Real Estate Sold on Opensea attracts Attention

• Art has been center for NFT development
• Utility will take that development to another level
• Real estate transactions took place via stablecoins

Since the beginning, it has been an important part of the NFT discussion, and every week, more and more NFT use cases come to light. This week, the real estate market is all you need to see because a typical South Carolina home that tokenized and sold the deed on OpenSee last weekend is all over the Internet.

Art has ultimately served as the foundation for the development of NFT, and utility will take that development to the next level. This does not diminish current NFTs in any way; rather, it demonstrates the speed with which NFTs must enter even more mainstream applications.

Roofstock onchain provides a clean UI overlay 

Even though utility-driven NFTs are not new, they are still in the hourly hours when more and more unusual NFT use cases are emerging. 

The most recent illustration of this can be found in real estate: a three-bedroom house in Columbia, South Carolina, sold for $175,000 after being listed on Opensea by a Web3 property managed by the real estate fintech company Roofstock.

OpenSea was used for the transactions, and OpenSea’s NFT attribute display was used to display asset attributes like square footage and the year built. The business also has a marketplace dashboard powered by the Genesis protocol. It is a collection of brand-new real estate market tools.

The website listing, which is owned by Roofstock onchain, a subsidiary of Roofstock, overlays the entire thing with a clean user interface while still instantly and clearly displaying Etherscan transactions. The transaction, which was carried out using USDC on ERC-20, is yet another exceptional use case for NFTs.

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Utility will continue to be a focal point 

Web3 and NFTs have been the foundation for a wide range of real estate projects, such as those that present properties as micro-investments and depict actual real estate assets. Keep an eye out for more and more buzz about the utility; as a result, new NFT market participants will continue to focus on it.

The chart is from TradingView.com, and the featured image is from Pixabay. The author of this content is not associated with any of the parties mentioned in this article.

This is not advice about money. The opinions expressed in this opinion piece are those of the author, not necessarily those of the Bitcoinist. Bitcoinists are also proponents of creative and financial liberty.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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