A luxury mansion is up for grabs in both real life and in the metaverse, in what's thought to be a world-first.
The dual listing raises the intriguing possibility that the £29 million ($40m) Hampton Hall in the UK could have two separate legal owners.
Developer Stately Homes aims to build the 11-bedroom property on a 0.5-hectare plot in the gated Crown Estate in Surrey — although the precise location is up for negotiation.
Whoever buys the house in real life will be offered first refusal on its digital blueprint in the form of a non-fungible token. Aptly, prospective buyers can take a virtual tour before making a decision.
For those not conversant in cryptocurrencies, NFTs are unique pieces of data that provide proof of ownership on blockchain, effectively the crypto equivalent of banks.
They are yet to garner widespread use, but the deeds to a five-bedroom $653,000 house in Florida were sold via an NFT this week. A US company has been set to facilitate these digital-analogue transactions and, if successful, it is likely the service will spread globally.
The owner of the Hampton Hall NFT would be able to download the data into the metaverse, a set of immersive spaces shared by users, where they can interact, innovate and engage with other people, who are not in the same physical space, using 3D avatars.
Still a bit hazy on the metaverse? The National's Alkesh Sharma has written this excellent metaverse explainer which looks at its implications for the real world and how long it will take to enter the mainstream purview.
Whether "in the flesh" or the metaverse, the yet-to-be built Hampton Hall will come with much to recommend it. Among its welter of attractions are a private bowling alley, home cinema, gym, swimming pool and bulletproof windows — although it seems unlike the virtual proprietor would want to download the property into a digital world where the latter feature serves a purpose.
Virtual properties increasingly in demand
Hampton Hall taps into a burgeoning market, with a collection of 8,888 "meta mansions" being launched in March by virtual property company KEYS Token.
Last March, Canadian artist Krista Kim sold "Mars House" via an NFT for use in the metaverse.
“NFTs are a real trend at the moment," Sean Barrett, managing director of Fine & Country estate agents in Richmond, told The Times.
"We recently sold a £5 million house in Surrey, a period property that had been extensively renovated and extended. The developer asked the buyer whether they’d be interested in buying an NFT of the house for 2 per cent of the purchase price of the physical asset. The developer wanted to test the waters. The buyer said yes, very quickly.”
Whether metaverse properties will ever be more than the playthings of the mega-rich remains to be seen. After losing $21.3 billion in the last three years on his big metaverse bet, Facebook-turned-Meta's Mark Zuckerberg certainly hopes so.
The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
Fixtures (6pm UAE unless stated)
Saturday Bournemouth v Leicester City, Chelsea v Manchester City (8.30pm), Huddersfield v Tottenham Hotspur (3.30pm), Manchester United v Crystal Palace, Stoke City v Southampton, West Bromwich Albion v Watford, West Ham United v Swansea City
Sunday Arsenal v Brighton (3pm), Everton v Burnley (5.15pm), Newcastle United v Liverpool (6.30pm)
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
What is a black hole?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Mobile phone packages comparison
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Zayed Sustainability Prize
Chatham House Rule
A mark of Chatham House’s influence 100 years on since its founding, was Moscow’s formal declaration last month that it was an “undesirable
organisation”.
The depth of knowledge and academics that it drew on
following the Ukraine invasion had broadcast Mr Putin’s chicanery.
The institute is more used to accommodating world leaders,
with Nelson Mandela, Margaret Thatcher among those helping it provide
authoritative commentary on world events.
Chatham House was formally founded as the Royal Institute of
International Affairs following the peace conferences of World War One. Its
founder, Lionel Curtis, wanted a more scientific examination of international affairs
with a transparent exchange of information and ideas.
That arena of debate and analysis was enhanced by the “Chatham
House Rule” states that the contents of any meeting can be discussed outside Chatham
House but no mention can be made identifying individuals who commented.
This has enabled some candid exchanges on difficult subjects
allowing a greater degree of free speech from high-ranking figures.
These meetings are highly valued, so much so that
ambassadors reported them in secret diplomatic cables that – when they were
revealed in the Wikileaks reporting – were thus found to have broken the rule. However,
most speeches are held on the record.
Its research and debate has offered fresh ideas to
policymakers enabling them to more coherently address troubling issues from climate
change to health and food security.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
