By Riley Kaminer
Real estate speculation in Miami is of course nothing new. But what about buying real estate in the virtual world? Miami-based SuperWorld has got you covered.
The web3 startup has divided the surface of the earth into 64 billion virtual parcels of land that its users can purchase for as low as .1 ETH (currently around $130). Virtual landowners – or super citizens, as the startup calls them – then have the right to benefit from any of the monetization that happens on their property, such as NFTs that are placed there.
Owning land is just one aspect of SuperWorld. There is also an augmented reality aspect to the startup, akin to Pokémon GO, which enables users to create what co-founder and CEO Hrish Lotlikar described as adding “an infinite number of filters on the world.”
Through SuperWorld, users can create NFTs: digital assets that they can place in different locations. The idea is that any user could leave a string of these NFTs around a virtual landscape, and others could see these and pick them up. For example, a journalist could leave photos, videos, and messages in various places around a city where they have reported stories over the years.
“These NFTs can be placed in real world locations and can activate real world utility,” said Lotlikar. A recent notable activation was an NFT that granted users access to a nightclub in New York. SuperWorld is also in the process of infusing tokenomics into the platform by launching its own cryptocurrency.
“What we’re really focused on is building a virtual world that actually improves the real world,” explained Lotlikar. “How can we create a life enhancing platform, not a life escaping platform? That is what makes us different in this space.”
Part of this mission is to also figure out how to build a better (real) world through their virtual version. To that end, they have partnered with the World Bank in the Caribbean and UNESCO on initiatives to rebuild cities around the world. For instance, the startup plants trees in the real world when someone buys virtual real estate in SuperWorld.
While SuperWorld does not share the number of users currently on the platform, Lotlikar shared that the average paying user spends about $4,000 on SuperWorld and makes 10-15 transactions in their first month. He also noted the virality of the product: “People who buy land tell an average of 5.6 paying customers about us.”
SuperWorld was founded in 2017, around the same time that Lotlikar began to live in Florida. Several of SuperWorld’s 25 employees are also based in South Florida. Lotlikar, a serial entrepreneur who previously co-founded an entertainment company, lives a nomadic life where he typically resides in a different place every year, but he considers Miami his home base both professionally and personally.
Why Miami? Lotlikar called it “without a doubt one of the most beautiful places to live.” He likes its dynamic business environment and the fact that it is an international gateway, particularly to Latin America.
Of course, Miami’s thriving web3 scene is also a major advantage. “SuperWorld is that gateway to the metaverse, so it makes a lot of sense for us to be based in Miami.”
READ MORE IN REFRESH MIAMI:
- Build, learn and play through The Mirror – coming soon to a metaverse near you
- Mytaverse brings businesses into the metaverse by building immersive digital environments
- Ready to work in the metaverse? This could be the future of virtual office collaboration
- Could the Metaverse make fashion more sustainable?
- EdTech Flo-Ops brings together students’ social and academic lives to improve their performance inside the classroom - February 2, 2023
- Coming soon to a sky near you: LunaLite Drone Show - February 2, 2023
- Blue Frontier is on a mission to keep us cool, while being kind to the climate - February 1, 2023