2nd House Sold as an NFT

House sold as an NFT

Yesterday, a Tampa real estate property was sold as an NFT. This was actually the second house sold as an NFT in the US. The first also happened to be in Florida. Florida is a natural choice if you want to have your house sold as an NFT because Floridians are obsessed with crypto! They love all things crypto including buying real estate.

The Stats

The house that sold as an NFT was actually a 1 bedroom, 1 bathroom condo. The auction lasted 24 hours and had a starting bid of 185,000 USDC. There were 2 bidders trying to win the property which ended up selling for 215,000 USDC. Within the last 6 months, other similar condos in the building have sold for $180,000 – $234,000. However, the vast majority have sold in the $180,000-$190,000 range. What’s great about that is that even though the house sold as an NFT, it still sold for a fair amount like a traditional sale. The seller didn’t lose money because it was sold as an NFT with crypto and the buyer didn’t overpay because of the new technology hype.

The Future

The world seems to be ready for this new way of doing a real estate transaction and I agree. I think this new technology has amazing potential! While NFTs won’t replace traditional sales until there are more financing options available, they will certainly become a main contender in the real estate game. Especially for investors.

Do you want to sell your home as an NFT? Be sure to read our blog Selling A House as an NFT. If you have any additional questions about buying or selling a house as an NFT, buying a house with crypto, or having your deed recorded on the blockchain, be sure to reach out to us. We would love to help you do it!

Thanks for reading!

Chrissy Myers

MI Home Team

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