As digital technology continues to advance, Firethorn Trust recognises the need to move towards digitising the built world through a process that could be transformative for the way we interact with physical real estate.
We took the decision to purchase a unique portfolio of non-fungible tokens (NFTs) from Stak, the commercial real estate mapping solution, which has given Firethorn ownership of digitised blueprints of 12 of our logistics assets to mark the launch of an entirely new class of NFT to the market.
The blueprints are guaranteed and insured to be 99% accurate to the property’s true size under the Stak Verified trademark and, importantly, provide RICS-compliant data to inform valuations.
As a business, we are constantly pushing to innovate and enact change, and this principle underlines our entire approach to developing best-in-class logistics assets that are truly future-proof.
By purchasing NFTs of our recently developed industrial portfolio, we’re building on the work that we’re doing with our physical developments to open up even wider opportunities for innovation in the logistics sector and across commercial real estate as a whole.
The speed at which this space is evolving is fascinating, and I believe that in the near future we will begin to see these verified digital data assets being used to enhance how we manage and carry out due diligence on commercial real estate assets.
Chris Webb is founding partner of Firethorn Trust
Let the good times roll on a little longer
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