Podcast Episode Details
Back to Podcast Episodes
What is Virtual Real Estate and Why Do I Care?
Episode 856
Virtual real estate isn't something you can stomp on, but it has become wildly popular among a certain subset of people and investors. Some of these virtual spaces are so desirable, they come with big price tags and are multiplying in value to six-figure amounts. But exactly what is virtual real estate and why should we care.
In this episode, Janine Yorio will simplify the idea of virtual real estate and the metaverse where it exists. She'll explain how it all works, who's involved, why people are paying top dollar for virtual properties, and what this all means for our future. (Hint: She claims it'll be intrinsic to our existence as the next step beyond the internet.
Janine is the co-president at metaverse innovation and investment platform, Republic Realm. She previously worked as CEO of fintech company Compound, which focused on real estate investing, and was bought by Republic in 2020. She has also worked in private equity for Northstar Capital and in real estate and hotel development at The Standard Hotels. She's a graduate of Yale University. She can be reached at janine@republicrealm.com.
You can also check out new trends in three-dimensional fee simple real estate by joining our network RealWealth, for free, at realwealthshow.com. As a member, you'll have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.
And please remember to subscribe to our podcast and leave a review if you like what you hear! Thank you!
TRANSCRIPT
[music]
[00:00:00]
Narrator: You're listening to the Real Wealth Show with Kathy Fettke, the real estate investors resource. [silence]
Kathy Fettke: I've got some good news for you here today. If you can't afford to buy real real estate, perhaps you could look into virtual real estate. I'm Kathy Fettke and welcome to the Real Wealth Show. Virtual real estate you ask? Apparently, there's a market for it, and it's an expensive one. Our guest today, Janine Yorio is the co-president at Republic Realm, a metaverse, innovation, and investment platform. She previously worked in private equity for Northstar Capital and in real estate and hotel development at the Standard Hotels.
She's a graduate of Yale University, and she's here with us on the Real Wealth Show today. Welcome, Janine. Let's start with what is virtual real estate. I cannot seem to grasp this concept.
Janine Yorio: Virtual real estate, at its simplest form, is real estate inside a video game. If you've ever played a video game, depending upon your age, maybe it was Super Mario Brothers, maybe if you're younger, it's Fortnite, there are games and there are spaces inside those games where when you're playing them, your avatar moves around and sees different things. Sometimes there are buildings, there are roads, there might be planets and spaceships, it really depends on the theme of the game.
The reason why digital real estate is now something we're even talking about or that you and I are talking about is because the digital real estate inside some games today is built on the blockchain, and as a result, the interest in investing in that real estate has achieved new highs, and people are now much more interested in it than they were when it was just traditional space inside a video game. Companies have been buying advertising inside video games for a long time now. You can go play Madden football or FIFA [00:02:00] World Cup, an
Published on 4 years, 1 month ago