Journey into Metaverse Virtual Real Estate w/ Jason Cassidy - Step into the Metaverse podcast: EP15

Nfts are what represents this virtual land. So when we talk about buying virtual real estate, you're really buying a non fungible token and that's what NFT stands for. And just for the education aspect, fungibility speaks to the likeness or the sameness. So $100 bill in my wallet mark is the same as the 100 bill in your wallet. They have the same value, they're interchangeable, they're fungible and they have the aspect of fungibility. But if your daughter or your son painted a picture for you that would be unique, that is their artistic creation that could potentially be tokenized into an nft. And just like your home that has a deed to it is unique and has unique properties, dimensions of the home, the land, this is the same thing for the virtual space. Each piece of land has its own X and Y coordinate so it exists in a certain place. And as we know with real estate, location, location, location, this is the same in the virtual world.