NFTs – perhaps one of the most overtalked about, but under-understood elements of the blockchain world.
In this short podcast episode, I explore how NFTs could incentivise us to build better buildings.
If you cut through the headlines of JPEG NFTs being sold for millions of dollars, there’s some exciting technical evolutions, which could change how we share value in real estate.
By using an NFT, value uplift can be shared with the architects, engineers, planners, builders etc. whenever a building is sold in the future. Anyone who contributed to the project could be incentivised to have a long-term interest in the financial success of a building.
Effectively, it would enable a developer and their advisory team to have a long-term financial interest in a building, without having to hold on to that building for the long-term.
It’s like overage, but lasts for the whole lifetime of a building.
As it is written into code, it does not need legal input or renegotiation down the line. Therefore it could be as viable on a £300k flat as a £100m development site.
Listen below for more detail:
People | Spaces | Places 