Still, when Okada first offered the NFT, it was valued at around $12,000; it is now worth half.
As his company seeks tenants for the building, it also puts the property up for sale as an NFT — essentially a ticket to acquire the deed.
Houses have been sold this way, but Mr. Okada, who is listing his building on OpenSea for $29.5 million or 15,105 Ether, the cryptocurrency that can be used to buy the NFT, said he believes this is the first time a commercial building in New York has gone down the same road. gone.
Whether this is the wave of the future or a marketing gimmick remains to be seen, insiders say.
Solana, which has signed a 10-year lease at 141 East Houston, has no plans to fill its new office with employee desk space — the company doesn’t need daily gigs. Instead, it plans to build out the space for meetings and boot camps, otherwise known as hacker houses.
Solana also plans to occupy a floor in EmpireDAO, the new web3 co-working operation, at 190 Bowery, a six-story former bank of landmark status that was long home to photographer Jay Maisel. Solana takes the floor for TerraUSD, a stablecoin that imploded this month.
EmpireDAO is intended as a kind of creator space for the web3 community. The management system will be cryptocurrency-based, said Mike Fraietta, the founder of EmpireDAO, but the landlord, RFR, requires rent payments the old-fashioned way.
“Our lenders need US dollars, we pay our mortgage in US dollars, and that means our rents have to come in US dollars,” said AJ Camhi, director of leasing at RFR Realty.