Tristan Bishop Pan: Real Estate Is Being Sold In the Metaverse

Real estate, Tristan Bishop Pan says, has been the biggest driver of wealth for centuries. “The question, however, is why it’s valuable. Yes, it gives you a place to stay, and we all have a basic need for shelter. Its value is more than that, though.”

Tristan Bishop Pan explains that real estate is valuable because it’s limited. “We cannot produce more of it. It has a limited supply. This is why coins like Bitcoin are valuable – there’s a limited supply. Once Bitcoin runs out, it’s gone. Then you will be just trading the same ones over and over again. This is unlike real life currency since governments can just print more of it. Now, what if I told you that real estate on the blockchain in the metaverse is also valuable?”

Tristan Bishop Pan continues, “I’m going to go ahead and give you a lot of the arguments that the naysayers are going to say, including that this and all NFTs are just another scam. Well, first off, I highly disagree. Look at Sandbox, which is one of many projects that has come out with real estate on the blockchain. You can already do this within game environments, including Fortnight.” 

There are many game universes out there where you can buy a piece of real estate, Tristan Bishop Pan says. “For the non-gamers, for the developers, and for the general public that wants to create an entire new world on its own outside of an immediate type of gaming universe, this is a real thing.”

There are places like Sandbox where land is being sold, Tristan Bishop Pan reveals. “In the metaverse, land is being sold – digital land where you can hold whatever events that you want to subject to the laws of that land. The laws are made by the people who own it.”

Tristan Bishop Pan adds that there are no politicians, no elected officials – instead, everybody gets a fair vote. “There is no gerrymandering in the metaverse, and as it stands, everybody gets a vote. Everybody’s vote counts equally – sort of.”

In the metaverse, Tristan Bishop Pan says, you can get land, which costs more than some of the rural lands in the states that we live in. “So, let’s think about this. A piece of blockchain technology with a series of zeros and ones on a chain is what makes a piece of land be worth more than some real land in rural parts of the U.S. and probably many parts of the world.” 

This is the reality of the blockchain, Tristan Bishop Pan reveals. “This is the reality of what you’re coming to and people who buy those lands just like they buy real estate in the real world. Here’s the thing: real estate transactions in the real world, as they stand now, use either title companies or attorneys. Those are the two most common methods of paying for or transferring real estate.”

What is a deed of trust other than an NFT, Tristan Bishop Pan asks. “That deed of trust is recorded at the Register of Deeds and then within that county just like it is on an NFT. The difference is that an NFT is recorded and immediately verified by hundreds, if not thousands of people along the way. It is a permanent record that can’t be destroyed by pesky little things like fire, like the great fire in New York that destroyed the records of immigrants that came to the United States through Parris Island. We won’t have that on the blockchain, at least not in its current state.”

Ultimately, the innovation in blockchain technology means that a lot of people are poised to make a lot of money. “I can’t give you financial advice, of course,” says Tristan Bishop Pan. “Just keep your eyes and ears open. You may learn of some incredible projects that will lead you to some returns that can change your life.”