FIRST ON PROFILE: Pinecrest Mansion Sells For Record $11.2 Million Complete With NFT Mansion In The Metaverse

Meta Residence, a new construction home in Pinecrest which launched in August 2022 as the world’s first-ever "MetaReal" Mansion, a real world new construction home being built in Miami with a digital twin in the Metaverse, has just sold in an all-cash transaction for $11.2 million. The sale marks it as the highest sale overall and highest price per square foot in Pinecrest at $1,335 PPSF. Michael Martinez and Kiki Rutten with ONE Sotheby’s International Realty represented the seller, while Martinez repped the undisclosed buyer.

Meta Residence is a collaboration between ONE Sotheby’s International Realty, Voxel Architects and general contractor and NFT collector Gabe Sierra of Sierra Development to develop the first real-world mansion being constructed in Miami with a virtual counterpart coming to life inside of The Sandbox metaverse. The purchaser receives both the NFT of the asset and the physical home.

Located on a 1+ acre within one of Miami’s most sought-after neighborhoods, the 11,000 square-foot newly built tropical estate features 7 bedrooms and 9 bathrooms. The home also a separate guest house with its own entrance and garage and a chef's dream kitchen with state-of-the-art appliances, accompanied by a wine cellar and a wet bar. The luxe master suite features a sitting room and a spa-like bath with a soothing soaking tub. The residence also offers panoramic outdoor views, highlighted by a resort-style pool, an inviting infinity spa, a covered terrace, a summer kitchen, and a sprawling yard. The virtual version is a mirror image of the property.

Images via 1OakStudios / ONE Sotheby's International Realty

Take A First Look At 'MetaReal' Mansion To Be Sold Via NFT As Real Home And Digital Twin In Metaverse

Meta Residence has revealed a first look of the world’s first-ever "MetaReal" Mansion, a real world new construction home being built in Miami with a digital twin in the Metaverse. ONE Sotheby’s International Realty and Voxel Architects have aligned with general contractor and NFT collector Gabe Sierra to build and sell Meta Residence, the first real-world mansion being constructed in Miami with a virtual counterpart coming to life inside of The Sandbox metaverse. The purchaser of the NFT asset will also acquire ownership rights of the physical home.

Located on a 1+ acre within one of Miami’s most sought-after neighborhoods, the 11,000 square-foot home will feature 7 bedrooms and 9 bathrooms. The virtual version will be a mirror image of the property.

Kiki Rutten and Michael Martinez with ONE Sotheby’s International Realty are the exclusive sales agents for the project and plan to execute the transaction on the Ethereum blockchain. The metaverse mansion is expected to list for auction in early 2023 with a yet to be disclosed reserve price.

Interested bidders can register to be approved for the pre mint list here: https://www.premint.xyz/meta-residence-one/

Renderings via Meta Residence

First-Ever MetaReal Mansion Under Construction In Both Miami And The Sandbox Metaverse

The first ever MetaReal mansion is currently under construction in both Miami in real life and in the Metaverse and is expected to fetch millions when it goes to auction. Meta Residence, ONE Sotheby’s International Realty and Voxel Architects have aligned to build and sell the first real-world mansion using NFT technology. The luxury mansion is being constructed in Miami with a virtual counterpart coming to life inside of The Sandbox metaverse. The purchaser of the NFT asset will also acquire ownership rights of the physical home.

“We are building a rare lifestyle experience that blurs the lines between the metaverse and reality,” said Gabe Sierra, President of the joint venture. “Never before has a project like this been delivered, and we are proud to offer the buyer of this NFT a once-in-a-lifetime opportunity to own the first MetaReal mansion ever created.”

Located on a 1+ acre within one of Miami’s most sought-after neighborhoods, the 11,000 square-foot home will feature 7 bedrooms and 9 bathrooms. The virtual version will be a mirror image of the property. Michael Martinez with ONE Sotheby’s International Realty is the exclusive sales agent for the project and plans to execute the transaction on the Ethereum blockchain. The metaverse mansion is expected to list for auction in 2022 with a yet to be disclosed reserve price.

“Being able to leverage my expertise to pair a homeowner with real and virtual property is something I never imagined being a part of, it’s exhilarating,” said Martinez, the top agent at ONE Sotheby’s International Realty. “We look forward to finding a buyer for this spectacular property and being involved in a momentous deal in this new era of homeownership.”

The joint venture has also acquired the equivalent of over 40 acres in the metaverse for future projects which may include homes, as well as commercial properties, marketing, and gaming endeavors.

“As a company we push boundaries and constantly evolve with the changing dynamics of the industry—always on the cutting-edge of real estate, art and technology. We believe that the metaverse will play a role in the future of real estate in one way or another,” said Daniel de la Vega, president of ONE Sotheby’s International Realty. “This deal represents a bold move to support our clientele where the real and virtual worlds converge, and we look forward to presenting the property to our unrivaled global network.”

The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain using $SAND, the main utility token of the platform. The Sandbox offers a wide range of exploration across its metaverse, consisting of 166,464 unique pieces of LAND, each belonging to a user. The Sandbox was founded in 2011 and has partnered with 60+ companies to develop content based on their IPs on the platform, including brands like Square Enix, ATARI, The Smurfs, Care Bears, and more.