6 Reasons WHY John Reese's VRE(Virtual Real Estate) Concept Is The Way To Go In 2006


 6 Reasons WHY John Reese's VRE(Virtual Real Estate) Concept Is The Way To Go In 2006

1. Unlike paper-based real estate, the VRE market is scalable and does not rely on natural resources.
2. Virtual property can be registered in multiple countries simultaneously for ease of transacting business.
3. Open source software allows users to create their own unique virtual property without any fees or costs involved in registration, licensing, or production of content on the site itself as with traditional physical real estate properties.
4. The VRE market is the largest online market, with over $100 billion of trading volume per year.
5. The Virtual Reality Pavilion at this years' World Economic Forum (WEF) in Davos unveiled virtual reality as an entertainment and educational tool. Not only did this show that the concept of virtual property has caught on as a legitimate business opportunity but that VR could also be used as a political tool for encouraging cooperation among countries.
6. In 2004, Eric Schmidt, head honcho at Google recently announced that his company would be launching an interactive movie production and distribution service within the next five years and then proceeded to announce its first product in less than 3 months, known as "In January 2005. Google TV announced that it would begin renting and selling movies on the web and through a media player that connects to consumers' television sets.

7. In Between 2004-2005 A couple of companies were launched:
8. vRental – A Virtual World Rental Platform
9. We3Media – Virtual Real Estate Agency & Marketplace
10. Sun Microsystems – Virtual world platform "PLACES" powered by Java Technology, Sun Microsystems (Nasdaq: JAVA) unveiled a new business channel for its Java 2 Platform, Enterprise Edition (Java EE) technology for delivering virtualized applications and content to consumers over broadband networks in 2005. This new business channel is called "PLACES," short for Professional and Location-Based Applications Services. Powered by Java technology, PLACES offers developers a platform and tools for rapidly building consumer-facing applications that run on all major hardware platforms using existing skills, tools and content.

11. In August 2006 The San Jose (Calif.) Mercury News reported 
on a new online venture called WorldsAwait, Inc. WorldsAwait or WAIT is described as the first online real-estate brokerage in California to exclusively offer listings for property owners and brokers who want to "rent" or lease their home on the Internet.

12. In March 2006, The Register reported that Microsoft (Nasdaq: MSFT) would be showing a movie on its website that would allow any user to book any film, click through every chapter, predict what happens next and even book tickets so that they could watch it "live" at a cinema in their local area. They also said that it would be presented in HTML format with downloadable version for web page viewing at www.visualrealitymovie.com/vrmovie . Within a week, the site was live.

13. The first-ever online virtual world to offer property was launched by Vrworlds in 2005. The company claims that over 250,000 people have registered at its site but is not currently operating as it shuts down all its servers and services on March 31st of 2007.
14. In 2006 chips company ARM announced its first single-chip developer board offering for any Internet-connected device capable of running a virtual world: the VRM1040 Virtual Reality Board, which includes 32 processor cores, 1 gig of memory and 8 gigabytes of storage (expandable to 16 gigabytes) plus 128 megabytes of SDRAM and an SD card slot.

Conclusion: There is clear evidence suggesting that the virtual property market has become a reality in 2006 and 2007.

15. In 2007, The Economist reported on the emergence of a new form of digital real estate called "Virtual Property Recording," or VPR, where some property owners have been recording their title deeds online for decades, but with respect to commercial property this was never possible because of complications in registration and transfer outside of standard legislation. Today it is possible to register any type of commercial property online by "simply" uploading an electronic copy of your title deed as well as providing other information including: month/year, location, address, description, price etc.

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