The founder of TechCrunch and Crypto Investor Michael Arrington (Michael Arrington) in 2017 purchased an apartment in Kiev through the Propy Real Estate Platform using Ethereum as payment. Now the apartment in the capital of Ukraine will be sold again on Propy, but this time as NFT. Start price will be $ 20 thousand.
NFT or non-violent token – unique files that are a chain of blocks and can confirm the ownership of anything, mainly on the work of digital art. Each NFT has its own digital signature based on the blockchain, which serves as a public registry, where you can check the authenticity of the asset and ownership of it.
Arrnington himself declares that he sees huge prospects in NFT. He suggests that one day it can turn into new lending schemes in the world of decentralized finances. As for the sale of real estate as NFT, in the auction process, signs proprietary legal documents for non-violent tokens to convey the ownership of an apartment to any future buyer. According to Propy, after the completion of the bidding, the seller will receive payment in cryptocurrency.
It is reported that real estate in Kiev is registered as the property of the company from the United States. The new owner of the NFT will be the owner of this company and, therefore, will receive an apartment. This process will be repeated every time the token will be resold.