NFT and Real Estate-- what are the uses and will ppl use it?!
I've been reading about NFT technology, it's so fascinating and there can be so many use cases in RE. I'd love to hear what others think and/or if others are building anything in this space. If you're not familiar with NFT's, there's a great list of articles here.
Some potential use cases:
- Title- one of the main value props of NFT is that it establishes provenance, given this is one of the most important (and expensive) pieces of real estate transaction, I think there can be a huge innovation in how titles are established, recorded, etc. in the future
- Fundraising- With Smart Contracts you can partition out equity in a property, making it easier to crowdfund and raise capital
- Royalties- the other value prop of NFT's is that it allows for second market royalties and such, this could be a new model of RE agent commissions? A new way for developers to monetize?
These are just a few ideas and would love to hear what you think in terms of the above use cases or other innovative ways NFT can transform the RE industry!
Most Popular Reply
I believe there's already some NFT real estate implementations in the crowd funding investment area.
https://vave.io/tokenized-real...
https://app.reinno.io/campaign...
in terms of these, I wonder if anyone, say folks here in BP would participate or invest in these platforms. Sadly some, like RealT only allow for accredited investors at the moment for U.S. investors.