It’s hard to think of an economic sphere that already isn’t or can’t be disrupted by blockchain technology — the applications are virtually endless. But what about real estate? Yes, even such a business with the gravity that real estate holds (some people buy a house once in a lifetime) is already being reimagined in revolutionary new forms, thanks to blockchain.
Real-estate transactions involve huge fraud risks, so both buyers and sellers hire lawyers, brokers, and bankers to avoid losses. Effecting these transactions on the blockchain can remove all of these intermediaries with algorithms via smart contracts. Blockchain-based platforms can perform verification of ownership, serve as an escrow account, and fulfill all necessary functions to secure the transaction. In addition to transforming the traditional real-estate market, blockchain enthusiasts and professionals are becoming increasingly interested in entering the metaverse real-estate market. The metaverse is a virtual space filled with lands and properties that offers limitless potential for transacting business across a broad spectrum of sectors, including entertainment, communication, and education — as well as real estate.
We can’t speak about blockchain in real estate without mentioning both real-estate tokenization and unlocking property in the metaverse as a brand-new arena within the real-estate industry. Let’s use the example of the KEYS platform to see how else the real-estate sphere can be reimagined via blockchain. KEYS Token is the foundation of this start-up platform, a utility token built on the Ethereum blockchain with a $100 million valuation that was launched in November 2021. It is the central currency for the upcoming KEYS Metaverse that KEYS is developing in partnership with Genius Ventures Inc. You can use KEYS Token to perform on-chain real-estate transactions, interact with the upcoming proprietary KEYS real-estate and luxury-asset exchange, use the Meta Mansions rental app, and more. KEYS holders will enjoy multiple benefits in both the physical and digital worlds, including discounts on the platform.
KEYS initial NFT launch was their wildly successful KEYCard V1, which sold out in 32 seconds on December 28, 2021. KEYCard V1 unlocks numerous perks and privileges for its holders, including access and discounts to exclusive NFTs whitelists, special real-world events, and private giveaways.
On March 18, 2022, KEYS launched and sold out Phase 1 of its second NFT collection: Meta Mansions. These luxury digital mansions designed by some of the world’s top architects are the genesis residence of the KEYS Metaverse, which is being developed by KEYS in partnership with Genius Ventures Inc. Meta Mansions Phase 1 comprises 4,444 of the 8,888 NFT mansions being built in the KEYS Metaverse. Minted as 4K high-pixel-density 2D images, the mansions will eventually be fully realized as a lush, immersive 3D VR/AR experience in the KEYS Metaverse, the first of its kind to be powered by Unreal Engine 5. KEYS is taking a device-agnostic approach in building its proprietary metaverse, making it readily accessible via mobile phones, tablets, and laptops/desktops as well as through VR headsets.
KEYS Token is now available on HitBTC. Currently, HitBTC supports KEYS/ETH and KEYS/USDT trading pairs. If you’re interested in joining the growing metaverse real-estate market, KEYS Token is your gateway to digital ownership through HitBTC.
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This article came directly from HitBTC, at https://hitbtc.com/blog/real-estate-tokenization/