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. Put together, NFTs are unique records of ownership that are stored in a blockchain.
Since NFTs represent ownership, their potential applications are only limited by the human imagination. NFTs are already being used to sell music, heroes in blockchain games, and digital land from metaverse projects, e.g. The Sandbox.
Additionally, recent developments in blockchain technology have enabled investors to purchase physical assets with NFTs. This is made possible by tokenization, the process by which physical asset ownership is encoded into a blockchain. This has many implications for the investments world, the most impactful of which is tokenized real estate.
Pioneering Metaverse Real Estate
NFTs are powered by smart contracts, bits of software that enforce digital agreements. Smart contracts make ownership management through NFTs extremely efficient by handling royalties, payment distributions, and the transfer of legal ownership rights.
When applied to real estate, smart contracts take the place of middlemen such as buyer and seller agents, escrow agencies, banks, and title companies. This gives NFTs the potential to make real estate acquisition seamless and easy, cutting down the investment process from months to seconds, saving all parties from hassle and headaches.
Futurent, a platform designed to make real estate investment easy, is capitalizing on 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. With Futurent, investors can also share revenue on rental properties, making passive income instantly.
Futurent is developed by a fully doxxed team, has a global membership base, and prioritizes property acquisition in crypto-friendly locations, such as Dubai, Switzerland, and 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.
The Futurent team is working diligently to secure several large partnerships, soon to be disclosed. These partnerships include secure DeFi protocols for investor privacy, finance and lending platforms for optimizing investment potential, blockchain insurance providers for investor security, and gaming partnerships for digital land sales.
Conclusion
Through cryptocurrencies, NFTs and blockchain, the digital and physical worlds are merging into the metaverse. Futurent, the pioneer in fractional NFT real estate, makes it easy for investors to enter the space.