Propy, a real estate tech firm, will sell a new property in Orlando, Florida, via an NFT transaction. The property, a three-bedroom townhouse 10 minutes away from Disney World, is listed for a starting price of 430,000 USDC and marketed as both an investment property and new family home. The sale, set for June 29, 2022, is the first time the transaction will include a small royalty fee payment to the current owner and seller’s agent on all future NFT sales.
Propy’s blockchain-enabled platform allows real estate property ownership to be represented as a non-fungible token (NFT) or a data-based security recorded as unique in the blockchain. This virtual transaction model using cryptocurrency is a break from traditional real estate sale processes.
The sale will take place on Propy’s NFT Marketplace using Ethereum (ETH) token, protected with bank-level security. The record purchase will be placed on the immutable blockchain and provides access to the legal documents.
This sale will mark Propy’s third successful sale of an NFT property, after the May 2021 sale of an apartment in Kiev, Ukraine, and the April 2022 sale of a condo in Tampa, Florida.
For more information, visit https://propy.com/browse/disney-bound-nft/.