The article argues that the concept of "entity thinking" from traditional centralized structures is being imported into web3 and causing the recreation of these structures in the form of DAOs.
To use an NFT to track ownership of a property, you’d have to wrap it in a legal entity, typically something like an LLC. The NFT has to essentially convey just ownership through ownership of the U.S. entity. The problem with that is you run into tax issues, and may be trading convenience for a possibly larger tax and transfer bill.
It can’t be denied that there is a burgeoning ecosystem of experimentation and innovation in human coordination without a central entity directing it.
What’s interesting right now is it’s a case where laws haven’t caught up with the technology. Laws across the [U.S.], and state municipalities, would have to change how deeds get recorded. Right now, you go to the county clerk’s office, you don’t go to the blockchain.