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Utility-Based NFTS: Solving Real-World Problems in Real Estate
In early February of this year, Leslie Alessandra sold a home in Gulfport, Florida for $654,310. That sale made real estate history as the first home sold as an NFT (Non-Fungible Token) on a blockchain in the United States. The home and other properties that have since been sold as NFTs and paid for in cryptocurrency all herald a sea change coming to the real estate industry. Like other assets that have been tokenized as NFTs on the blockchain—art, season tickets, carbon credits and more—real estate NFTs are gaining traction because they solve real-world challenges like process efficiency and transparency of ownership confirmation. Streamlining Property Transactions Using NFTs Selling a…