Yas Island, Aldar to Launch Metaverse in 2023, Virtual Real Estate for Sale

Real estate in the metaverse has attracted significant investor attention, with virtual real estate being sold in the form of non-fungible tokens (NFTs). Real estate properties in metaverse can be used for a wide range of purposes including party gatherings, NFT shows or even concerts.

Beyond real estate, metaverse technology has been pointed to as the future for other industries. In education, the metaverse and virtual reality technology could dramatically evolve teaching processes and methods, while in fashion, digital-only clothing is already on sale, with some influencers spending thousands of dollars on virtual reality clothing.

Yas Island is a tourist destination project under development in Abu Dhabi, and is already home to several attractions including Ferrari World, Yas Waterworld, and the Yas Marina circuit – home of the Formula 1 Abu Dhabi Grand Prix.

In August, Aldar launched the $313 million Yas Park Gate project, a residential development including 508 new homes over 255,000 sqm. Earlier this year, real estate developer Miral also announced it would be bringing SeaWorld to Yas Island.