Real estate metaverse service developer ‘Parallel Space’
Preliminary on-site inspection of public auction properties made possible through virtual space
COMMAX VENTURUS announced that Parallel Space, a company nurtured by the accelerator COMMAX VENTURUS, won the grand prize at the ‘Public Data Utilization Startup Competition’ hosted by KAMCO (Korea Asset Management Corporation).
Parallel Space is a company that builds real estate metaverses by shifting the spaces where people dwell into a virtual world in parallel. Using LiDAR technology and high-resolution panoramic images, it possesses the technology to perfectly recreate offline information about real estate, buildings and more in 3D online. Leveraging 3D data, it provides meaningful information such as spatial size comparisons and time-series changes in sunlight and daylighting.
Parallel Space’s services are being used in the market for 3D real estate tours, contactless property viewing services, defect repair inspections and more, and it has boosted efficiency by dramatically reducing the shooting time required compared to the methods of existing competitors. Production from shooting to web is possible within two hours, and its advantages include a wide range of applications such as CAD compatibility.
In-person property viewings involve constraints of time and space, and it is difficult to grasp complete information in a single visit. In the COVID-19 era, there is also the drawback of the inconvenience of face-to-face contact. Under such circumstances, the service provided by Parallel Space reproduces online exactly the real estate one sees with one’s own eyes in the real world so that it can be experienced, and it is expected to deliver the effect of extending reality into the world of the metaverse.
Lee Ji-eun, CEO of Parallel Space, expressed her aspirations, saying, “In this competition, as we live in an era where real estate information can be accessed in 3D, we proposed a service that enables preliminary on-site inspection of public auction properties through virtual space so that OnBid can be used intuitively and conveniently. I believe this is what earned a good evaluation.” She added, “Going forward, we will transcend time and space to shift offline spaces online in parallel, and reinvent ourselves as a platform that expands and reinterprets space.”
Meanwhile, Parallel Space announced that it has successfully attracted investment from the Korea Credit Guarantee Fund, COMMAX VENTURUS and others, and that it plans to offer virtual interior design and sunlight/daylighting verification services within its contactless on-site inspection service going forward.