Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 10 in /home/dev/public_html/wp-content/themes/pru2.0/amp/single.php on line 52
Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 10 in /home/dev/public_html/wp-content/themes/pru2.0/amp/single.php on line 52
After a successful VC round on Unicrypt, MetaSpace Real Estate Investment Trust (MREIT) launches on PancakeSwap, decentralized exchange with over $2 billion of daily trading volume.
MREIT’s founder, Eric Klein, says that the company will focus on buying, leasing, and minting high–traffic virtual real estate in the metaverse with profits flowing back to token holders via smart contracts, much like a traditional real estate investment trust. The company will be fully audited with KYC and will set the standard for traditional real estate investors looking to diversify in the virtual real estate world.
Klein comes from the traditional real estate industry, having made big moves in the commercial and residential sectors through the mid-2010s. In his early twenties, Klein assisted in one of Toronto’s largest commercial building sales in the popular King West neighborhood. By the age of 26, he began focusing on multi-family units in markets such as Trois-Rivieres and Montreal in Quebec, Canada.
However, Klein’s original vision shifted after the success of his personal Bitcoin investment. In 2019, he saw the potential to evolve in a way that other real estate companies had yet to do. Klein launched KleinCap Investments, a cryptocurrency and blockchain investment company, which produced nearly 4,000% returns in its first year of business. Now with MREIT, a subsidiary of KleinCap, Klein is looking to become a global leader in the metaverse space by offering access to one of the fastest rising asset classes.
“It’s the biggest opportunity of our generation,” Klein says. “Especially for those of us who work in real estate and have seen the industry shift in unprecedented ways. If you’re not on board, you’re being left behind. That’s just a fact.”
Klein isn’t alone, either. Other real estate veterans have already made the move to the metaverse. On December 9, 2021, Forbes reported that the blockchain infrastructure company, Alchemy, was launching its own venture capital fund. For Klein, Alchemy’s move solidifies the direction his industry is going, but he fears many will be operating from a FOMO mentality.
“Companies need to understand the groundwork and foundation in order to see where we are going,” Klein says. “That’s why we spent several months digesting as much as we could before coming to the surface with MREIT. We wanted to make sure we were working with the best of the best. And that’s what we’re doing.”
Since its launch on Unicrypt, MREIT has already seen a growth rate of over 30%. The company hit its soft cap target in just 24 hours. Klein and his team of developers have worked around the clock to ensure MREIT is his most successful launch to date.
“This is the future,” Klein says. “By 2022, we’ll have partnerships with leading real estate developers, architects, influencers, and brokers to bring MREIT to the forefront of the metaverse. We’ll be announcing an NFT and staking platform by mid-2022 which will attract AAA tenants to secure long-term profitability for our token holders.”
