — and up for sale by The Row
The members-only metaverse community aims to be “the most high profile real estate development across many metaverses,” starting with these 30 properties.
There may soon be a new type of homeowner’s association to report to. Real estate firm The Alexander Team has teamed up with Everyrealm, a metaverse real estate development firm, to launch a members-only metaverse community featuring 30 virtual properties. Dubbed “The Row” — not to be confused with Mary-Kate and Ashley Olsen’s fashion line of the same name — the project boasts architecture designed by a variety of talented artists.
“The metaverse has no physics, no weather, and no limitations other than human ingenuity,” Everyrealm CEO Jannie Yorio said in a press release. “The Row brings together visionary artists best known for their architectural landscapes and collectors seeking a unique, limited edition residence that they can deploy across many different metaverses over time.”
Physics-bending properties — The Row’s virtual properties were designed by artists Daniel Arsham, Misha Kahn, Andrés Reisinger, and Alexis Christodolou, as well as design studios Six N Five and Hard Architects. Their digital creations range from glass box houses to buildings that respond to the (virtual) sun throughout the day.
Arsham’s “Ares House” design features a home built inside a sculpture of its namesake, the Greek god of war. As the creative ambassador for Everyrealm and founder of Snarkitecture, a New York-based collaborative design practice, Arsham already had experience with physical works, interior design, and NFTs.
“In the metaverse, one does not need to adhere to the many constraints that exist when creating spaces, exhibitions, and art works in the physical world,” said Arsham in a statement. “When designing for The Row, I considered how my sculptures would appear from inside this unique piece of architecture. I explored the possibility of seasonality; how I might be able to alter the seasons, and how the design could remain in existence in both a daytime or a nighttime environment forever.” Arsham designed five different versions of Ares House, each based on the changing colors of its exterior during different seasons.
Not-so-real estate — Each of The Row’s properties has been labeled a “3D architectural landmark” and will be sold as one-of-one NFTs later this year. All of the virtual buildings are available on an invite-only basis through an application process on The Row’s website. As of now, The Row’s initial offerings will be hosted by metaverse world-building platform Mona, with a future goal of deploying the virtual building across the different metaverse platforms.
Despite its cyber setup, The Row’s real estate is meant to match the level of curation, exclusivity, and value as the physical real estate owned by The Alexander Team’s clients. The real estate firm — which already touts high-profile customers and collectible-level properties in real life — aims to make The Row “the most high profile real estate development across many metaverses,” according to a statement. More virtual landmarks are expected to come from the project in the coming months.