Florida Property Recently Auctioned Off As An NFT
In what seems to be a first for both real estate and cryptocurrency, a Florida property was recently auctioned off as an NFT (non-fungible token).
The four-bedroom property in Gulfport sold for $653,163 in ETH, and the victorious bidder now has the NFT, indicating ownership on-chain. 50 people signed up for the auction however only 2 actively participated in the bid during the sale.
The deal was hosted and completed by Propy, a blockchain real estate business. "This is only the first sale in our pipeline, and we&39re seeing a lot of demand," Propy CEO Natalia Karayaneva said in a statement.
According to Karayaneva, the home&39s property rights were minted as an NFT, which reduces closure time. The property will be owned by the NFT holder through a LLC (Limited Liability Company) that stores the crypto asset.
Propy previously sold TechCrunch founder Michael Arrington&39s Ukrainian studio apartment for around $113,176 in ETH in 2021.
Top News
42 months ago
42 months ago
43 months ago
43 months ago
43 months ago
43 months ago
43 months ago
43 months ago
43 months ago
24250 months ago
More From The News
Press Releases
Payments
New Payment Limit For Crypto Wallets Scrapped
The recent Anti-Money Laundering re... Read more
Bitcoin
Bitcoin Undergoes Price Correction As International Economies
A significant portion of the crypto... Read more
Join Our Newsletter
Get the latest trends and updates on our crypto community.