NFT and Real Estate-- what are the uses and will ppl use it?!

14 Replies

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!

It kinda sounds to me like those options are doable but not necessarily better than how it's done now. To overcome the initial inertia of adopting new processes it has to have a big benefit.

I think title should be on block chain and in theory eliminate title searches and junk like that.

the only re related NFT I've thought of is buying virtual real estate in software and video games. You can buy a strip mall with real money in a video game and collect real rent!

Agree title is a no brainer and the way they're organized right now is so outdated and archaic. Wow! I knew that folks were buying virtual properties, but had no idea that people are actually paying rent to live in them in virtual worlds. That's mind blowing!

The rehab is finished on my first fix and flip. I signed an agreement with an agent to get it listed. I also listed it for sale as an NFT on a marketplace. I am not expecting someone to buy it but hoping it brings some publicity to help raise the bidding price. I have to start marketing it now. I would appreciate any feedback.

I believe there's already some NFT real estate implementations in the crowd funding investment area.

https://realt.co

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.

Originally posted by @Allan Smith :

the only re related NFT I've thought of is buying virtual real estate in software and video games. You can buy a strip mall with real money in a video game and collect real rent!

Collect royalty or rent?  It's hard to imagine an efficient economy where people pay rent to virtual landlords

 

@Dillon Cook Check out SandCoin, I think it'll change your perspective. Beyond NFT's we're just on the cusp of some amazing advances for Block Chain applications when it comes to Real Estate. I'm very excited to see what the community comes up with next!!

Hey @Katrina Razavi your thoughts on this are actually quite intuitive! We have been working on Pocket Properties App for months and are getting really close to launching our App for IOS and Android soon!  if you would like more information on our project feel free to reach out to me at any time.