Real estate has historically been considered a great long-term investment. While land values themselves have appreciated over time, investors have also appreciated the “real” and lasting value inherent in “dirt,” which tends to stay in place irrespective of economic environment. (I say “tends to” since I live in California with its earthquakes and hillsides falling onto the Pacific Coast Highway.) Though real estate in today’s world is no longer limited to actual dirt, the presence and permanence of virtual land is less defined. As the contours of the Metaverse continues to take form, it raises the question: How real is the role of NFTs in real estate?
