Matterport, Inc. (NASDAQ: MTTR) shares barely moved Thursday, as its partner, VRPM, a leading visualization and virtual staging platform, demonstrated how Matterport’s Digital Twin Platform is being applied to virtual staging for interior design in the commercial real estate sector.
VRPM is one of the leading virtual staging platforms in the U.K., which with Matterport’s technology has scanned over 15,000 properties. As the impact of the COVID-19 pandemic reshaped the business landscape, VRPM experienced a surge in demand for virtual staging and design solutions addressing challenges such as varying occupancy levels and increased distancing between workspaces.
Collaborating with Compton, a London-based office and investment real estate firm, VRPM uses virtual staging within Matterport 3D digital twins to provide potential tenants an authentic sense of what it would be like to inhabit a space. Utilizing Matterport’s developer tools, VRPM has created a virtual staging app that seamlessly integrates with 3D scans, enabling collaborative design processes within an immersive digital twin.
Virtual staging’s future extends beyond just securing tenant leases. It now emphasizes enhancing real estate customer experiences by considering the needs of prospective occupants, such as office furniture requirements or the desire to fully replicate the virtual staging. Traditionally, commercial furniture manufacturers used standard architectural models to display furniture in buildings. However, with Matterport’s digital twins, VRPM can create virtual stages with 3D objects that accurately show a piece’s appearance and fit in a space. VRPM aims to make these stages shoppable, allowing tenants to directly purchase the furniture and décor they see from the manufacturers.
MTTR shares docked half a cent to $2.30.