Three Web3 Trends are Changing the Way People Buy and Sell Homes

Even in this slow-moving field, people are becoming more and more interested in blockchain technology. Here are some new Web3 real estate app development that are changing how people buy, sell, and manage the property.

Properties as Tokens

Decentralized finance (DeFi) services are not like the bank your grandfather used to go to. To make them work, a network of smart contracts, oracles, and blockchains is used. DeFi can offer better and more convenient service, making things possible that weren’t possible before, especially in areas that weren’t well served.

CitaDao.io is a DeFi platform for a piece of property that wants to be tokenized. By making it possible for DeFi apps to work together, they are trying to solve the problems of not having enough money, having limited access, and not being able to be put together. Communities can diversify their portfolios on-chain with the help of an Automated Market Maker algorithm and get steady returns from real-world assets that are always liquid.

Also Read : The Future of Internet: Web3

NFTs Deeds

Non-fungible tokens (NFTs) are very popular right now, but they can be used for more than just profile pictures and fan clubs. Propy’s patented technology and legal framework show who owns a piece of property by using tokens that can’t be changed into anything else. The blockchain keeps track of what was bought and gives people access to the legal documents that go with it. This makes prices lower for buyers and speeds up the buying process so that it only takes a few minutes.

On Propy’s NFT Marketplace, the USDC token is used to make purchases and sales. (USDC is a “stablecoin,” which means that it is less volatile than other cryptocurrencies.) In February, the property sold its first real estate-backed NFT. It sold a Florida property for 210 ETH, which was about $653,163 at the time. There were 3,000 bids.

Investment Split Up Into Parts

Real estate hasn’t always been easy to sell, which is one reason why less wealthy investors haven’t had as much access to it. At the same time, only the wealthiest people in different parts of the world have been able to take advantage of different property market trends. RealT is trying to solve these problems by letting people invest small amounts, starting at $50, with NFTs.

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