Blockchain Technology Makes Virtual Real Estate Possible

A virtual world where people can interact with each other suing avatars is something that many games are made of. However, they use either augmented reality (AR) or virtual reality (VR). By creating virtual real estate on blockchain, experiential reality (XR), which is a blend of AR and VR is made possible.  With XR, a virtual world composed of smart cities and intelligent architecture is created, combined with a fully interactive interface, monetization, and targeted advertising. 

This is what Raleigh-based start-up company Transmira, Inc. is developing with its XR platform Omniscape. In order to provide state-of-the-art technology, Transmira has recently teamed up with Philadelphia-based firm Kognition, which specializes in enterprise artificial intelligence (AI) technology for commercial property. Through this collaboration, a more superior XR platform is made with 3D twins of real buildings and venues. 

“We are very excited to announce today’s partnership with Kognition as part of our growing XR consortium of companies. With our Omniscape technology and XR platform, we bring location to life using AR and VR technology, AI-driven holograms, data visualization, interactive content, as well as unique monetization capabilities. This creates new revenue streams, engages consumers and completely changes the way we interact with each other, as well as with our work, play and social spaces. This is a tremendously important initiative that is set to change the face of cities all around the world, with game-changing potential for a variety of industries and use cases, as we build our planet in a more intelligent and sustainable manner,” Robert Rice, founder and CEO of Transmira and developer of Omniscape, said about the partnership.

“The exciting part of integrating Kognition’s AI with Transmira’s XR technology is the opportunity for truly end-to-end digital transformation of a venue, as well as how users interact with and engage with the space. This holistic approach is the future of smart spaces and truly amplifies the power of our smart building AI, resulting in enhanced customer experiences, streamlined operations, cost-effective security controls and most importantly, safer spaces for people,” Kognition co-founder and CEO Matias Klein added.

Aside from the innovative technology, what is unique about Omniscape is that users can earn money by buying a piece of virtual real estate on blockchain and own it for two years. Within this period, they can resell it for a higher price or earn revenues whenever businesses advertise or create content on their property. Hence, it is also important to strategize when buying digital space.


“The idea is we want to make it easy for people to make money and keep it low and accessible. And you can speculate, like domain names, ‘I’m going to buy cool locations and resell them or I’m going to try and anticipate where the market’s going to grow, where people are, where the activity is,’” Rice explained during an episode of CoinGeek Conversations.

Rice chose to build Omniscape on the Bitcoin SV blockchain, as it is the only blockchain in production that is massively scalable, secure and cost-efficient. All actions on Omniscape are immutably recorded on the blockchain, which is both public and distributed. It is distributed in that all nodes or miners on the Bitcoin SV network have master copies of the data. Not only does this preserve the history of data, but it also ensures the integrity and transparency of data. Transmira will then be able to analyze this data and provide brands and businesses with consumer information per individual. This kind of targeted advertising is unprecedented as it will allow businesses to more specifically characterize their markets.

Learn more about virtual real estate on blockchain at the next virtual CoinGeek Conference, which will be broadcasted live from Zurich on June 8-10, 2021.


Ajay Deep

Ajay Deep is a young enthusiast who Loves Chandigarh and is always eager to make this beautiful city even more beautiful. A Mechanical Engineer By Chance and Working in an IT MNC by Choice. A Writer, Photographer and a Budding Entrepreneur. A Designer, Developer and Digital Marketing Expert. In brief : A Jack of All Trades and Master of Few :) You may reach Ajay Deep at
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