Immersive Global Summit is Coming to Miami from December 5th through the 7th
The world’s global IT community will come together to support immersive technologies at the Immerse Global Summit (IGS), which is scheduled to begin next month at the Fontainebleau Hotel in Miami Beach from December 5 to 7.
With a number of keynote speakers, seminars, product demos, and other activities, the event will highlight the future of virtual, augmented, and mixed reality, blockchain, the internet of things (IoT), and the Metaverse.
To address how metaverse technologies are altering businesses and their operations, companies including Amazon, AT&T, Meta Platforms, Magic Leap, Qualcomm, Sony Interactive Entertainment, Unity Technologies, Lenovo, General Motors (GM), and others will take the XR stage.
Along with burgeoning small and medium enterprises (SMEs) like AMPD, Aequilibrium, Rooom, Immersal, Leai Inc, Emteq Labs, Departure Lounge, and a growing roster at the renowned Summit, additional guests at the A-list event will include Boeing, Agora, and the University of Miami.
The announcement comes as interest in the Metaverse, the upcoming communications platform fusing the Internet and spatial computing, is surging. Businesses are investigating use cases across all industries, including entertainment, smart manufacturing, advertising, and remote guidance, among others.
Miami, a developing tech hub in the US, has witnessed a significant increase in its rankings in the Dice Tech Job Report for the growth of tech jobs in the first half of 2022.
The Immerse Global Summit (IGS) was “thrilled” that AT&T would give the keynote address at the gathering, according to Nathan Pettyjohn, the founder, and president of the VR/AR Association (VRARA) and the IGS’s host.
Business leaders from various industries should attend the event, said Kris Kolo, Global Executive Director of VRARA, to “understand how immersive technologies are impacting their business.”
The announcement was released after the IGS’s European Summit, which was held in late September at the Savoy Palace on Madeira Island in Portugal, came to a close. At Europe’s emerging tech hub, more than 500 delegates discussed the future of the XR market as several organizations, businesses, and thought leaders expressed their perspectives.
Miami-Dade County and Miami Heat Cuts Naming Rights Ties with Cryptocurrency Exchange FTX for Miami Arena
Miami-Dade County and the NBA’s Miami Heat have ended their partnership with the insolvent cryptocurrency exchange FTX and are now looking for a new naming rights partner for their downtown Miami arena.
The statement followed the FTX group’s CEO resignation and bankruptcy filing in the US earlier on Friday, which marked the shocking demise of one of the biggest and most influential figures in the cryptocurrency business.
Miami-Dade County and Miami Heat stated in a joint statement on Friday night that they will cooperate to find a new naming rights partner for the stadium, which was only rebranded as FTX Arena last year, and that they find the reports concerning FTX to be “very upsetting.”
Like other cryptocurrency businesses, FTX has spent a lot of money sponsoring athletes. For the renaming of the Miami arena in June 2021, FTX reportedly signed a $135 million, 19-year contract. This deal would have also included $2 million annually to the Miami Heat.
A five-year agreement was also reached in 2021 for Major League Baseball to designate FTX as its official cryptocurrency exchange. FTX is also the Mercedes-AMG Petronas Formula One Team’s authorized
With the University of California, Berkeley negotiating a $17.5 million, 10-year naming rights arrangement for the school’s football stadium in 2021, even college sports have connections to FTX.
Can the Metaverse Change the Miami Real Estate Market?
“Metaverse” is a massive buzzword in the realms of technology, business, and finance right now, and like all buzzwords, its definition is hazy, debated, and molded by the objectives of those who use it. Now, the Metaverse is being debated whether it can be a real estate game-changer.
One Miami commercial group is trying to make their listings more attractive by utilizing the Metaverse. Currently, Inhouse Commercial is partnering with the Metaverse Group to create a virtual copy of the two buildings that they have for sale in Miami Beach.
The properties are located at 930 and 960 Alton Road, and whoever purchases the properties, will receive the digital copies of the buildings in the Metaverse. The total asking price for the package is $25 million.
The property is owned by the former Miami Beach Mayor, Phillip Levine. It has been on the market since early 2021. Although the property has received multiple offers, the company stated that they believe they could lure in a big tech company with the Metaverse addition.
Metaverse Group, a significant virtual real estate owner and developer, has so far only created representations of the virtual property. According to Matt Zanardo, the firm’s consulting head, it will wait until Inhouse finds a buyer to completely build it out and choose the metaverse where it will reside.
According to Inhouse’s owner, “Companies and brands in our line of business were entering the metaverse, and we saw there was probably going to be a need for a connection to the real world.”
Recently, a number of organizations and brands have entered the metaverse recent months, and the feasibility of the virtual real estate industry has yet to be shown.
If the company succeeds with this deal, this will be the first-ever commercial/metaverse purchase and will forever change how commercial properties are presented to developers as well as other potential buyers.
NFTs, Velvet Ropes, and Miami
In partnership with Horizen Labs (a blockchain firm), club E11EVEN is teaming up to create a crypto-dedicated division referred to as ‘E11EVEN Crypto.’ This new division was announced last week and is planning to introduce NFTs (non-fungible tokens) to the Miami club scene.
NFTs have made huge headway in the US and especially in Miami. Private clubs, Art Basel, and real estate have all traded NFTs in the recent year and we can only expect that this blockchain market will continue to grow.
In order to understand the big news of E11EVEN, you must first understand what an NFT is. An NFT is a non-fungible token meaning that it’s unique and cannot be replaced with something else. If you look at bitcoin, you can trade one for another and you will have exactly the same thing with a set price. With an NFT card, if you were to trade it with another card, it will be valued at something completely different.
The collection of E11EVEN’s NFTs will be referred to as “11 Captain’s Club.” The artwork itself is inspired by the Miami club scene and will include the club’s iconic hat designs. Just one ETF will be priced at around $2,700.
Club E11EVEN has always been known for keeping up with trends and creating innovative revenue streams. The brand has its own vodka label, an apparel company, and even a real estate LLC that partners with FTX for its crypto operations. With this new NFT division, E11EVEN will pave the way for other brands to be involved in the crypto culture and club scene in the US.
According to the owner of E11EVEN, Michael Simkins, “We were the first major club to accept crypto as payment, and now we’ve processed over $5 million of it at the nightclub.”
Horizen Labs stated that they raised $7 million in August for the funding of this NFT division. E11EVEN is set to release the NFTs during the upcoming Bitcoin 2022 conference in April.
You Can Now Buy Two Arte Surfside Condos for 560 Bitcoin
Bitcoin has become one of the ultimate currencies in Miami. Now more than ever, consumers are able to utilize crypto for food purchases, nightclubs, and real estate. Arte Surfside completely revolutionized the real estate market by being one of the first developments in Miami to begin accepting Bitcoin for their luxury condos.
The developers for Arte Surfside currently have two luxury units for sale for a combined price of $31 million or 560 bitcoin. According to the developers, Alex Sapir and Giovanni Fasciano have stated that offers can be made in either bitcoin or ethereum.
According to Sapir, “We were overwhelmed by the amount of calls we received from qualified buyers just after announcing our ability to facilitate cryptocurrency transactions for the condominiums at Arte. Real-world crypto transactions haven’t made their way fully into the mainstream yet, so it’s clear that top holders around the world pay attention when new opportunities to transact open up.”
One of the crypto units at Arte is listed at $18.95 million and features 6,982 square feet of living space. The second unit is listed at $11.9 million and is around 3,500 square feet. These incredible units boast oceanfront views, wraparound terraces, large walk-in closets, and high-tech entry access.
Photo Credit: Dina Goldentayer
Building amenities include an indoor and outdoor swimming pool, full-size tennis court, state-of-the-art gym, yoga studio, sauna, catering kitchen, and white-glove butlers.
Arte Surfside Amenities:
A 75-foot indoor swimming pool
An outdoor swimming pool, sundeck, and poolside cabanas
Rooftop tennis court
State-of-the-art fitness center and yoga studio
Sauna and steam room
Tranquil meditation pond
Children’s playroom
Residents’ lounge with billiards and catering kitchen
Temperature-controlled parking spaces
Arte Residence Features:
Expansive terraces clad in travertine with ipe decking
Gracious kitchens featuring Poliform cabinetry, Italian marble countertops, and Gaggenau appliances
Sweeping views of the Atlantic Ocean
In June, a penthouse in Arte sold for a record-breaking $22.5 million in crypto. The type of cryptocurrency for this sale was not released. With more developers jumping on the crypto train, we can expect in the future that digital currency will eventually play a larger role in the real estate market and potentially affect how we make offers for our buyers and negotiate for our sellers.
Russian Buyer Purchases MarinaBlue Condo with Cryptocurrency
Cryptocurrency has made headway this past year within the real estate market. To compete with multiple offers or to make offers more appealing, buyers have been utilizing different types of the digital currency.
The digital asset is not only being accepted for real estate transactions but for the purchase of goods and services as well. Miami nightclubs, retail shops, and airlines are starting to accept this form of payment. Other large chain retail stores including Overstock.com, Microsoft, and Home Depot are also on the crypto train.
Within the real estate market, many developers are beginning to accept crypto on their new construction towers. PMG was one of the first developers to begin accepting crypto on their new construction tower, E11EVEN Hotel & Residences. A penthouse at Arte Surfside was also recognized for being one of the largest cryptocurrency transactions ever.
Lucas Lechuga recently closed on a MarinaBlue unit #4803 to a buyer from Russia for $465,000. The buyer purchased the unit using cryptocurrency. The unit itself features 1 bedroom + den, 1.5 bathrooms that offered views of the ocean, downtown Miami, and Biscayne Bay. This unit boasts 10-foot ceilings with floor-to-ceiling glass windows and marble flooring throughout.
This unit is considered the second-highest price sale for a 1 bedroom ever at MarinaBlue.
Floor-to-ceiling Impact-resistant Sliding Glass Doors and Windows
9-foot Ceilings in Most Condos; 10-foot Ceilings starting on the 44th Floor; Lofts with 18-foot Ceilings
Penthouse Units with 20-foot ceilings
Full-size Stackable Washer and Dryers by Frigidaire
European-style Cabinetry and Stainless Steel Sink in Kitchen
Stainless Steel Refrigerator/Freezer, Microwave and Oven/Stove by Whirlpool
Master Bath Features Marble Floors and Double Vanity
Spacious Walk-in Closets
If you or someone you know have an interest in purchasing one of the units at MarinaBlue, or any information on the cryptocurrency process, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
World’s Largest Cryptocurrency Conference is Coming to Miami – Bitcoin 2021
In the last few weeks, Miami has been swarmed with vacation goers and visitors from all over the world. But this week, Miami will be taken over by big tech with the world’s largest cryptocurrency conference, Bitcoin 2021. There is no doubt that Miami is the place to be!
Bitcoin 2021 will take place on June 4th and 5th at Wynwood’s Mana Convention Center. This will be considered one of the largest events to occur since the pandemic. This conference was originally set to take place in Los Angeles.
Notable speakers for this conference include Twitter CEO, Jack Dorsey, and Miami Mayor Francis Suarez as well as other leaders in cryptocurrency. The conference will explore technology advancement and give opportunities to actually utilize Bitcoin in a real setting.
According to the Chairman and Co-founder of the Wyndwood Business Improvement District Albert Garcia stated, “Wynwood’s residents and businesses have shown their resiliency in the face of this pandemic, and we are ready to safely welcome back visitors for the first major in-person event in the last 16 months. Conference attendees will enjoy the unique, open-air offerings of the Wynwood Arts District- from our colorful streets to our internationally recognized culinary and brewery scene.”
Bitcoin 2021’s local partners include BitBasel, that are creating a mural showing the evolution of currency. The mural will be displayed outside of the convention center. Other sponsors include Microsoft, Crypto.com, coinbase, and Bitfarms. According to their event announcement, they did not accept any sponsors that advocated for any other cryptocurrency other than Bitcoin.
Bitcoin has gained a lot of headway in Miami with buyers using Bitcoin with their real estate offers as well as a lot of nightclubs, retail, and airlines accepting the digital currency.
Is Cryptocurrency Changing the Miami Real Estate Market?
With the Miami real estate market so hot right, it is of no surprise that offers are becoming more and more creative. We are seeing contingencies and appraisals being dropped to create a competitive edge for buyers. These aren’t the only items of change! In the MLS (multiple listing service), we are seeing an option for sellers to decided if they will accept cryptocurrency in their offer.
Cryptocurrency is a digital asset used to purchase goods and services. It has made headway in the past few years and it continues to gain popularity. In Miami we are seeing nightclubs, retail shops, and airlines accepting this form of payment. More retail stores are beginning to accept it like Overstock.com, Microsoft, and Home Depot, to name a few.
According to The Real Deal, South Florida is seeing a large number of Financial Managers and Tech-Savvy Entrepreneurs from Silicon Valley and New York using crypto in their real estate offers.
Vice President of Portfolio Development for Idoneus, Tim O’Leary handles a Swiss payment token (native cryptocurrency), which he has seen included in real estate offers more recently. O’Leary stated, “Idoneus has been utilized as a method of payment to acquire properties in Alaska, to Florida, to the Caribbean.”
There are a few different cryptocurrencies currently out and the most popular is Bitcoin. With how mainstream Bitcoin has become, crypto is becoming a common occurrence but there is still much hesitation. Since crypto leaves no paper trail, there is a lot of skepticism.
One of the biggest perks is that it can allow for cheaper and faster transactions, which is huge for the current real estate market.
