The most recent sensation is the sale of a tokenized real estate property by the North American real estate company Roofstock, which consisted of a 3-bedroom house valued at 175 thousand dollars.
How do you buy real houses in NFT?
The various events that have occurred worldwide have led us to get involved with a much more digitized economy, where multiple sectors have been applied for the simple fact that they must be constantly updated.
The digitization of the economy and finance demonstrates the evolution of commercial transactions, which, after the pandemic, had to be transformed for the simple fact of not disappearing, which resulted in a new opportunity for growth for many individuals and corporations.
New trends in digital operations have transcended, involving various sectors such as real estate, which in its constant search to cover the most significant number of customers, has enhanced its options.
The impact of blockchain technology and cryptocurrencies is so significant that at the time of the appearance of non-fungible tokens, the general public did not hesitate to support digital art; thousands of Internet users have become faithful followers of the NFT. To keep track of your portfolio you can invest in cryptocurrencies through portals like this app.
The fusion of the real estate market with the digital financial sector and cryptocurrencies has generated significant interest in users regarding the form of real estate investment using NFTs.
Real estate NFTs operate the same way as any other non-fungible token; everything consists of trading through a cryptocurrency selected by the seller. Later, these are stored in an electronic wallet.
In the specific case of NFT real estate, these have characteristics similar to shares; that is, real estate is offered, and the sale is executed more like a purchase of shares or a portion of the real estate project, where ownership of the real estate is only part of the business as such.
The real estate sector is tokenized.
The sale of this property by the Roofstock Company has been considered a historical sale. In addition, technology offers advantages to real estate investors where slow, cumbersome, and bureaucratic processes are eliminated.
Rentals, purchases, and sales of real estate properties are some of the services that can be executed in the real estate sector, where the management and negotiation of tokenized properties become much easier and more comfortable.
On the other hand, in compliance with property laws and regulations in the United States, the property to be sold must be registered as the property of a limited liability company (LLC), where once this requirement is met, the property is auctioned as an NFT.
To be auctioned, the property must obtain KYC to keep transactions in the digital financial market transparent and legal, avoiding the illegal use of money.
When the property is sold, the rights and shares of the LLC are transferred to the buyer.
Several companies have joined this wave of cryptographic investments to evolve towards Web3 and take full advantage of the benefits this platform is supposed to bring to business and service operations.
Real estate companies that sell tokenized goods
Diversifying investment portfolios and digital assets available in the market for any user becomes much timelier in the face of the digitized society being established worldwide.
For this reason, the real estate sector could not be left out of the use of blockchain technology, and some of the companies in the real estate sector that are immersed in NFTs are listed below.
- RealIT: is the pioneer company in the tokenization of real estate, located in the USA. It offers various investment opportunities for the general public, offering a set of properties and fractional property titles without permission and inconveniences with the blockchain of Ethereum.
- Reental is a company created in Spain through which users can invest tokenized real estate from an amount equal to or greater than 100 euros, obtaining passive income from these investments.
- Propy operates as a real estate marketplace based on Ethereum technology. Real estate can be purchased and sold using cryptocurrencies or legal tender.
It is a considerably new market where the risks have yet to be estimated. Still, the security and trust characteristics generated by this type of financial instrument (NFT) allow you to search for any real estate investment quickly; its property records are pretty safe and unalterable.