Real Estate and NFT
Real estate will never be the same.
Forget what you thought about real estate and how it is transferred from person to person and how your parents and your parents’ parents purchased real estate. NTFs are here!
What do I mean? NFTs, or Non-Fungible Tokens, are unique cryptographic tokens that exist on a blockchain and cannot be replicated. And just this year, the first NFT home purchase was made in the US.
Organized by Propy, a real estate transaction management company, the home located in Florida was purchased using Ethereum cryptocurrency, equivalent to $654,000. Some people might wonder why one would NFT their property. According to Propy, there are a few good reasons why.
Easiness of the transaction and crypto adoption. As a crypto holder, the purchaser might be willing to spend a small percentage of their returns on something tangible and a real-world asset if the process is made easy.
Collectible real estate. As NFTs in real estate start to become more and more popular, investors will want to purchase a collection of properties. These properties may be super-prime areas and also may include unique digital art or architecture that can also be regarded as collectible.
There are so many other ways to include crypto in real estate and this is only the beginning. To learn more about how you can use crypto to purchase or sell real estate, click the link below to set up a consultation call. #WillieDavisRealtor