Fractal Property announced it’s launching a new marketplace dedicated to NFTs (or non-fungible tokens) for real-world real estate. The platform aims to grow the worldwide real estate market and improve its efficiency & accessibility using blockchain technology to complement, not replace, existing approaches.
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Fractal Property acts as a home to the growing number of NFTs backed by real-world property and an incubator for creative solutions. Anyone buying, renting or selling real estate, including agents and brokers, can create NFTs for their properties. For buyers, the marketplace allows them to find interesting properties and crowdfund their own purchases. For property owners or renters, the marketplace opens up new ways to sell rights to their property. For agents and brokers, making their current listings NFTs opens up their reach worldwide.
Fractal is working to make the process as easy as listing on any real estate site. Users simply “mint” or create NFTs to represent a property through Fractal’s website (fractalprop.com) or another minting site. The NFT then becomes a listing on Fractal’s marketplace and publicly on a blockchain.
As marketplaces for NFTs expand and emerge, listings can automatically show up on new platforms, expanding reach. The NFT only needs to be created once, and can last forever, eliminating the hassle of creating a new listing for the same property every time it’s resold. Each individual property can be represented as a single NFT or fractionalized into several NFTs to lower the cost. Once represented as an NFT, the property can be more easily bought, sold, and even resold.
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