A real estate -supported NFT was sold for $ 653,000
A real estate -supported NFT was sold for $ 653,000
- NFT sale could "develop into a standard in the industry [real estate] industry," said a blockchain startup manager
- The NFT can now be used as security for crypto creditors and lenders
A house in Florida was auctioned as a NFT (non-foamable token)-a potential premiere for both real estate and for cryptocurrencies.
The house with four bedrooms in Gulfport was sold for $ 653,163, and the highest bidder now holds the NFT, which means that it is an on-chain property.
Propy, a blockchain real estate startup, has hosted and made it possible.
"This is just the first seller in our pipeline and we see a great demand," said Natalia Karayaneva, Managing Director of Propy, in a statement.
The property rights of the house were shaped as NFT, said Karayaneva, which shortens the closing time. The NFT owner will have ownership of a limited liability company (LLC) that houses the crypto asset.
The property -assured token can be used as security for crypto creditors and creditors.
Propose beforehand Sold the studio apartment Michael Arrington in Ukraine for around $ 113,176 $ Ether last year.
NFT sales could "develop into a standard in the industry [real estate] industry," said Karayaneva. "The NFT sales reached $ 4 billion in December 2021, and real assets will soon make up a significant part of this market."
The former enforcement lawyer of the Commodity Futures Trading Commission (CFTC), Braden Perry, told Blockworks that real estate has an "enormous upward potential" when it comes to NFTS and blockchain technology in general.
But the regulatory environment in the USA, said Perry, "lags behind the innovation" to adapt to it.
"The [Real Estate] The title process is ideal for optimized and protected records in a blockchain," he said. "But the regulatory system is still new and there are many questions about the role of the government at Krypto."
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The Post A real estate -supported NFT for $ 653,000 is not a financial advice.
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