It is Now Quite Difficult to talk about the Market Value for the Purchase of Land in Metaverse
When social media giant Facebook has changed its name to Meta, land investments in the metaverse world gained great momentum. The prices, which were low when the first land sales started, soon became competitive with the world. Baki Budakoglu, Chairman of Denge Degerleme, said: “it is actually difficult to talk about the Market Value as there is not a regulated market as well as a conscious buyer/seller group in Metaverse at the moment. While the private space tourism era has begun, we will see by the time that how right to buy a land with the expectation of bringing the life between the four walls of the Earth to Metaverse”.
Chairman of Denge Degerleme Baki Budakoglu, one of the veterans in the real estate sector, said: “It seems that at this early stage of the metaverse virtual universe, it would be more realistic to talk about the prices set by only sellers, rather than the perception of value. At this point, if the relationship between the investment decision and a value basis is to be established, this can only be expressed with Investment Value, albeit with some force“.
IT IS NOW QUITE DIFFICULT TO TALK ABOUT THE MARKET VALUE FOR THE PURCHASE OF LAND IN METAVERSE
Budakoglu said “it is actually difficult to talk about the Market Value as there is not a regulated market as well as a conscious buyer/seller group in Metaverse at the moment“ and added: “First of all, the issues such as how the item to be purchased as land will be used, what kind of benefits it will provide, etc. are not clear yet. For example, what kind of benefit can be gained by investing in land? You might think that it can be sold by constructing a house on it or you can keep it with a nice interior decoration. In that case, will the investment be to open a second home and bear the expenses? As the era of private space tourism has begun, will it attract as much attention as expected to bring life within the four walls of Earth to the Metaverse? Similarly, in the investments made in real estates located near certain centers or on the main street, is it to be hoped that synergy will be created by considering population density and ease of transportation, as in this world? There are many questions to be answered”.
THE TALENT OF THE UNIVERSE WHERE THE VIRTUAL LAND IS APPRAISED WILL BE DECISIVE
Stating that real properties come to the mind when talking about valuation, however, as Denge Degerleme, they offer valuation services in many fields such as companies, machinery, facilities, vehicles, insurance, and legal processes in addition to real properties, Baki Budakoğlu said “It is made on the basis of the situation, risk perception and expectations for those persons, institutions and enterprises for which a valuation is made. Thus, the investment value of the same property that will represent different real persons, institutions or enterprises as buyers may vary according to the differences in expectations and risk perceptions. It seems that the features and capabilities of the environment in which a virtual universe is designed, where the virtual land is located, will be among the determining factors in the formation and preservation of the value of the land and its positive or negative changes in the future”.
According to the determinations of Baki Budakoglu, Chairman of Denge Degerleme, he expressed the parameters that he predicted to determine its value as follows:
About Denge Gayrimenkul Değerleme ve Danışmanlık A.Ş.
Denge Valuation, which has been providing valuation services in the field of real estate since 2005, has been authorized by the CMB (Capital Market Board) and the BRSA (Banking Regulation and Supervision Agency). With all the reports it prepares are valid worldwide, Denge Degerleme became the first Turkish company to operate abroad by opening a branch in the Netherlands in 2018. The company, which became accredited to RICS Royal Institute of Chartered Surveyors in 2020 and became Turkish Representative of European Valuers Alliance, awarded the “Excellence in Quality” at the Leaders’ Submit held in London while Baki Budakoglu, Chairman of the Board, was awarded as the ‘Manager of the Year’.
The company provides service in the fields of Real Estate Valuation, Urban Transformation Service, Valuation for Collateral Purposes, Title Deed Valuation For Foreigners, Valuation for Legal Processes, Tangible Fixed Asset Valuation, Construction Level Progress Tracking, Machinery-Equipment, Vehicle Valuation, Facility Valuation, Insurance Valuation, Company Valuation, Insurance Risk Analysis, Market Survey Report, Investment Consultancy, Effective and Efficient Use Analysis, Investment Consultancy, Reactivation Report For Real Estate, Location Analysis, Corporate Real Estate Management Consultancy, Feasibility Studies, and Lease Value Assessment Report.