Sector: Blockchain Awards
Aplicación: Large Corp
This project includes several phases of the construction process and commercialization of the real estate development. From the integration of the Alastria Network with our BIM (Building Information Modeling) or digital twin of a promotion, including the construction phase, to its sustainable commitment and pre-reservation in NFTS (Non-Fungible Token) as part of the commercialization process. We have created a new sales channel in the Metaverse, where we have designed and created a virtual building that can be easily and interactively explored and where you can access all the information about the Málaga Towers project, located in Málaga.
- Construction process: Digital Twin and BIM. Traceability, validation and registration in Blockchain of the documents that contain the evidence of the realization of the different phases of each project, validated by architects, construction companies, sustainability seals. Process efficiency. Transparency with the customer.
- Commercial process: Metaverse as a sales channel. Prereservation NFT.
This project includes several phases of the construction process of the real estate development Málaga Towers, BIM, NFT and Metaverse, below each one of the technologies based on Blockchain of these phases is explained:
BIM (Building Information Modeling) (*)
In Málaga Towers the implementation of BIM means controlling all the key milestones of the construction phases of the development (basic project, execution project, etc), validated by each responsible (architects, construction company, etc). These validations are certified and traced in Blockchain (RED ALASTRIA).
Sustainable Commitment (**)
Málaga Towers has the commitment to improve the constructive solutions to optimize energy consumption and guarantee comfort and enjoyment for the future owner.
NFT as “option to buy”.
Metrovacesa has made reservations for real homes using NFTs in the Málaga Towers development for a value of 2.2 million euros in 2022. Metrovacesa issued NFTs (non-fungible tokens), which represented the option to buy homes for a value of 27.4 million euros, becoming real reservations for a value higher than two million euros.
We have decided to test, being pioneers, that in this universe there is a new business model in which to demonstrate the desirability of buying a physical or virtual home, forms of payment and investment through tokens, and all this under the use of blockchain technology.
Metrovacesa, in collaboration with Datacasas Proptech, we have designed and created a virtual building in the metaverse (https://www.datacasas.com/meta) that can be easily and interactively explored by an avatar. Thus, future tenants of Málaga Tower will be able to visualize information about the project, assessing in detail the scope in which it is developed, the exact location and views of Málaga beach that they would have from a high-rise apartment. The alliance with Datacasas Proptech, Spanish proptech, has allowed us to design and create a virtual building that can be easily and interactively explored and where you can visualize information about the Málaga Towers project, located in Málaga, its 3D model, project videos and plans. In addition, the user can be attended by a virtual salesperson and know the next steps to reserve one of the homes, if the client requires it, in a 100% digital process. Any operation in metaverse is developed with virtual currencies, through ‘smart contracts’, as well as with NFTs (non-fungible tokens), that is, unique digital assets.
IDENTIFIED PROBLEM AND PROPOSED SOLUTION
This project solves the need of our buyers to have a 100% digital experience in buying a home, as well as having validated information on the progress of their development works.
From Metrovacesa we wanted to test the metaverse in the following lines:
- Analyze the desirability of a “native” user of the metaverse towards buying a physical or virtual home.
- Analyze the desirability of a traditional customer towards buying a virtual home in the metaverse.
- The metaverse as a sales aid tool (such as virtual reality, augmented reality, etc).
In addition, with this project and thanks to the integration of BIM with the Alastria Network, we ensure the complete traceability of the construction process through the unequivocal validation of each phase of the construction process, with a time stamp. These validations are carried out by third parties such as: architects, construction companies, etc., making the process more efficient and transparent with customers.
Metrovacesa continues experimenting and validating Blockchain technology (NFTs, smart contracts) and the metaverse as a new channel or a facilitator in the sales process of a home, both to native digital users or more traditional customers in a phygital environment, as is the case of this project.
Customers demand an agile and digital pre-reservation process for housing, the creation of NFTs, which represent the option to buy or pre-reserve these homes with attributes of each of the homes (plans, price information, 360º videos) solve this problem, as well as the creation of a platform in which metrovacesa makes these tokens available to customers.
- First national real estate project that integrates: Metaverse + NFT + BIM + Sustainability. Complete project that includes real estate development in Metaverse, first NFT reservations of Málaga Towers and said promotion in BIM and with sustainable commitment in one project.
- New sales channel: Metaverse. A new housing sale channel never tested before is opened, the metaverse.
- Democratization and closeness of Blockchain in the real estate sector: It helps to demystify blockchain technology and its practical application. We act as tractors in the sector, helping to understand technology.
- Scalable and low cost / Support for Spanish Startups:
- Scalable and low-cost initiative.
- Support for Spanish proptech startups.
- An increase in traffic to the web doubling the interest of users who access the content of the promotion.
- Increase calls by 50%
- Real sales attributable to innovation project with NFTs worth 2.2 million euros in 2022
- High impact on media
Real estate activity in metaverse is increasing and proof of this is that investments have been formalized in virtual land and buildings for a value higher than 500 million dollars in 2021, reaching 85 million dollars in January 2022 and with forecasts to reach 1,000 million dollars throughout the year. It is demonstrated that it is a scalable project with a promising future.
IMPACT ON SUSTAINABILITY
- BIM Technology (Building Information Modeling)
- Alastria Network
- NFTs (Open Sea)
- Metaverse Development in Decentraland