Buying virtual properties on Madeira Island is now possible in the metaverse

The so-called metaverse has arrived to the real estate and is expanding at such a rapid pace that it has even reached the Madeira Island.

30 Sep 2022 min de leitura

There is a trend that is gaining traction around the world: the marketing of virtual houses and land. The so-called metaverse has arrived in real estate and is expanding at such a rapid pace that it has even reached Madeira Island. Madalia World is the virtual twin of the Madeira Island and is also the first metaverse recognized by a government in the world.

With the creation of Madalia World, the name of the virtual world that created a “digital twin” of Madeira that has already been recognized by the Regional Government of Madeira, it is now possible to buy virtual plots on Madeira Island. This is one of the greatest trends in the world of technology, where digital worlds are created, which may or may not be inspired by reality.

The fact that a digital world like Madalia is recognized by the government, in this case regional, is unprecedented, but there is more, in collaboration with the Regional Government of Madeira, it is possible to issue virtual construction permits. In this way, it is possible to build and decorate houses in this digital version where there are already 500 plots for sale and they cost at least 1.500 euros.

With this collaboration between Madalia World and the Madeiran Executive, it is now possible to explore Madeira in a completely new way: “Madalia World is a virtual world that incorporates a 'digital twin' of Madeira (this island is the virtual twin of Madeira) that accurately represents the real locations of the island, as well as its real and finite dimension”, they explain in a statement sent to newsrooms.

How much does it cost to buy virtual properties in Madeira?

The person responsible for granting and creating virtual experiences in the meta-verso of Madeira was Exclusible, a start-up based in Portugal, which is now committed to marketing the 500 plots of land that make up Madalia World, which are divided into:

- 34 plots of 9 hectares worth 28 ETH (OTC), around 40 thousand euros each;

- 89 plots of 3 hectares worth 13 ETH (OTC), around 18 thousand euros each;

- 144 plots of one hectare cost 5 ETH (Random Minting), around 8 thousand euros each;

- And 233 parcels of 2 thousand square meters cost 1 ETH (Random Minting), around 1,600 euros each.

Exclusible

These digital lands were offered for sale on September 28, in NFT (non-fungible token), in a collection called “Pioneers Collection”. It should be noted that approximately 10% of the net amount invested will be delivered to a government agency responsible for the conservation and preservation of the environment.

Buy and build at Madalia World: what changes in the meta verse

By acquiring a virtual land, it is possible to create and live experiences with real landscapes, even if they are represented virtually. In short, in Madalia's digital world it is possible to:

- Construction in areas certified and protected by UNESCO;

- Use construction kits applicable to the virtual plot;

- Decorate the interior and exterior of constructions with NFTs you already own or can be acquired;

- Build vertically and divide, sell or lease the land;

- Create business and buy commercial licenses for this digital world.

“Whoever owns one of the 500 exclusive plots of the first release will also have early access to Immersive Entertainment related to the Madalia IP, all Madalia public event ticket sales and all future Virtual Real Estate & NFT Drops sales from Madalia. Exclusible, as well as access to purchase tickets to Madalia's exclusive annual gala and a 'tree party' invitation to plant one of 500 trees to offset the carbon footprint of mint and NFT transactions,” explains Candy Flores de Freitas, founder and CEO of Dimmersions, a company focused on creating virtual reality and augmented reality solutions that make up Madalia.

Since this virtual world has a real connection with Madeira, it is also possible that there is a relationship between the virtual and physical dimensions. And that's why Exclusible encourages owners to visit their property in Madeira and explore their properties using augmented reality in a virtual environment in the real world.

Madalia World is the latest project from the start-up Exclusible, which has already been involved, for example, in the creation of Penthouses on the Spatial platform and, in total, generated more than 5 million euros in projects used exclusively in the metaverse. “With the launch of Madalia, we have increased our presence in the real estate and luxury market segment, and we will continue to understand where the Web3 community wants to be and what experiences they are looking for”, explains Thibault Launay, CEO of Exclusible.

Adapted from Idealista