Use cases for Web3 in the physical world

If this image of Mark Zuckerberg’s avatar is forever burned into the ‘metaverse’ section of your brain, keep reading for a palette cleanser and perhaps a change in perspective.

Web3 technology is a category that has irrefutable implications for physical real estate and is changing the way in which people use and access space, democratizing access to real estate ownership, and more. Following are two Web3 technology use cases we’re currently tracking.

*Need a TLDR on Web3? Here’s a quick rundown.

1. Democratization of access to real estate: “While real estate has always been one of the most sought-after asset classes, it can be intimidating and inaccessible to non-accredited investors. Now, companies leveraging Web3 technology are tackling ways to unlock greater access to the real estate market,” says Fifth Wall Partner Dan Wenhold.

IRL example: Parcl is a real estate platform that uses digital representations of property values to mimic the behavior of real world real estate markets. This gives users access to price exposure of cities like Manhattan or Miami, or neighborhoods like Tribeca or Brickell, without the burdens of owning or transacting hard assets. Check out this video to see how it works.