Per CryptoSlate:
Real estate platform Roofstock has completed the sale of a three-bedroom property as a non-fungible token (NFT) for $175,000.
The first on-chain house sells as NFT for $175K
10/19/2022
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The rental property located at 149 Cottage Lake Way, Columbia was sold on the Roofstock onChain NFT marketplace by transferring the Home onChain identity to an Ethereum address owned by the house buyer Adam Slipakoff.
Roofstock explained that each rental property is owned by a limited liability company whose details are encoded as an NFT (Home onChain) on the Ethereum blockchain. The Home onChain identity can be easily transferred whenever ownership of the underlying property is changed.
Adam Slipakoff said that the process of acquiring his new property using NFTs was less cumbersome than the traditional mortgage process.
See NFTs: unusualwhales.com/nfts
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