ROC facilitated the sale and liquidation of single family rental property SFR listed on its NFT marketplace powered by Origin Protocol.
Geoff Thompson, director of blockchain at Roofstock onChain, appreciated the simplicity of the operation.
The digital real estate platform Roofstock announced that it completed its first sale through an NFT . It did this thanks to its Web 3.0 subsidiary, Roofstock onChain - ROC.
For Roofstock, it's a significant milestone in providing a radically simple way to buy and sell SFR properties with a single click using Web 3.0 technology.
Using Web 3.0 technology allowed Adam Slipakoff to acquire the property more efficiently and transparently, and at a lower cost compared to the traditional US real estate market.
I never imagined that I would be able to buy and finance a home with a simple click, instead of going through the time-consuming and cumbersome traditional liquidation and mortgage process.
The investor stated that instead of waiting months for underwriting, title searches, and deed preparation, he was able to purchase a fully insured property.
Each property associated with an NFT
Real estate NFTs have gained traction in the past few months as more companies and investors have begun to embrace this new way of buying and selling properties. Real-life assets can now be bought and sold as NFTs on a blockchain, eliminating broker fees.
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