NFT for Real Estate

As NFTs expand outside digital assets, real estate will likely be the first real assets where NFTs gain broader adoption.

Unlike with most physical assets, real estate transactions don’t require any physical interaction with the property, only the records around it. When you buy or rent/lease a home, condo, apartment, office or land or pay your taxes, you don’t physically move or do anything with the property as you would with your car or a collectible. The fact that real estate transactions mostly only involve changing of records and not the physical asset itself makes them a natural fit for NFTs.

Enable short term leases and a whole range of usage rights.

If you control or own any real estate at all, it makes sense to create an NFT for it. First, there is almost no cost and zero downside. Worst case, you spend a couple bucks to try something new and the NFT is never used. Best case, you instantly raise the value of your property and put it in marketplaces that can earn you money now, and potentially forever.

Ask yourself, why isn’t your home currently listed for sale or your apartment currently on Airbnb? Surely for the right price, you would sell or rent to someone else. One of the main hurdles is the marketplaces around real estate are only developing and add a high frictional cost. And even when you find a renter or a buyer, there is no guarantee of payment. NFTs can eliminate both those hurdles.

With NFTs, as soon as you mint one for you property, they can be listed on all the NFT marketplaces right now and anyone browsing could buy/rent your property (as an NFT) instantly with cryptocurrency.

Keep in mind NFTs don’t replace everything currently required for real estate transactions (e.g. taxes, deed transfers, etc.) but it offers a way to skip many of the steps that made the whole process difficult in the past. In the near term, NFTs in real estate will likely offer a complementary way to do things, rather than alternative. However, as services develop, we may not be too far away from a day when you could walk by a house you like and own it as you walk away.

Create an NFT For Your Real Estate