Kamiran Halil, the visionary CEO of Gamma Cities, gave a presentation at the Istanbul Blockchain Week 2023, discussing how his company is developing metaverse solutions that bridge the gap between the physical and digital realms, particularly within the real estate sector.
GAMMA Cities is an innovative metaverse initiative that seeks to link physical and virtual assets, revolutionizing the way we interact with real-world assets and immersive settings.
By crafting virtual replicas of renowned cities like Istanbul and Dubai, GAMMA Cities introduces a comprehensive ecosystem that incorporates the tokenization of real-world assets, interactive virtual cities, and virtual showrooms.
During his presentation, Kamiran highlighted his journey from a challenging upbringing to a determined pursuit of meaningful solutions in the business world. With over a decade of experience in real estate and a portfolio of more than a thousand direct deals, the team behind Gamma Cities has been shaping the real estate landscape.
Effect of the pandemic
He added that the COVID-19 pandemic accelerated the transition to online interactions, prompting him to envision a project that could enhance the real estate experience.
This vision led to the creation of a metaverse platform that redefines property presentation and sales with virtual tours emerging as a key element.
The founder noted that the impact of the pandemic on the virtual real estate market caused a 38 percent increase in sales driven by online engagement.
Furthermore, this brought about the need for a platform that addresses key issues in the real estate sector, including property pricing, bureaucratic hurdles, and liquidity challenges.
To tackle these challenges, Gamma Cities was integrated with the blockchain technology.
Tokenization in real estate
Speaking about tokenization in the world of real estate, he added that with estimates suggesting that $10 to $16 trillion worth of Real World Assets (RWAs) will be tokenized by 2030, Gamma Cities is being positioned to maximize that opportunity.
He also added that their platform offers a bridge between real estate expertise, a global audience, secure contracts, and easy-to-use transactions. With this, investors can participate in diversified opportunities without using paperwork and in less time.
The Gamma Cities representative also highlighted that their metaverse platform provides replicas of actual cities for users to explore directly within a web browser.
Read also; Will self-regulation make crypto better?