I saw your mailer in my LIstNerds inbox and thought it sounded like an interesting idea. I think there are a couple of points that feel odd to me. The first is that big gap between those who can own real estate and those who cannot. Tokenization will not necessarily close that gap unless it feeds community-driven co-construction. The next big wave of people who want real estate are not looking for investments, they are looking for stable housing. Tokenization cannot provide that, so people without enough assets to buy real estate for housing also do not have enough money to by tokenized real estate for housing. That means real estate will be an investment class for that big chunk of the world left out. I can't see that a huge amount of the savings and investment funds of people will go toward tokenized real estate. But I can see it providing a kickstarter-like path to real estate development for already somewhat wealthy people, which is interesting. Thanks for getting us thinking about this!

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