Propy, a Blockchain-driven real estate trading platformAnnounced today that it will auction NFT-backed by real estate-located Kiev, Ukraine, This is the first ever real estate sales based on blockchain.
The apartment will be publicly auctioned on June 8, 2021. The NFT for the transfer of real estate ownership will be auctioned within 24 hours, with a starting price of $20,000 for the first listing.
In 2017, the property was sold to Michael Arrington, founder of TechCrunch and Arrington XRP Capital. The transaction is carried out entirely through smart contracts on the Ethereum blockchain using cryptocurrency, which is the first property ever sold and transferred on the blockchain.
Propy is supported by blockchain investor Tim Draper and has helped thousands of agents and home buyers make quotations and complete transactions worth more than $1 billion through its online platform.
“This time NFT will be recorded in history. For Propy, this is an important milestone in the use of blockchain technology and the promise of non-fungible tokens (NFT) to realize self-driving real estate transactions. Real estate as an asset class will become decentralized finance Part of the economy.”
– Propy CEO Natalia Karayaneva
This unique collectible NFT includes:
- Obtaining paperwork for ownership transfer
- Apartment Pictures
- Kyiv graffiti artist Chizz’s digital art NFT (the physical painting of the artwork is drawn on one wall of the apartment)
The seller signs proprietary legal documents for NFT to transfer ownership to future buyers; conducts NFT auctions and receives payment in cryptocurrency. After filling in the KYC details (name), the auction winner will become the owner within one minute.
“It is very exciting to promote innovation and use cases around blockchain technology and real estate. This NFT PoC can continue to develop larger tools in the DeFi field to realize mortgage loans and P2P mortgage loans.”
– Michael Arrington, founder of TechCrunch and Arrington XRP Capital
Details of NFT sales are available Here It will be constantly updated to include property information, answers to frequently asked questions, etc.