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The French hit “Les Agences de Papa” land in the metaverse with Versity®!

Mon 20 Jun 2022 ▪ 7h00 ▪ 10 min read — by Ian Henshaw

The Dads, having revolutionized the sale of real estate online, are now launching a metaverse real estate tool. Driven by a desire to offer innovation in this field, these seasoned entrepreneurs present their new baby: Versity®! In an interview for Cointribune, we had them address our questions in order to better understand their new and innovative project. In this article, you will find a summary of the conversation which sheds light on their new project right before the ICO slated for June 23rd.

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Meet the Dads

Before looking into the details for Versity®, let’s take a look at the entrepreneurs behind this initiative. During this wide-ranging interview, we were able to meet the three principal creators of this project.

First, we had Nicolas Fratini, co-founder of Agences de Papa, explain his background to us. He is of Italian origin; this successful serial entrepreneur is not creating a business for the first time. Passionate about new technologies and digital assets, he fell in love with blockchains’ capabilities and later became the instigator of this new Web3 proposal.

In 2019, after his children left school, Nicolas met Frédéric Ibanez – who is also co-founder of Agences de Papa. The two men became friends and began to share their project ideas. Frédéric’s experience in the real estate sector coupled with Nicolas’ knowledge of digitalization resulted in a powerful team – the startup Les Agences de Papa was born!

frederic-ibanez-nicolas-fratini
Frédéric Ibanez (left) and Nicolas Fratini (right) – Source: Les Agences de Papa

Les Agences de Papa

The Agences de Papa is profoundly a unique broker  based on digital transactions in real estate. The administrative procedures when selling physical property are tedious and expensive; in short, the entire process is shaped by history and not optimized for modern living – it is a poor experience for both sellers and buyers. At a time when the world is going digital, the real estate sector needed a meaningful overhaul.

Les Agences de Papa presents an attractive value proposition. Indeed, the catchphrase of the entrepreneurial Dads is simple: “with us, agency fees are €2,000!”. With more than 10,000 listings since their creation, Les Agences de Papa quickly established itself as a disruptive player in a long-standing market.

Finally, Les Agences de Papa also provides a viable approach that appeals to consumers. Frédéric explained to us that the digitization of the sales processes suits both buyers and agents. Indeed, most sales of goods are done entirely remotely. In addition, visits are provided by the owners themselves, saving time for all parties involved.

In the summer of 2020, Claude Li, joined the project, as he was seduced by the potential of this startup. Former General Manager of OGC Nice, Claude remains, above all, a loving Dad eager to get involved in new projects. We were able to benefit from Claude’s perspectives as he was the last member present on the day of the interview.With the rapid development of the Web3 universe, Papa’s Agencies see a new opportunity to innovate in the real estate sector. They introduced us to their latest creation:  Versity®!

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Source: @Versity

The Versity® promise

Any investor with experience can tell you that the best projects are built in the midst of a bear market. While cryptocurrency prices have been faltering for several months now, the Dads are working hard to build their new Web3 project.

The idea for Versity® stems from a simple observation; many real estate visits do not succeed because potential buyers do not like the neighborhood, the common areas of the building are not to their liking or the apartment is not bright enough. These defects hamper the sale of real estate and the startup felt compelled to create a solution to address this problem.

Versity® wishes to be the first real estate metaverse in the world to carry out virtual visits. By modeling the surrounding neighborhood, the common areas, and the different apartments, the potential buyer will be able to quickly find a location that suits his or her needs while avoiding unpleasant surprises which would occur during a physical visit. This saves time for a purchaser as he or she can vet out the location before deciding if the place is worthy of an in-person visit.

To be most effective in the development of  Versity®, the entrepreneurial Dads will develop technology allowing real estate professionals (Agents, Promoters, real estate advertisers, etc.) to promote the properties entrusted to them in this new Web3 tool. The tool developed by Versity® will reproduce future homes and their environment as faithfully as possible. The first tests of this technology, built upon the Unity graphics engine, are very encouraging and the Dads have already approached several promoters who were won over by their innovation. The future buyer will therefore be able to access the property’s fit better by visualizing the home in the metaverse. Importantly, the entrepreneurs from the south of France want to offer a tool compatible with the latest smartphones to maximize the number of users.

Of course, we are at the genesis of this novel project. The first vision of Versity® is to disrupt the real estate sector by offering the altogether new experience of digital visits. But, in time, it will be thanks to the contribution of the entire real estate ecosystem that the platform will evolve. It will be collaborative and everyone will be able to contribute to its development and evolution; as this occurs more and more people will be rewarded for this capability. 

Generating interest by owning Versity® NFTs

The Web3 dimension of Versity® is partly based on an NFT mechanism, which we will overview in this section. Based in Nice, the Agences de Papa startup covers the entire French national territory; the same will be true for Versity®.

In order to support users in this transition to Web3, the Versity® NFTs will be backed by existing postal codes in France. These NFTs are called Parsell®. For example, if you plan to set up an apartment located in the 10ᵉ arrondissement of Paris, you will have to pay a fee to the owner of the NFT bearing the postal code 75010. However, investors who do not wish to buy real estate will be able to still interact with this metaverse.

As explained above, the holder of an NFT Parsell® earns a commission on the saving of the Parsell® in question. There are two types of Parsell®:

  • Premium Parsell® which represents 7% of NFTs issued. These areas correspond to the most coveted postal codes, and will be gradually sold via auction.
  • Parsell® Explorers represent tradable areas on the secondary market at free-floating prices set by their owners.

The $SITY token, fuel of this new real estate metaverse, available via an ICO soon!

All interactions within  Versity® will be made in $Sity®, the platform’s utility token. This real estate metaverse has its own cryptocurrency based on a real-life economy, namely the sale of property. This is where Versity® intends to thrive.

After enjoying a dazzling success in private sales, the project will launch its ICO on June 23rd. The objective of this operation in five rounds will be to raise $10,000,000 to accelerate the development of the project. 14% of the total supply of $Sity® will thus be offered for sale to the general public (i.e. 1,400,000,000 tokens). Leading up to the ICO, the price of the token will vary according to the different rounds as follows:

  • Round 1: unit price set at $0.0045   
  • Round 2: unit price set at $0.0050
  • Round 3: unit price set at $0.0060
  • Round 4: unit price set at $0.0075
  • Round 5: unit price set at $0.0100
  • Listing: unit price set at $0.0150

Les Agences de Papa want to conquer Web3 with the same enthusiasm that has driven them since their creation. After transforming the real estate sector by drastically reducing agency fees, entrepreneurial Dads created a new innovation brought to life in the metaverse. Although their first desire is to minimize the loss of time during property visits, the platform developed by the people of Nice will take the form that its community will want to give it.

Building on their success, the entrepreneurs of Les Agences de Papa can count on major players to spread this new initiative. Indeed, many strategic investors took part in Versity®. In addition, the Agences de Papa have found Teddy Riner, a famous athlete who is a strategic partner and someone who will continue to work alongside the entrepreneurs, contributing both financially and in terms of their brand image. To ensure you don’t miss any Versity®, we invite you to follow the project on Twitter and in its Telegram announcement channel. — Sponsored article

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Ian Henshaw avatar
Ian Henshaw

I’m the co-founder of NFTexplained.info, an NFT site focused on creating educational content primarily for people entering the NFT space. I spend my free time researching crypto and NFTs; I love sharing my knowledge!

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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