Launched this month, the one-stop solution allows brands and businesses to rent ready-made designs and plots of land in the Metaverse, enabling them to host virtual events, product launches, and branded experiences.
As part of the launch, the Metaverse Group has been announced as the first landowner to utilise the Renovi platform. This means customers will have easy access to the most in-demand plots of land across various virtual environments. Metaverse Group owns one of the most valuable portfolios of virtual land and is the largest owner of land in Decentraland’s Fashion District.
This is the first time this service has been available through a web application, with the aim to make the Metaverse more accessible to smaller brands and businesses which are looking to expand their virtual presence in a cost-effective manner.
Buying virtual land and designs normally requires both capital, time and expertise. Renovi Hub provides a practical user-friendly solution with a minimum amount of time and effort.
Renting land and designs with Renovi’s HUB offers brands the opportunity to cost-effectively engage with the hundreds of thousands of visitors that explore Decentraland, Sandbox and other Metaverse platforms every month.
Renovi currently creates bespoke activations through its 3D design studio. Post MVP, brands and businesses will be able to build their own experiences using pre-made templates or customisable modules without extensive knowledge of 3D. Templated designs will be provided by the Renovi community of 3D designers.
Spaces available for rent are spread across Decentraland and range from single parcels to large areas. The service will also connect to Sandbox and other platforms in the coming months, allowing consumers a variety of Metaverse choices.
Andy Charalambous, co-founder of Renovi, said: “We are continuously looking for ways to make the Metaverse more user-friendly for brands who may not have the spending power to buy and build big activations. That’s why this ‘Shopify’-style rental experience is going to be a game-changer.
“We’re expecting this service will be attractive to brands looking for ways to advertise and promote in the Metaverse, including video showcasing and virtual gatherings.”
“Metaverse Group has some of the most coveted parcels of land in the metaverse,” said Lorne Sugarman, CEO of Metaverse Group. “Renovi’s product gives businesses and consumers access to this land in the form of rentals.”
Renovi already has extensive experience in building digital store experiences for brands including DKNY, Diageo, General Motors, Lion, Prive Porter and Charles & Keith for 2022 Metaverse Fashion Week, Mercury Dasha for 2023 Metaverse Fashion Week as well as standalone activations for brands like Intercontinental Hotels and Claire Luxton.
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