Roofstock Sells Landmark Second House as an NFT

It is not uncommon for NFTs to be associated with physical items. We’ve seen this in art and fashion works, but what about home? This may seem like a novel idea, but roof stockReal estate tech firm has sold its second home as an NFT. The property is located in Alabama and is being sold for $180,000 on an Origin Protocol affiliated marketplace.

at home with NFT

Given how diverse NFT applications have become, it’s not too surprising that even homes are undergoing digital processing. The company’s chief blockchain officer, Geoffrey Thompson, reaffirmed that he believes the technology underlying NFTs is proving useful for buyers.

“The bottom line is that you will be able to trade real-world homes with one click using NFT smart contracts,” he says.

Interestingly, the loan taken to enable the financing of the home was arranged in partnership with the Teller Protocol. Through the protocol, users can access her DeFi lending services, which are backed by real-world assets. According to Sanjay Raghavan, Roofstock’s head of his Web3 initiative, customers must not only buy a property, but own it as a single-purpose limited liability company (LLC).

By selling the NFT, they are essentially selling ownership of the LLC.

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