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Roofstock Tokenizes Its Atlanta Home, The NFT Home Nets Over $200K In Just 3 Minutes

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Roofstock NFT Home
Roofstock NFT Home

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In recent weeks, the flagship crypto “Bitcoin (BTC)” has retested new all-highs, surging above the $28,000 level this week. The recent spike has revived many sectors, including the digital real estate sector, which faded following the recently ended bear market.

Roofstock Teams RealT To Tokenize Its Atlanta Home

In a March 24 blog post, Roofstock, the leading online marketplace for investors in the single-family rental home sector, confirmed selling its Atlanta home as a non-fungible token for more than $200,000 in less than three minutes.

The fintech and single family-focused sales company Roofstock has sold its Georgia home in partnership with RealT, the tech startup focused on tokenizing real estate and enabling fractional investment. RealT platform aims to simplify global access to U.S. real estate investment.

Roofstock has integrated OpenSea, one of the leading cross-chain marketplaces for NFTs, to facilitate the transaction. Under the new partnership, RealT intends to provide blockchain exposure to investors in other countries.

Atlanta NFT Home Nets $200K In Just 3 Mins

During the auction period, more than 670 unique token holders made 722 orders. The transaction took two minutes and forty-six seconds, with a tokenized house selling for $298 worth of Ether. Roofstock tokenized home attracted a sales volume of $214,884.

The Atlanta-area home features two bedrooms, 2.5 bathrooms, and a total of 1,524 square feet. The tokenized property can be bought and sold on various NFT marketplaces, resulting in quick sale and settlement.

The NFT home, which is now listed on popular non-fungible token marketplaces, including OpenSea, features a KYC (know your customer) flag to enhance transparency and security. The proceeds of the NFT home raised this week will divide ownership of the new property.

Following the recent rise in regulatory pressure in the United States, Roofstock and RealT have agreed to set measures to ensure they comply with the relevant authorities as the outlook for digital asset oversight remains largely mixed.

In related developments, Metropoly is another real estate marketplace that continues attracting mainstream adoption. The NFT project has already raised more than $1 million from its token presale. The highly anticipated marketplace is slated to launch on May 1, 2023.

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