NFTs or Non-Fungible Tokens come with a number of benefits and real estate professionals have devised new ways to capitalize on this new phenomenon. Though in the early stages yet, NFTs have shown great potential for the future. Read on to find out.
NFTs As Gift Items
It is not uncommon for the developers to gift the new homeowners. The gifts can be anything from artwork to rugs. Now even NFTs have entered the list and give the developers a straightforward gifting option for each of the buyers. Though a relatively new phenomenon, NFTs do make for a trendy, unique and unconventional gift item, particularly for those who are tech-savvy and want to make a foray into the NFT space. Moreover, NFTs belong to the asset class that appreciates overtime and allow the owners an opportunity to earn lifetime of royalty. With NFT adoption growing steadily NFT gifting has the potential to be a perfect gift to win over the homebuyers and strike a bond that would last for years.
NFTs As House
Some developers are willing to look beyond ordinary gifts and blend NFTs and the real world. The trend of purchasing virtual real estate in the metaverse is passé as the trend of buying brick and mortar properties through NFTs take over. This means constructing a house that exists in the real as well as the virtual world. This might appear farfetched to many but several countries have witnessed the trend of offering this new deal to buyers. Its value can be gauged from the fact that NFTs present a fast and transparent medium that would make home possession easy. Although it is still to be established yet it is generally believed that crypto-oriented sales would be far simpler and more convenient than the prevalent system.
NFTs As Transaction Module
NFTs bring much-needed transparency to the transaction. These are unique cryptographic assets on the blockchain with identification codes and metadata that differentiate them from each other. So, unlike other digital mediums which can be reproduced, NFT contains a unique digital signature that makes it exclusive and one of a kind and perfect for selling, buying and trading as they reduce the possibilities of fraud. NFTs can also represent individuals’ identities, property rights and more.
NFTs As Membership Cards
NFT-based memberships are exclusive programs that use NFTs as access passes to unlock a slew of facilities and rewards. Also renowned as “NFT token-getting” these memberships use blockchain technology to verify the ownership of the NFT and grant holders access to the member-exclusive perks on offer which might include pricing rebates and participation in a future metaverse the company might be speculating. Moreover, NFTs are also tradable. This means that unlike gym membership that has to be renewed periodically and which belongs to one person only the owner of NFTs can actually sell them for a profit.
NFTs As Initial Public Offering
Though it is too early to predict as NFTs and real estate are in a nascent stage but there are early signs that the phenomenon would grow and evolve in times to come. Experts believe that selling of NFTs will have a practical impact similar to that of any IPO on the stock market. They can help the developer with the infusion of cash while providing them with an asset that would appreciate as the demand grows. It is therefore not improbable to think that more developers would turn to NFTs as fundraising strategy.
If you are planning to invest in real estate then look not beyond SMC Realty. With a nationwide network of prominent developers we can help you crack the best real estate deal you can ever imagine. A simple call will get you going.