Graystone (OTCPK:GYST) expanded into real estate development in the metaverse, creating a separate corporate division and dedicated budget to buy real estate parcels in the Decentraland 3D virtual platform. GYST planned on making its first metaverse real estate transaction in Q4, but it decided to expedite the launch of this division in Feb. instead. The newly established division will actively work on acquiring and developing parcels in the metaverse, and seeking joint ventures and collaborations with other firms that wish to market and move their product lines to the virtual platform. Decentraland is a software running on Ethereum that seeks to incentivize a global network of users to operate a shared virtual world. Decentraland users can buy and sell digital real estate, products and goods. GYST expects the metaverse to become a $1T annual revenue opportunity with great marketing potential.
