According to Ali Sajwani, managing director of the real estate property firm DAMAC Properties, his company plans to introduce a metaverse project in March. If it goes forward, the project will be a first for the London Stock Exchange-listed property developer.
Sajwani’s announcement of the company’s intended push into the metaverse comes only a few weeks after an online poll he conducted suggested that real estate is likely to be the first industry to use non-fungible tokens (NFTs). The revelation came just a few days after Sajwani was said to have bought a plot in the Sandbox metaverse.
He said that DAMAC has already developed a solution to link the real estate developer’s many platforms, which vary from real estate to fashion and jewellery. According to Sajwani, the goal is to introduce them into the metaverse.
In addition to driving DAMAC’s metaverse plan, the Unlock Media report said that Sajwani had purchased 10% of the CBWC’s token supply. According to the report, the managing director was intrigued by CBWC’s art and “started to work with them to add utility to the NFTs and help build the roadmap.”