According to Christies International Real Estate, what does 'metaverse' mean?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
Notwithstanding the preceding sentence, and subject to the terms of this Agreement, you shall have the right to offer and sell real estate brokerage services identified by the Marks through any other channels of distribution, including the Internet but excluding the metaverse. We reserve, maintain, and control all rights with respect to said metaverse. As used herein, "metaverse" means any 3D virtual space powered by technologies – including virtual reality, augmented reality, artificial intelligence, the Internet of Things, and blockchain – that allows people to interact with each other and to have lifelike experiences online.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, the 'metaverse' is defined as any 3D virtual space powered by technologies such as virtual reality, augmented reality, artificial intelligence, the Internet of Things, and blockchain. These technologies enable people to interact with each other and have lifelike experiences online.
Christies International Real Estate franchisees are granted the right to offer and sell real estate brokerage services identified by the brand's trademarks through various channels of distribution, including the Internet. However, the franchisor explicitly reserves, maintains, and controls all rights related to the metaverse. This means that while franchisees can leverage online platforms for their business, they are restricted from engaging in activities within the metaverse without direct authorization from Christies International Real Estate.
This reservation of rights over the metaverse has important implications for prospective franchisees. It ensures that Christies International Real Estate maintains control over its brand presence and strategy within emerging virtual environments. Franchisees should be aware that any plans to explore or utilize metaverse technologies for their Christies International Real Estate business would require specific approval and may be subject to additional terms and conditions set by the franchisor.