Last week, The Los Angeles Kings hockey team launched their first ever NFT, in collaboration with Crypto.com, the Kings’ official cryptocurrency platform partner. WAV Group is very excited to have Nelson Diaz on our team shepherding real estate toward Web3. Diaz consulted on the strategy and his partnership with Project Midas produced the art.
We are in a unique period of time in business. WAV Group has been spending a lot of time in Web3 and it is a steep learning curve. What is clear to me when meeting with senior executives in marketing and communications projects for NFT drops, is that most seasoned execs are clueless about this new genre of marketing.
Very little is happening in the Web3 space in the real estate industry today, but brands and companies outside of our industry are investing and learning. WAV Group believes that our clients need to learn this space. The biggest trend in NFTs right now is collaborations. We are looking for opportunities for our real estate brand clients to collaborate.
WAV Group has been entrenched in researching the NFT eco-system and has already initiated its first NFT project set to launch in Q1 2022. NFTs are tokens that allow you to own digital assets. In this example I am going to be talking about digital art NFTs that are owned on the blockchain. One of the most famous of all NFT projects is arguably Bored Ape Yacht Club
When real estate first encountered virtual currencies and blockchain, the immediate discussion turned to something like an immutable ledger and the disruption of the title industry - that is not happening anytime soon unless title companies adopt the technology and disrupt themselves. What is happening now - and happening in a big way ($27 Billion) - is virtual real estate in a space called the Metaverse; it is currently in its infancy.