Florida will have the first auction of a real estate NFT in the United States

The juicy market for buying/selling properties in Florida next week will take a further step in its development by combining for the first time in U.S NFT (non-fungible token) technology and real estate with an auction of a house on the east coast of the state as an NFT.

It is a Spanish-style architecture house located in the coastal city of Gulfport, which has 200 square meters built, with five bedrooms and 3 bathrooms, and about 700 meters of land.

The starting price will be $650,000 in this auction that will take place on February 8, according to the website of the real estate company Propy, based in Palo Alto (California).

The novelty is that the bids must be made in cryptocurrencies and through blockchain technology and what’s for sale is the title to a house owned by a limited liability company (LLC).

All potential buyers will need to register and connect their virtual wallets in order to make an offer.

The NFT of the title to the property will be stored in the crypto wallet of the buyer of this home, which was put up for sale by Leslie Alessandra, a Florida real estate agent who also co-founded a blockchain company, Propy noted.

Alessandra explained to the Tampa Bay Times on Friday that owning the property rights to this NFT would allow homeowners to sell a home as quickly as a transaction on the popular mobile money transfer app Venmo.

With this new modality, by which the owners of the NFT will have a new way of proving ownership of a home, a circle created by the increasingly common use of cryptocurrencies in real estate operations or to take out a mortgage is closed.

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Recently, an operation to purchase a luxury apartment in the heart of Miami, in the southeast of the state, was revealed for 7 million “USD Coin”, a type of cryptocurrency known as “stable” and which is guaranteed a value equivalent to the dollar. .

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