My cynical forecast is that a lot of people are going to lose a lot of money buying things that only exist in the Metaverse.

I don't understand the crypto world.  I am super cautious about entering into that pool.  I think values are propped up by speculation--never a really good thing as far as I'm concerned.

In God We Trust, everyone else pays CASH!

It is good that I have retired. 

Lost in Space 🤣

This may cause bit of delirium for those who have not heard of such a thing Raymond. Show me the money!

So the brokers and agents should be paid in Ethereum.

From the article:

"Karayaneva said she hopes the NFT technology puts real estate assets into the hands of the next generation instead of institutional investors. Easing the transactional period of buying a home would lower fees, she said, and give millennial and Generation Z homebuyers more money for a downpayment."

Of course, if they converted that virtual money into real money they'd probably have enough to buy the house too.  Probably another fad.  Give me cash-money any day of the week! 

Raymond,

Say What???

I get the potential convenience and speed of the monetary transaction but how does this work out with the title work, transfer of deed, and even more importantly in my mind, the verification of seller identity and rightful ownership in a virtual transaction?  What are the safeguards from seller imposters?  What fees are lowered exactly?  Bank transfer fees maybe, but if that will break a deal, then that would be a big red flag for me.  Sometimes a little slower pace is not a bad thing. I need more info!

It should be very interesting and I am sure that banks are not happy about this sort of thing, haha.

Amusing- after the year crypto has had, I'm amazed anyone still has faith in it. I'm happy to be a greenback sideliner.

I haven't delved into this world. Maybe when I retire I'll have time to check it out. It is really taking off with the younger crowd. I think in time it will morph into something people can easily grasp and could be sometime everyone uses. In the meantime, some will lose money and some will gain. 

🍿🍿🍿
To see what happens next. This is all just adorable, but wait till the resale.

Yet another thing on the always growing list of things I don't understand.  

That sale took place not far from me.
I have chatted frequently about this evolution and the wide acceptance in the CIS countries where legacy systems were not such an impediment.
It is of interest to note the broker in the transaction if from Ukraine.
Fogginess does still exist in my mind regarding the use of an LLC owning the real estate and the NFT is attached to the LLC.  
Even if cryptocurrency does not become the norm, I do hope the protection of blockchain and smartforms creates the OPEN real estate transaction that eliminates a question often asked. "Did the seller see my dirtball offer?" Answer: EVERYONE saw it but the offer is anonymized, so the dirtball identity remains undisclosed to the public. 
THAT is the change I hope to see soon.

Kathleen Daniels, Probate & Trust Specialist nailed it and like Roy Kelley I am glad I am retired!

Hello Raymond Henson, eXp Realty crypto, bitcoin, ethereum, and other payment options are in the near future.

There are loan variations using bitcoin. 

I just posted a blog yesterday on how this Metaverse moment in time is similar to the infant stage of the internet and the famous segment with Katie Couric & Bryant Gumbel on the Today Show in the 1990's.

This is only the beginning. There are lots of security issues to be aware of currently (in my experience), mostly related to crypto wallets being hacked, but I do that there is a huge future in blockchain based real estate transactions.

I know enough to be dangerous, and I suggest we all become students of this new token based economy as there will be lots of potential.

People are already spending millions for "virtual real estate" in a place that doesn't really exist called the metaverse. Here is an article that discusses how much money is being spent on "metaverse real estate".

Buying Real Things with somewhat less real money?

Saw that and it'll be interesting to see how this all plays out.  I can't even begin to think that I understand it.  

Ray, you could be talking a completely different language.

We'll unavoidably see more and more crypto and digital coin transaction.