Real estate industry

NFTs will improve the real estate sector

With a market value greater than $40 billion, the NFT industry is one of the fastest growing sectors in the world. The industry started with digital artists selling stand-alone artwork, and today it has grown into an industry teeming with thousands of projects that have the potential to transform major industries around the world.

In just a few years, the NFT market has entered a head-to-head competition with the global art industry and is poised to disrupt the gaming, fashion, global supply chain and metaverse industries. Even in the financial field, Financial NFTs are finding creative ways to solve some of the most pressing digital asset problems.

NFTs are now entering and disrupting the $34 trillion global real estate market. With the ability to represent a single property and enable immediate transfers, NFTs in real estate are transforming real estate transactions into an open marketplace for global, instant transactions. In this regard, LiquidEarthcreates the first real estate NFT marketplace and peer-to-peer lending platform.

How NFTs are transforming real estate

NFTs are the by-products of blockchain technology, similar to cryptocurrencies, but what makes them unique is their non-fungibility. On Ethereum, NFTs follow the ERC-721 standard and are issued via smart contracts. These smart contracts assign a unique hash code to each NFT which acts as an identifier and cannot be replicated.

NFTs can only have one owner at a time and the hash code allows for trace the owner at any time. It is these features that are used in the LiquidEarth real estate NFT market.

LiquidEarth is a platform that tokenizes real-world assets as unique tradable NFTs that represent true property ownership and up-to-date appraisal value. The platform is among the first in the industry to integrate real estate with NFTs to enable seamless interactions between buyers and sellers. This integration digitizes land ownership which retains all the rights and legal protections offered by traditional ownership. The issued NFT can then be exchanged for the actual deed and other closing documents of the underlying property.

Platform users can buy and sell goods instantly using a range of cryptocurrencies including USDC, Ethereum, Algorand, Avalanche and others. This means that the whole process of buying and selling a property becomes easier and faster. Additionally, buyers who were previously confined to purchasing real estate within their geographic area can now easily purchase properties across the globe. LiquidEarth aims to bring over $100 billion to the crypto markets through real estate NFTs.

Over time, buying and selling real estate in the form of NFTs is also more affordable and sustainable for buyers and sellers. LiquidEarth users can save up to 4% of property value by purchasing it as NFT.

To prevent the theft, loss or fraud of goods, there are several security measures in place in the market, including KYC/AML, and a recovery mechanism to return the NFT to the true owner.

LiquidEarth is rolling out innovative features this year. Users will have access to the first-ever real estate-backed NFT leverage platform that allows them to borrow against their NFT or crypto assets to buy NFT properties in the market. The company will also introduce the staking economy to encourage users to stake their NFTs and earn tokens. Users will be able to sell or trade their NFTs while they are still staked on the platform and gaining value.

LiquidEarth is the first of its kind in the real estate industry and may prove to be the next step in the evolution of the world’s largest asset class.

Market integration

See you $325 trillion, the value of real estate assets across the world has not been incorporated into the crypto industry. With the introduction of NFTs, one of the most valuable and stable asset classes is about to completely change course. Companies like LiquidEarth are opening up new dimensions in the real estate market by integrating with the crypto market.

By allowing a fluid interaction between buyers and sellers, the project aims to change the very composition of real estate by bringing in new players through instant real estate transactions. These innovative assets will create new opportunities and a level playing field where buyers, sellers and agents can easily buy and sell properties.

Image by Sebastian Wagner from Pixabay

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