NFTs Revolutionizing Real World Real Estate Market!
NFT Tech Taking over the Real Estate Market!
What is the market size of the Real Estate Sales & Brokerage industry in the US in 2021? The market size, measured by revenue, of the Real Estate Sales & Brokerage industry is $156.2bn in 2021.
The disruption of NFT Technology continues. If you are new to crypto & NFTs you might be surprised but this is nothing out of the ordinary.
Technology makes it easier to socialize & communicate. Technology allows us to purchase & receive goods at our doorstep the next day. It allows us to fly from one place to another.
You get the point.
The Recent Hype on NBA Top Shots (Large scale NFT Project launched with the NBA) and Crypto has ultimately sped up the adoption of NFT technology. We have recently seen The Weeknd, The Golden State Warriors & even Tom Brady release their own NFT projects.
This same breakthrough is now happening in the real estate market.
It all started in 2017 when Micheal Arrington (@arrington) purchased a property in Crypto Currency. (Ethereum)
Mr. Arrington is no stranger to technology or innovation. He is the Founder of Techcrunch, one of the Largest Technology Media Platforms of the world. He is currently launching an NFT Real Estate company that is planning to list properties as an NFTs. What does this mean?
Just like you see collectibles & art listed on opensea.io, you potentially could see this for the real estate market. This is just one example of the many opportunities available for disruption. The most creative and effective companies will win and those who do not take action will lose. May the best man win. One problem that still persists is the current state of Ethereum.
Ethereum is currently still extremely difficult to use. There are transaction fees known as “Gas” which can range anywhere from $30 USD up to north of $300.
The Fees depend on the price of the token. Yet even with these troubles Ethereums Market Cap still sits at a measly $441 Trillion USD with each token ranging around $3,800 USD.
Could this technology replace real estate agents?
Will we continue to use Ethereum as the network to verify and validate transactions?
Will there be a ton of legal battles and regulation in the process?
Nobody Knows.
What I do know is that humans ultimately will move towards the easiest and most efficient ways of doing things. We drive cars instead of riding horses. We use self checkout instead of hiring cashiers. We talk on cell phones instead of sending letters.
The generations to come have been conditioned to spend more than 4 hours a day looking at our phones. We keep in touch with our peers from school or work via social networks like TikTok & Instagram. (left out Facebook.. sorry boomers)
Real Estate, Art, Collectibles, Music, Media, Finance.. The industry truly does not matter.
NFTs are coming for you.
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