Fine & Country Richmond, the business that launched the world’s first super prime real estate NFT (Non-Fungible Token), has partnered with developers Burbeck Capital, to launch another unique property that will exist in both the real world and the digital one.
Located in Barnes, SW13, the property, which is called Birch Brooke, is positioned as the final property of Rosslyn Avenue, on the verge of the Beverley Brook River. Described by the developer as one of West London’s most unique properties, the four-bedroom home is modern and elegant in its design yet ideal for family living and entertaining.
The same can’t really be said for the Non-Fungible Token version of the house, which exists, uniquely, in the metaverse – wherever that is. It hasn’t been really explained what the point of the NFT is, but the idea would be to sell it to the owner of the house as well, just in case someone else ends up owning it, which would be irritating and disappointing for the owner of the real bricks and mortar house – assuming, of course, that they cared.
Commenting on what to many is a totally pointless exercise, Sean Barrett, Managing Director of Fine & Country Richmond, commented, “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.
“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.”
Barrett notes that as this home is unique in its design, it lends itself to being turned into a non-fungible token (NFT). “The NFT will be created to the exact specifications of the physical property, with the buyer of the physical property will be given the first rights of refusal on the purchase of the NFT. While owning a property within the metaverse is a relatively new concept, the market has been growing and continues to gain momentum.”
Fine & Country haven’t put a price on the NFT, but one has to wonder just how the owner of the new property could turn down the offer…