techcruch founder's apartment to be sold as NFT

almost 3 years ago (Edited)

Micheal Arrington is founder of techcrunch and a crypto investor he is going to sell his an apartment through NFT in kiev.Arlington purchased an apartment in Ukraine through the real estate platform Propy in 2017 and completed the transaction using Ethereum and smart contracts. To illustrate the performance of the industry over the past four years, Propy will auction the same properties, but this time it is an NFT driven by real estate. The starting price is USD 20,000.During the auction, the seller signs the NFT title deed to transfer the title to the future buyer. After the auction ends, the seller will receive the payment in cryptocurrency.The real estate in Kiev belongs to an American company,-Propy said in a press release. The new owner of the NFT becomes the owner of the legal entity and thus the property itself. This process is repeated every time the NFT is resold

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almost 3 years ago

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