Elementos generales
Palabras exactas
Búsqueda en el título
Búsqueda en el contenido
Búsqueda en el resumen
Filter by Categorías
Crypto News Noticias Criptomonedas
Noticias Ethereum
Token Alertas
NFT news Noticias de NFTs
Videos Crypto World Alerts
Best Crypto Sport Gaming
Tenemos empleo Criptomonedas
Noticias de Allmedgroup

NFT Market NFT REVIEW NEWS NFT Title Deeds Come to the Solana Network

Property deed tokenization using NFTs remains one of the most viable uses of the technology. With time, the trend is picking up despite a few regulatory hurdles when it comes to acquiring a license to sell security tokens. That said, Homebase, a crypto startup that was formed last year, has managed to tokenize its first NFT title deeds for a single-family home located in south Texas.

The home was valued at $235,000. However, within two weeks, Homebase was able to raise $246,800 for the property by tokenizing it on Solana using a smart contract that was tied to an NFT. Interestingly, the startup raised an extra $11,800, which was set aside to aid with “maintenance and other issues.”

Real estate tokenization offers a few perks for both home owners and investors. First, it helps property owners raise liquidly from these properties, and second, it provides anyone the chance to invest in and profit from real estate. Owning property is a dream for many individuals, however, given the astronomical figures involved, it remains out of reach for many people.

Homebase is Just Getting Started

One hurdle with real estate tokenization is getting cleared by regulators. In the Homebase case, the company spent seven months just to get the legal and compliance details ready for this property. As Domingo Valadez, cofounder and CEO of Homebase, notes, the overall effort took a year. That included filing with the SEC to be allowed to market security tokens to both retail and accredited investors.

All in all, 38 investors got in on the action, with the minimum investment of $500, according to the SEC filing, 30 of which were non-accredited.

Valadez notes they chose Solana due to its ease of use and cheap gas prices. As a result, 15 out of the 38 participants were able to create their first Solana wallets and buy fractions of the property as NFTs. Now, these participants are expected to hold on to these NFTs for at least one year before they can sell them freely. The NFTs represent their stake and accrued interest in the property.

After the success of this sale, Homebase says it is working on tokenizing its second property. The startup allows users to buy tokenized slices of property “in one click” using USDC.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

If this article, video or photo intrigues any copyright, please indicate it to the author’s email or in the comment box.

Source link in NFT Review Market


Crypto Review


Share This