Many would have others believe that NFTs are nothing more than tradable JPEGs, but this couldn’t be further from the truth.
NFTs: Revolutionizing Ownership
NFT stands for Non-Fungible Token – “Non-Fungible” meaning a unique signifier of ownership, and “Token” meaning a cryptographic record in a blockchain. NFTs can be described as unique records of ownership stored on a blockchain.
NFTs can be used for many purposes, as ownership is represented by them. Already, NFTs can be used to buy music, digital land, or heroes from blockchain-based games. The Sandbox.
New developments in blockchain technology make it possible for investors to acquire physical assets through NFTs. Tokenization is the process of encoding physical assets into a blockchain. Tokenized real estate is the most important impact of this development for investors.
Pioneering Metaverse Real Estate
Smart contracts are bits of software which enforce digital agreements and power NFTs. NFTs can be managed by smart contracts, which automate the handling of royalties, distribution of payments, and transfer legal ownership rights.
Smart contracts replace intermediaries such as banks, title agencies, escrow companies and buyers and sellers agents in real estate transactions. NFTs can make the real estate purchase process seamless and simple, decreasing the amount of time required to complete the transaction. This saves everyone involved from unnecessary hassles.
Futurent, an online platform for real estate investments, has seized this opportunity. Futurent allows investors to purchase real estate using fractionalized NFTs – NFTs that have been split into several pieces, each piece representing partial ownership in a property.
By splitting ownership between multiple investors, Futurent lowers the amount of capital that’s typically needed to enter real estate. Futurent allows investors to share the revenue from rental properties and create passive income.
Futurent, which is powered by a doxxed group, boasts a global membership and prioritizes property purchases in crypto-friendly areas like Dubai, Switzerland, or the Netherlands. Upon Futurent’s IDO launch in January of 2022, investors will be able to make purchases using top cryptocurrencies like ETH in addition to Futurent’s native FUTR token.
Futurent is diligently working to obtain large partnerships. These will soon be revealed. This partnership includes secure DeFi protocols to protect investor privacy, financial and lending platforms that maximize investor potential, as well as blockchain insurance providers for investor safety and digital land sale partnerships.
The metaverse is merging the physical and digital worlds through blockchain, NFTs, and cryptocurrency. Futurent is the leader in fractional NFT investment.