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MONDAY, May 29, 2023
Top Thai developers eyeing virtual land in Bangkokverse

Top Thai developers eyeing virtual land in Bangkokverse

MONDAY, April 04, 2022

Nine real-estate developers in Thailand are negotiating the purchase of land in Bangkokverse in a bid to boost their presence in the metaverse.

Bangkokverse is the first metaverse platform developed by top Thai 3D creators, namely DOF, DECMedia, OwlStudio and Jom3D, who have worked to make the virtual city and buildings look as real as possible.

In an article published on Monday, Thansettakij media platform said nine developers – AssetWise, Frasers Property (Thailand), Raimon Land, Charn Issara Development, Eastern Star Real Estate, Grand Unity Development, Origin Property, SCOPE and TCC Assets – were studying and negotiating the purchase of virtual land.

As per the Bangkokverse master plan, a total virtual area of 876 rai divided into 848 plots is up for sale. However, the “superblock” or a prime area located next to a big park only has eight plots.

It is believed that the developers will use this as an opportunity to give Thailand’s real-estate world a brand-new facet. Though the price of these virtual plots has not been revealed, it is expected to be high and may rise in the future if the platform is successful.

Developers of Bangkokverse say the virtual city is expected to open in the third quarter of this year.

Thansettakij reckons Bangkokverse will transform Thailand’s property market, though some observers believe it is just a new trend that will possibly die down soon.