Metaverse REIT Launches on Exchange, Eyes $15 Million Market Cap Debut
After a successful VC round on Unicrypt, MetaSpace Real Estate Investment Trust (MREIT) will begin trading on PancakeSwap on Friday, December 17th, a 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 and helped source financing for a $100 million REIT. By the age of 26, he began focusing on multi-family units in other Canadian markets such as Trois-Rivieres and Montreal in Quebec.
However, Klein’s vision expanded dramatically after seeing the potential of the blockchain in 2018. Klein launched KleinCap Investments in 2020, 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 via tokens to one of the fastest rising asset classes: virtual real estate.
“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. It’s web 1.0 and 2.0 combined. Social media, work, hobbies, sports, and leisure, via NFTs, everything will live in one ecosystem. If you’re not on board, you’re going to be 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 seen a growth rate of over 20%. The company hit its soft cap target in under 24 hours. Klein and his team of developers worked around the clock to ensure MREIT was his most successful launch to date.
“This is the future,” Klein says. “By the end of 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 collection to mint new districts in Q2, and a staking platform by Q3, which will attract AAA tenants to secure long-term profitability for our token holders.”
If you’d like to buy MREIT tokens on PancakeSwap on Friday, please visit www.mreit.io for token address. If you’d like to purchase MREIT tokens but do not have a wallet set up, please fill in the form below.
Disclaimer: Users will only be able to purchase $500 worth of MREIT per wallet for the first 30 days on PancakeSwap to eliminate whale holders.