How To Build Your Own NFT Marketplace in Real estate? – A complete Guide

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NFT Marketplace for Physical Assets

The Covid-19 pandemic was a big bolt to the global real estate industry. However, the emergence of the metaverse came as a huge refresh. Likewise, investors started buying digital properties using Non-Fungible Tokens (NFTs). Transparency, uniqueness, and proof of ownership are the three big benefits. Are you that entrepreneur who wants to use the power of blockchain for facilitating the trade of real estate? Create an NFT marketplace for Physical Assets now.

What is the meaning of virtual land sold as NFTs? 

Digital assets are listed on an NFT marketplace. Investors can trade in real estate after checking the price, availability, and amenities. Is it free from intermediaries? Of course, yes! The entire functioning of a White-label Physical Assets NFT marketplace represents a Decentralized Autonomous Organization (DAO). 

Each unit of property is tokenized. Therefore, retail, as well as institutional investors can purchase farms, houses, lands, estates etc. Moreover, since the digital properties are listed on an online marketplace, buyers should possess native tokens. Accordingly, all token holders will receive rewards in the form of dividends, exclusive access to luxury facilities, and passive income through staking. 

Why is this an ideal time to launch an NFT Marketplace for Physical Assets?

  • The traditional real estate industry has been packed with intermediaries for a long time. Buyers have to deal with a lot of agents and brokers while purchasing plots. However, blockchain technology and smart contracts will be a game-changer. 
  • Transparency will be a big advantage for all stakeholders of the real estate industry now. Each tract contains information like the name of the owner, size, location, proximity to amenities, the offer price, and rights offered to property investors. 
  • Where is all the data recorded? Importantly, the pre-programmed software stores all the quantitative and qualitative information. All the information is immutable. Hence, no one can change the data anytime. 
  • Currently, the market for crypto collectibles is booming. This is because of popular NFT marketplaces like Cryptovoxels, Decentraland, Polka City, and Upland. 
  • Can digital art-themed as property be sold as an NFT? Of course, yes!. Content creators can sell GIFs, photos, and videos as real estate to investors.
  • Prospective buyers can make a bid after seeing a price. Later, artists will review all the bids after the end of the auction. Subsequently, they can accept the most lucrative offer and inform the respective investor. The buyer receives the files after he/she makes the payment.
  • As a result, the investor will enter the metaverse. They can access both the digital and physical formats of the house. 
  • Does the ownership remain with the creator? Yes. The NFT just acts as a digital certificate representing the purchase of properties. The public distributed ledger records all these details. All the information can be traced on the blockchain network. 

How does a Physical Assets NFT marketplace function? 

  • Artists need to register on the NFT trading platform. They need to submit information like their age, email address, name, and location. Moreover, content creators can also link their social media accounts. Thus, they can directly upload photos and videos. 
  • Further, the admin of the NFT marketplace will verify their identity after conducting Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. 
  • Creators can upload a file of their rare asset. Eventually, the digital artwork integrates with the distributed ledger. Hence, all the data is tamper-proof.
  • What do investors gain from buying a virtual property? Currently, the global real estate sector favors investors with deep pockets. The combination of blockchain technology, cryptocurrencies, and NFTs promotes democratization. Thus, even small investors can own fractions of property, which they could not afford earlier. 
  • Likewise, buyers of a digital property have full freedom after purchasing the NFT. They can hold it for a certain time, sell it later on a secondary marketplace, as well as divide their portfolio into different assets. 
  • What drives the mindset of investors? They can bid and buy different houses and homes after seeing the prices, return on investment (ROI), and average yield per hour.
  • Is decision-making possible? Yes. Earlier, the process of buying and selling property did not give much freedom to investors. They had to negotiate with third parties before striking a deal. 
  • However, NFTs change that too. Buyers will get voting powers through the process of staking. They would receive decision-making rights based on the number of virtual tokens they own. Thus, investors have more control over the future growth and development of their property. 
  • They can have their say in the addition of amenities, management of the residential community, and expansion of the properties. This gives them freedom in managing the welfare of fellow dwellers

How is an NFT for Physical Assets Marketplace highly beneficial? 

  • Highly secure – Both buyers and creators are protected by multi-layer security measures. Anti-DDoS protection, end-to-end encryption, firewalls, and two-factor authentication (2FA) safeguard them Moreover, private keys, secret passwords, and 12-18 recovery phrases will safeguard funds.
  • Low transaction processing fees – Investors can buy, sell, as well as, transfer parcels of digital land at low charges. This ensures the seamless execution of property deals without any issues. 
  • 24×7 trading operations – Round-the-clock buying and selling of properties is a key highlight of a Physical Assets NFT marketplace. Traditionally, registration offices will operate only for a certain time. As a result, buyers may not be able to execute a deal within a certain duration. However, a blockchain-powered trading platform ensures the smooth execution of real estate deals. 

What are the various Physical NFT Marketplace Development Services? 

An NFT marketplace development company will create assets for buying and selling physical assets on numerous blockchains like Binance Smart Chain (BSC), Cardano, Ethereum, EOS, Flow, Harmony, Solana, and TRON and sidechains like Polygon. 

Other services include the creation of digital tokens, integration with hardware and software wallets, organizing online marketing campaigns, conducting security checks, listing tokens on different crypto exchanges and Defi platforms, smart contract auditing, and technical support. 

Wrapping Up

Are you that entrepreneur looking for a breakthrough in the metaverse? Connect with a popular white-label solution provider for Physical Assets NFT marketplace development. 

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