Nft in real estate: what if it were the future?

How is NFT innovation progressing? Simple, it is slowly investing all sectors, not real estate. Here's what to know

At Luxforsale we are always attentive to even the smallest news regarding the luxury real estate world. In this context, we cannot avoid talking about how one of the greatest innovations of recent years - NFTs - are rapidly changing some characteristics of Real Estate.

NFT and real estate: what to know
NFT stands for Not Fungible Token and is a technology created to protect the reproducibility of a work of art, immediately finding fertile ground in the world of digital art. In a short time the NFT discourse has engulfed the entire discussion on contemporary art and today it seems that the future of the sector is entirely deposited in the algorithms of this innovation.
As often happens, however, revolutionary technologies quickly pass from one sector to another, bringing new ideas and opening scenarios that were previously unthinkable. Here then is that luxury real estate has begun to wink at NFTs, in a virtual game suspended between real and digital. From one day to the next, NFT platforms active in the real estate sector were born and based on the concept of the Blockchain (which is the basis of NFTs), the chain of blocks that protects digital property certificates.

What can happen with NFTs in luxury real estate?
Deciphering the future of the NFT - Real Estate relationship is quite complicated. Some of the most active platforms even divide the world into billions of plots of equal size and sell the virtual version. Theoretically, we could have the virtual digital twin of the plot on which the Colosseum rests. However, we are within the metaverse, where real and virtual intersect, creating an ecosystem that is often difficult to understand.
However, if we try to broaden our horizons and decline this technology in our daily problems, perhaps we can trace new paths. An example? Think of our land registry: this institution, centralized and managed by public bodies, guarantees us certainty and reliability in real estate transactions. Often, however, with the increase of high expenses and biblical operational times.

What if all this were managed in a decentralized and digital way through the technologies of the Blockchain and NFTs?

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