Real estate blockchain company Propy has announced that its latest real-estate-backed NFT sale in the United States will be a condo in Tampa, Florida on April 12.
According to a release from the company, Propy’s proprietary technological and legal framework enables real estate property ownership to be represented as a non-fungible token (NFT). The record of the purchase is placed on the blockchain and provides access to the legal documents.
“At Propy we have developed all the necessary smart contracts and a compatible legal framework that allows tokenizing any real estate property in the United States,” says Natalia Karayaneva, CEO of Propy. “NFT sales reached $4 billion in December 2021 and real-world assets will soon represent a significant portion of that market”.
This upcoming sale will take place on Propy’s NFT Marketplace using the USDC token. USDC is considered a “stablecoin” and is “pegged” to the U.S. Dollar, so it doesn’t have the volatility of other cryptocurrencies, Propy stated. The starting price will be 185,000 USDC ($185,000).
Those interested in the purchase can sign up for the waitlist here.