Real Estate selling as an NFT.. things are a changing (1 Viewing)

dancarls

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I was just watching an interview about an apartment that was sold in 2017 using blockchain/smart contracts, this same property is now being sold as an NFT a digital asset.

This is such an interesting concept that I am still trying to wrap my head around it, Things are changing and I know a lot of people will say it's all BS but I do think this is the way that physical assets will be seen in the future, sales contracts minted on the blockchain with smart contracts.

Has anyone been following any of these recent concepts or trends?

I picked up DigitalRealty.ca just over 3yrs ago as I considered the internet and it's "metaverse" as future real estate niche?

Opinions?

Dan
 

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I've already heard they are selling physical art this way. What's more they can say split a million dollar piece of art into a million NFT's. So you can buy $1 worth or $10 worth, etc. With blockchain and digital tokens it can allow fractional sales of almost anything as long as you can trust the person/company sponsoring the sale. Potentially opens all kinds of investments to anyone. You could potentially own a small piece of a skyscraper in Manhattan, or a sports club, or a rare car. It sounds weird to us, but to the younger generations growing up in this digital age, it will be completely normal.
 

rlm

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Until its legally enforced as title to property, I wouldn't trust anything. If you bought a fractional share of an NFT what the eff does that actually get you? If a corporation owned a single piece of art, and you bought shares in that, then that company could make revenue from the sale of that art, or the licensing of that art in the form of authorized lithographs, etc..., or the leasing of that art to galleries, etc... That at least gets you certain legal rights. It may eventually be possible to have an NFT corporation where you buy NFT shares, but until that is legally recognized worldwide, you're 100% gambling. And until the govts figure out how to track those, they're not going to have any rights other than what the free market gives you.
 

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Sure, you have to be careful as it's early days and I don't even think there is much of this happening yet, but it's coming. And you have to trust the source, like we do nowadays with banks and our bank accounts and investments. It isn't hard to see one day owning a token or NFT in your digital wallet that represents a piece of ownership in some kind of collectible or asset, verified by a blockchain from a trusted source that's regulated.
 

MapleDots

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Yup, it is happening in real life
https://www.ctvnews.ca/entertainmen...youtube-after-nft-sells-for-us-761k-1.5441511


Picture0157.png
 

dancarls

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rlm said:
Until its legally enforced as title to property, I wouldn't trust anything. If you bought a fractional share of an NFT what the eff does that actually get you? If a corporation owned a single piece of art, and you bought shares in that, then that company could make revenue from the sale of that art, or the licensing of that art in the form of authorized lithographs, etc..., or the leasing of that art to galleries, etc... That at least gets you certain legal rights. It may eventually be possible to have an NFT corporation where you buy NFT shares, but until that is legally recognized worldwide, you're 100% gambling. And until the govts figure out how to track those, they're not going to have any rights other than what the free market gives you.

I believe in the partial shares your name is minted into the smart contract as part owner in that item, and would have voting rights as to what happens to that Nft.

It’s Definitely a head scratcher, and there will be growing pains but the move away from a centralized eco system is in the works.
 

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