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It’s hard to find a segment that blockchain has not impacted, given its disruption of financial services and widespread application. More buyers and sellers seem to transact with digital currencies. Thus, real estate has also embraced cryptocurrency rapidly.
Imagine the possibility of buying fractions of a multi-million-dollar penthouse in London, Paris, or Dubai from anywhere in the world. The entire process could start with a minimum of $100, take less than 10 minutes, be completely decentralized, and not require any paperwork.
You can stop imagining because Metropoly’s real estate NFT marketplace is already here. With Metropoly’s Real Estate NFT marketplace, anyone, wherever they live, can participate in the real estate market. Here is how Metro is changing the real estate game.
It is Easier to Transact Real Estate with METRO
To gain property, investors have to pay a significant amount upfront. Another option is to pool investors’ money to gain properties worth more. But Metropoly makes it easier for you to invest fractionally in income-generating properties than you would with conventional investing.
Crypto transactions are fast and easy because they are almost instant, without intermediaries. Investing in the blockchain would be as simple as accessing a trading app and buying and selling tokens as desired. Fractional ownership would eliminate the need to manage maintenance and lease themselves.
Besides transaction fees associated with cryptocurrencies are low, which can reduce the overall cost of real estate deals. By making real estate more accessible to investors and buyers, the industry grows and evolves.
METRO Makes Real Estate Transactions Efficient
Purchasing real estate can take weeks, months, or even years. Cryptocurrencies and blockchains, however, make transactions more efficient and faster. For example, transferring METRO between virtual wallets can be accomplished in less than 10 minutes.
Moreover, the funds are guaranteed once the transfer is successful because the network verifies them. Besides the efficiency of transferring cryptos, it also eliminates the fees associated with bank loans saving investors money because these fees can add up quickly.
Besides, cryptocurrencies are usable anywhere, provided the respective country’s government does not prohibit their use. If you travel internationally, you’ll need to convert US dollars into another currency. With inconvenient exchange rates or regulations, cryptos can be a valuable asset for foreign investors.
Completely Secure System
As a decentralized technology, blockchain commands trust and security. Blockchains make data transparent and immutable since they are accessible to everyone on the network. Looking at the housing bubble crash in 2008, one can see how greed and a lack of transparency can lead to catastrophic outcomes.
The decentralized exchange system is built on trust. As buyers and sellers can verify information, they feel more confident about conducting business. The number of fraud attempts would also decrease.
Several states, including Vermont and Arizona, are introducing legislation to make smart contracts admissible as records. Thus, smart contracts would have more enforceability than just their technology.
No Banks, Paperwork, or Hidden fees, Only Easy Property Investing
A decentralized Real Estate NFT marketplace backed by real-world properties is Metropoly’s vision for worldwide access to the real estate market regardless of country of origin or credit score.
NFTs are unique digital identifiers that cannot be copied, subdivided, or substituted and are stored in a blockchain, certifying authenticity and ownership. The Metropoly project, which creates real estate NFTs (RENs) on the blockchain, makes perfect sense.
Metropoly Marketplace allows users to buy, sell, and trade RENs online. Metropoly Marketplace NFTs are fractionalized and backed by income-generating properties in the real world. The NFT is the certificate securing your monthly rental income and represents your share of the real-world property.
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