Someone was trying to get attention for a run of NFT—non-fungible tokens that are supposed to certify authenticity and ownership and which be used to facilitate real estate transactions. But more often they are part of some marketing scheme. In this case, a PR representative said that the company involved was moving from pilot project to production phase, which seems to undercut the concept of an NFT as being scarce and particularly valuable.

Which shows why many are wary of hyped concepts, like the metaverse, which is supposed to be a titanic virtual universe in which people from anywhere can interact. Maybe. As Wired put it in April, “To hear tech CEOs like [Meta’s] Mark Zuckerberg or [Microsoft’s] Satya Nadella talk about it, the metaverse is the future of the internet. Or it’s a video game. Or maybe it’s a deeply uncomfortable, worse version of Zoom? It’s hard to say.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Erik Sherman

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.