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Federico Pomi
@fedepo
A primer by @fabrica https://blog.fabrica.land/the-rise-of-onchain-land
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Joe Petrich 🟪
@jpetrich
Love the idea, all ownership will be onchain someday. Practically, is the NFT land market only interesting to investors? It's hard for me to see a developer or resident (outside of crypto maxi residents) who would accept owning the NFT instead of the title itself, until governments just bring titles onchain.
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Federico Pomi
@fedepo
Well, possession of the NFT equals having title! A lot is how we communicate as we bring normies onboard. They are ready to switch given: 1. Low friction (on-ramps/wallets) 2. Familiar patterns (login vs connect) 3. SOLVE A PROBLEM E.g.: we have normies using fabrica to get loans they wouldn’t get offchain.
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Joe Petrich 🟪
@jpetrich
Sorry if I misunderstood, but the original post here explained that the title is held by a trust, and that trust continues to hold it as the NFT changes ownership. Is that not true? If I go to get a permit to build on the land, will the gov recognize me as the owner if I own the nft?
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Federico Pomi
@fedepo
Yes as nft holder you’ll get a permit to build on the land from the gov! You’re correct title is in the name of the trust but the nft holder is both the beneficiary and trustee so they have full unrestricted control of the underlying property. It’s basically a pass through trust.
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