02/10/2022
‼️THE FUTURE IS NOW‼️
Next week a Gulfport, Florida, home will be sold as an NFT, non-fungible token, with cryptocurrency, possibly a first in the U.S.
This could be a game changer for real estate, ultimately shifting buying and selling homes to a faster and more fluid transaction. It is also the latest example of how the metaverse, cryptocurrency and NFTs are emerging into real estate.
Related, virtual property is catching the attention of investors and prime space is going for jaw-dropping prices.
Once property is purchased in a virtual word, owners can develop commercial buildings, residential structures, and other developments. How that will eventually translate to the real world is unclear; what is clear is the metaverse, blockchain and cryptocurrency are now part of the real estate lexicon.
A Florida real estate broker is set to build a mansion in Miami this year that will have a digital replica in the metaverse. The title will be sold as an NFT.
Once the term iBuying was as exotic as metaverse. Today, broker sentiment is shifting from “if you can’t beat them, join them,” as they find their own way into a version of iBuying.
“In a climate ruled by I-want-it-now expectations, it only makes sense to meet your clients where they are and let them sell and buy their homes (mostly) on their own terms and timelines,” said Brandon Brittingham, CEO, and team leader at the Maryland & Delaware Group of Long & Foster Real Estate.