Versity is the 1st metaverse dedicated to real estate and the housing life cycle, serving professionals, investors and individuals. Launched by the startup Les Agences de Papa, the Versity metavers aims to become the reference ecosystem for exchanges, in real time, between all actors involved in a real estate transaction. Meet Claude Li, CEO of Versity, to find out more about the project.
For the Versity project, are you surrounded by metaverse and web3 experts?
To ensure the success of the project, we have obviously surrounded ourselves with the most efficient team possible. You should know that at this very moment, there are about 50 people working on the project. First of all, these are our internal teams, because we are a company of about a hundred people with specialists in marketing, IT, finance, sales and legal. But we are also surrounded by the best web3 experts in France and Europe, both on the technical and marketing parts, to be able to ensure the best possible success for this project and to be able to deliver to our community the promise of this virtual and immersive web3 world.
What is the definition of SITY?
Sity is the name of our token, or to put it simply, our virtual currency. This name is also a little nod to the world of real estate and necessarily linked also to the name of the Versity project.
What is the economic system implemented in Versity?
We have somewhere a complete ecosystem, with a circular economy inside, the exchange token currency will be the SITY. You have the base which is Versity, which is made up of Parsell and we have our NFTs which is the zip code base. The owner of the NFT will receive a reward or a remuneration, in relation to any activity or economic transaction that will take place. For example, if I have a real estate agent who wants to broadcast a property on a Parsell like 75015, there will be a fee for the real estate agent and this payment will be intended in part for the owner of the PARSELL 75015.
Then, if there are other economic activities that take place, such as proposals for services, advertising, lots of things that will be left to be imagined by the community... This economy will bring rewards to the owners of the Versity PARSELL in question. To try to schematize as much as possible, it's as if the owner of the PARSELL was going to get a percentage of the GDP that will be created on his PARSELL.
How will users have access to Versity?
We mustn't forget that Versity is first and foremost intended for the general public, so access must be as simple as possible and will be done via the Internet. So where you have an Internet connection, you will have access to Versity. You don't need to download anything. You will be able to access it from your computer, your tablet and especially your smartphone. You should know that at Les Agences de Papa, 90% of our customers use their phone to access our real estate portal. On Versity, it will be the same. It will be mobile first, meaning that everything will be done so that you can access a virtual world from your smartphone. But of course, this will not prevent you from accessing it from your computer or your tablet. And you will also be able to use a virtual headset that you see everywhere in the media. But our role is first to democratize the metaverse, and in this objective there, the virtual headset will therefore be optional.
On which blockchain will the Versity project be deployed?
We chose the Polygon blockchain for Versity for 3 main reasons:
the price of gas and the price of transactions is very low
it is a widely proven solution in terms of stability
it's a reason for interoperability, especially in relation to the possibilities that Versity Parsell owners can exchange on other platforms their Parsell than Versity's platform
Versity will be first a non-immersive 3d version, and then an immersive 3d version. We will first focus on geographic areas where real estate activity will be the highest. In these areas, the immersive quality will be the best, and we will progressively extend this quality of detail to the whole of France, then tomorrow to other countries, and finally to the whole world. We are going to rely a lot on a community of designers, architects, 3d developers, to be able to improve the quality of Versity every day, and this community there, we will know how to reward it in relation to all that it will bring as improvement to Versity.
If it's an NFT project, why create your own crypto-currency?
So first of all, it's not an NFT project, it's a web3 project, and in a web 3 project, we have a metaverse so with a virtual world and NFTs. There is also a circular economy inside, an economy linked to the real world. To function, this economy needs a currency or an exchange token, that's why we needed to have the SITY as an exchange token, to ensure transactions in this circular economy in this ecosystem.
How will the value of each parsel on Versity be calculated ?
The calculation of the value of Versity Parsell is based on the real world, that is, your Parsell represents a zip code and this zip code has an activity in the real world. In the same way, we have calculated and modeled our value calculation on the real world. So we've put in formulas based on things like price per square foot, number of transactions, number of populations that are on that Parsell, and we've put in categories of Parsell based on the economic attractiveness of it and that calculation will be available on the marketplace when you buy or sell Parsell.
How will Parsell be marketed on Versity?
Parsell will be marketed in a couple of ways. First, what is important to know is that the Parsell will be resellable, that is to say that you will be able to resell them on the Versity marketplace or on another marketplace. Then, you should know that we have set up two collections of NFT Parsell: the Premium and the Explorer.
"You will also have the possibility, through a search engine, to find a Parsell that interests you, that corresponds to your house for example or your birthplace and to buy it"
The Premiums will be sold at auction with a starting price, but you will also be able to buy them directly without going through the auction at a fixed price. Then, for the Explorers, we will set up a lottery system where you will have a mysterious box with an NFT Parsell inside that will be delivered at random. You will also have the possibility through a search engine to find a Versity Parsell that interests you, that matches your house for example or your birthplace and buy it directly without going through the lottery system.
When will NFTs go on sale on Versity?
The marketplace, which will allow you to buy, resell and manage your Parsell NFTs, will be launched at the end of October this year.*
What is the minimum investment limit to participate in the different rounds?
The minimum to participate in round 1 will be $1000, the minimum to participate in rounds 2 will be $500, and the minimum to participate in the last round, round 3 will be $150.
To invest in the Versity project, there will be a total of 5 rounds. To participate, there will be minimum but also maximum caps each time.* Round 1: Minimum Purchase $1000 / Maximum Purchase $100,000 Round 2: Minimum Purchase $500 / Maximum Purchase $300,000 Round 3: Minimum Purchase $500 / Maximum Purchase $75,000 Round 4: Minimum Purchase $250 / Maximum Purchase $50,000 Round 5: Minimum Purchase $100 / Maximum Purchase $50,000
Cryptocurrency can be scary, what ideas do you have to alleviate this with Versity?
I think Versity is not a cryptocurrency project. Versity is first and foremost a metaverse project, a web 3 project, that will democratize these amazing tools. We are going to have a real economic activity, we are going to meet a real economic need, of an economy in the real world so it is not a speculative project. We are not looking to have speculators, we are looking to reach a maximum of French people to once again democratize the use of web3 tools with a very clear functionality and a very clear need.
I invite you to follow our website Versity. io where all the information will be communicated and there will be regular updates on the news. I also invite you to follow our Twitter account and our Telegram, Instagram, Linkedin.
To check out the interview with Nicolas Fratini, co-founder of Versity, it's right here!
*The following information has been adapted after the video as the strategy has evolved.
