This will be exciting, a mall in the metaverse.

In the metaverse, there's now a mall?

Metamall is a metaverse platform that allows users to buy, own, build, and develop virtual real estate while also staking non-fungible tokens (NFTs).

When Metamall launches in April, it will contain around 20 companies, ranging from huge anchor stores to leading cosmetic names. In the following six months, the goal is to raise the number of brands to 200 to 250. Metamall, according to Ray Gianchandani, will be a multi-purpose shopping mall with office spaces and distinct gaming zones. He described it as "basically a city where you can be a passive investor, own real estate, and receive revenue from it." The cost of owning a piece of real estate ranges from $225 for a 900-square-foot room to $27,000 for a huge location.

"We are the project's creators," Ray explained, adding that the company will sell the land but not operate it. "I would have had rights and licensing to Age of Empires if I had built it." However, because this is a distributed app, there may be 20,000 plots of land available, and if you buy two of them, you will have that governance right."

"Each space is an NFT with a unique number." You must go to the marketplace if you wish to sell it. People would acquire and pay for space based on demand," Gianchandani added. Ray added, "It's a code." "If we provide that key to someone and he has it, he can transfer it to someone else, and there is a process in place when we do so." We actually don't have any right over there once that happens," he explained.

Gianchandani concedes that corporations that invest early in metaverse now perceive it as more of a branding and public relations exercise, but they also recognize that if they wait too long, it will be a pricey affair.