What rights does Christies International Real Estate maintain and control with respect to the metaverse?
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 the 2025 Christies International Real Estate Franchise Disclosure Document, Christies International Real Estate retains full control and rights regarding the metaverse. The franchise agreement grants franchisees the right to offer and sell real estate brokerage services through various channels, including the Internet, but explicitly excludes the metaverse. Christies International Real Estate reserves all rights pertaining to this virtual space.
The FDD defines "metaverse" 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 users to interact and have lifelike experiences online.
This reservation of rights means that franchisees are prohibited from operating or representing their Christies International Real Estate business within any metaverse platform without express permission from the franchisor. Christies International Real Estate maintains the ability to explore and exploit opportunities within the metaverse independently, without obligation to include or compensate its franchisees. This is a potentially significant consideration as virtual real estate and metaverse-based marketing become more prevalent.