Nonfungible tokens (NFTs) are the new talk of the town. It may also be entering a new market recently as a house in the US could be the first house sold as an NFT.
This four-bedroom house is located in Tampa Bay, Florida. It will be put on the market as an NFT by a local realtor on Tuesday.
The house’s property rights will be minted as a digital token. It may get sold for a minimum bid of $650,000.
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A local real estate investor, Leslie Alessandra, is selling the home in partnership with a real estate tech company, Propy, as per the listing.
The property rights of the house will also be accompanied by an NFT of an indoor mural, which has been designed by a local artist, Derek Donnelly.
Alessandra, who is also the founder of cryptocurrency company, DeFi Unlimited, said that she transformed the home’s certificate of authenticity into an NFT.
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It was achieved by turning the ownership into a limited liability corporation. By doing this, one can simplify the property sale process, according to Alessandra.
It could help people to theoretically sell a house with just a Venmo transaction, she added.
Christopher Vasilakis, a local real estate and virtual reality expert, told the Tampa Bay Times, “You’re essentially just selling a company, and the company owns that house.”
Amy Heckler, president, Heckler Realty Group, told WTSP, “It’s an exciting venture into what possibly could be the future of real estate.”
(With inputs from agencies)
