A House in South Carolina sold as an NFT

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The Crypto Times

A three-bedroom home in South Carolina has been bought by an actual property investor through an NFT market for $175,000, paid in USDC.

The sale of the home as an NFT was finished through the web3 subsidiary, Roofstock onChain, of real-estate firm Roofstock. 

The investor, Adam Slipakoff stated that “instead of waiting months for underwriting, appraisals, title searches and preparing deeds, I was able to buy a fully title-insured, rent-ready property with one click. Best of all, I am no web3 expert – the Roofstock onChain platform made it simple and easy.”

This marks the primary NFT sale of Roofstock. The firm’s chief blockchain officer, Geoff Thompson stated that this sale was a ‘major milestone’ in offering consumers with a easy strategy to buy rental properties.

Each rental property that’s listed as an NFT is owned by an particular person single-purpose LLC registered in Wyoming.

When consumers be a part of the location, they’re required to mint a non-transferable membership token. Each Home onChain is transferred utilizing sensible contracts, that are deployed on the Ethereum community, and your complete transaction takes place transparently on the blockchain.

This token is marked with a ‘verified buyer’ flag, permitting consumers to connect with {the marketplace} and purchase house NFTs.

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Compiled by Coinbold

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