"Luxury" is an overused term in the world of real estate. If you call everything luxury, then ultimately nothing is luxury, right? But let's ignore this particular debate for right now. I was recently in a meeting where our interior design team -- Mason Studio -- made what I think is an important distinction between "classic luxury" and "modern luxury."

Classic luxury is old school luxury. It is the kind of luxury that says, "you can't come in here unless you look like this." And I'm sure that all of you can think of brands that might speak to you in this way.

But I think this idea of luxury is quickly changing. Perhaps a good example of "modern luxury" is the recent collaboration between RTFKT -- the web3 digital fashion company that Nike bought last year -- and high-end luggage company RIMOWA.

This, to me, is a brilliant collaboration. It is a sign of what's to come -- an ongoing blurring of our physical and digital worlds -- and it is a less fussy kind of luxury; maybe I'll mint an exceptionally expensive piece of luggage, maybe I'll mint a digital collectible, or maybe I'll just hang out on Discord.

Now, one could argue that nothing has really changed and we're just talking about different kinds of trappings. But that doesn't feel exactly right. There is something about modern luxury that feels more inclusive to me. And I think that is why it is quickly becoming the dominant form of "luxury" -- whatever that means.

"Luxury" is an overused term in the world of real estate. If you call everything luxury, then ultimately nothing is luxury, right? But let's ignore this particular debate for right now. I was recently in a meeting where our interior design team -- Mason Studio -- made what I think is an important distinction between "classic luxury" and "modern luxury."

Classic luxury is old school luxury. It is the kind of luxury that says, "you can't come in here unless you look like this." And I'm sure that all of you can think of brands that might speak to you in this way.

But I think this idea of luxury is quickly changing. Perhaps a good example of "modern luxury" is the recent collaboration between RTFKT -- the web3 digital fashion company that Nike bought last year -- and high-end luggage company RIMOWA.

This, to me, is a brilliant collaboration. It is a sign of what's to come -- an ongoing blurring of our physical and digital worlds -- and it is a less fussy kind of luxury; maybe I'll mint an exceptionally expensive piece of luggage, maybe I'll mint a digital collectible, or maybe I'll just hang out on Discord.

Now, one could argue that nothing has really changed and we're just talking about different kinds of trappings. But that doesn't feel exactly right. There is something about modern luxury that feels more inclusive to me. And I think that is why it is quickly becoming the dominant form of "luxury" -- whatever that means.