Madeira Gets a Digital Twin in the Metaverse

In a government-endorsed “digital twin” project, the first 500 plots of virtual real estate in ‘Madalia World’ a virtual version of the Portuguese archipelago of Madeira were listed on the NFT marketplace Exclusible yesterday (Sep. 28).

The project is a collaboration between the regional government, Exclusible, and the virtual and augmented reality technology company Dimmersions.

Prices range from 1 ETH for a 2000 m^2 plot to 28 ETH for a 9 Hectare parcel of land.

The “Pioneers Collection” went on sale ahead of the launch of the Madalia World metaverse. Once the virtual world goes live, owners of the land parcels will be able to build on their plots as well as sell or rent the land.

Owners of the NFTs will also be able to visit the physical location their plot represents, where they will be able to see their virtual constructions in augmented reality, creating exciting architectural opportunities in a protected and UNESCO-certified area where physical building isn’t allowed.

In a press release announcing the sale, Candy Flores de Freitas, co-founder and CEO of Dimmersions, said:

“There are also extra benefits such as early access to Immersive Entertainment related to the Madalia IP, all Madalia public event ticket sales and all future sales of Virtual Properties & NFT Drops from Exclusible,  access to purchase tickets to Madalia’s exclusive annual gala and an invitation to the ‘tree party’ to plant 500 trees to offset the carbon footprint of the mint and NFT transactions.”

Thibault Launay, CEO of Exclusible, added “with the launch of Madalia, we have increased our presence in the real estate and metaverse, and will continue to understand where the Web3 community wants to be and what experiences they are looking for.”

As PYMNTS has reported, digital twins of real locations have been launched on The Sandbox metaverse platform, where users can visit ‘Mega City,’ a virtual version of Hong Kong. The next digital twin city to be built in The Sandbox will be the ‘Dubaiverse.’

Related: Dubai Ramps Up Efforts to Become Global Metaverse Capital

For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.