It's been close to 50 years since the rock group Queen asked the questions: "Is this the real life? Is this just fantasy?" in the classic Bohemian Rhapsody. Commercial real estate is trying to find some answers.

You can't blame them in a buzzwordy world where the latest hot entry is metaverse. Graystone Company just announced that it's created a separate division and budget to buy virtual property. Originally a move planned for Q4 2022, the company decided to move things ahead to February.

"We decided to move this project up to the 1st Quarter of 2022 as established retailers and brands like Louis Vuitton, Dolce & Gabbana, Gucci, Balenciaga and Ralph Lauren have been making inroads into the metaverse and the market has responded positively with steady growth," the company said. "The newly established division will be actively working not only on acquiring and developing parcels in the Metaverse, but also seeking joint ventures and strategic collaborations with other companies that wish to market and move their product lines to the virtual platform."