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Real estate is an asset class that’s been around since the dawn of time. But that doesn’t mean that the traditional methods of buying and selling real estate are the only way to invest.
Real estate is an asset class that’s been around since the dawn of time. But that doesn’t mean that the traditional methods of buying and selling real estate are the only way to invest.
Metropoly is a proptech startup that is revolutionizing the real estate industry by building a decentralized real estate NFT marketplace on the Ethereum blockchain. But first, let’s learn about what a real estate NFT is.
A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. So, it makes perfect sense that Metropoly is combining real estate and crypto on the blockchain to create real estate NFTs (RENs). RENs can be bought, sold and traded on the Metropoly Marketplace online. Each NFT on the Metropoly Marketplace is fractionalized and is backed by a real-world income-generating property.
The NFT represents your share of the real-world property and is also your certificate that ensures your monthly rental income. NFTs can be bought and sold on the Metropoly Marketplace in just seconds.
All Real Estate NFTs offered on the Metropoly Marketplace must pass a strict screening and selection process to ensure only the highest quality properties are offered on the platform.
Metropoly’s specialized team carefully vets the properties available and considers a third-party valuation before setting a score. The higher the score, the more likely a property will be listed on the platform. For this reason, only a tiny percentage of the properties viewed end up in the Metropoly Marketplace.
The real estate team at Metropoly evaluates crucial aspects of the property, including area, surrounding development, service charges, building quality, number of amenities, developer, and expected supply.
Once a property is deemed worthy by several real estate industry experts, the property is placed on the Launchpad where it is offered first to Metropoly investors like you. The property is offered for a set amount of time and the timer represents the period to mint an NFT. Usually, this starts at around 30 days but can range up to 90 days. Of course, if the property sells out faster, then you will have missed the opportunity, so it’s recommended that you invest in the properties you like as early as possible.
When a property is authenticated, and a REN is minted, all the information about the real estate asset is stored in the NFT’s metadata for security, verification, and data history. This information can be checked publicly on the blockchain, ensuring a safe and transparent trading environment. In addition, all previous transactions can be viewed on the blockchain, which gives you incredible insight.
Ready to get started in the world of real estate NFTs? Become an investor in fractional real estate with Metropoly for as little as $100 USD today. Check out Metropoly.io to learn more.
