Fine & Country has made its latest move in the metaverse with the launch for a second non-fungible token (NFT) linked to a property being sold by the upmarket agent.
Premium estate agency Fine & Country Richmond has partnered with developers Burbeck Capital, to launch an NFT – a digital version of a physical asset - linked to the sale of a £3m property in Barnes, west London called Birch Brooke
Described by the developer as one of West London’s most unique properties, the four-bedroom home sits close to the Beverley Brook River.
The NFT will be created to the exact specifications of the physical property, with the buyer of the physical home given the first rights of refusal on the purchase of the digital asset.
Sean Barrett, managing director of Fine & Country Richmond, said: “While owning a property within the metaverse is a relatively new concept, the market has been growing and continues to gain momentum.
“As I mentioned when we launched the previous property NFT, despite the recency of the metaverse innovation, according to a recent poll in YouGov, 29% of the population think that being able to own digital assets such as NFTs or virtual property and land in the metaverse is a huge opportunity attracting investors around the world.
“As the demand for virtual property and land grows, we will continue to see more and more properties that will be built in both physical and virtual worlds. Most of us have heard the expression attributed to Mark Twain – buy land, they’re not making it anymore. Purchasing virtual property is opening up new real estate opportunities for investors looking for something unique.”
Jack Willcocks, managing director of Burbeck Interiors, added: “We are delighted to partner with Fine and Country Richmond on this project, they share our enthusiasm for innovation, supported by a strong foundation of knowledge in the property sector.
“For us, the collaboration on launching an NFT reflects an extension of our overall design, a metaverse piece of art that is also a digital asset.”