As one of the industries slow at adopting technological innovations, real estate has always been challenging to access as an asset class for most people. While you might think purchasing a plot of land about 60 miles from the city center could be easier, it actually takes longer than you think. With blockchain technology’s arrival, real estate was one of the industries that could take full advantage of it in various ways.
With the increase in the tech-savvy population, the option of virtual real estate came into existence, and it was the first perspective for Real estate NFT marketplace ventures. It expanded into the real world as well, making these assets accessible to anyone. We will see the top real estate NFT marketplaces today and how you can tap into this new-age industrial perspective.
Top 3 Real Estate NFT Marketplace Platforms in 2023
After intricate research, we have found the following ventures as the top 3 real estate marketplace platforms:
- Blockee — An NFT marketplace for virtual real estate.
- Propy — An NFT marketplace for real-world properties.
- RealNFT — An NFT trading platform for buying and renting real-world properties.
We will look at each of them in detail in the following sections.
Blockee is a real estate NFT marketplace enabling people to sell and buy virtual real estate assets on the Ethereum network. Currently, the platform has assets listed for sale from metaverses like Decentraland, Otherside, The Sandbox, Somnium Space, and CryptoVoxels. It is one of the platforms that rose to ride on the NFT boom, and so it did due to its unique take on the Web3 space.
Propy is a US-based real estate NFT marketplace allowing people to trade real-world estate assets such as houses and plots. The platform was conceived by a group of experienced professionals in the real estate industry who saw the need to fasten asset purchases. Propy uses smart contracts to the fullest to ensure all transactions occur between peers, including documentation. Propy even provides title and escrow services based on smart contracts, becoming the world’s first in the industry to do so.
RealNFT is one of the NFT real estate marketplaces that offer more than just trading real estate assets. The platform aims to cater to property owners to buy, sell, and rent estate assets for cryptocurrencies. RealNFT’s preferred tender for transactions is USDC, a popular stablecoin pegged to the US Dollar. The platform also has a mobile application, “Rethestate,” available for iOS and Android, making real estate transactions smooth and more accessible.
Benefits of Having a Real Estate NFT Marketplace
A Real estate NFT marketplace can provide several significant benefits for both buyers and sellers in the real estate industry. Here are some of the key advantages:
- Increased Liquidity: Real estate NFT marketplaces can provide increased liquidity for real estate assets, making it easier for buyers and sellers to transact. This is because NFTs can be easily bought, sold, and traded on blockchain platforms without intermediaries or the traditional real estate sales process.
- Fractional Ownership: NFTs can enable fractional ownership of real estate assets, allowing investors to own a portion of a property rather than having to buy the entire asset. This can make real estate investment more accessible to a wider range of investors, including those with smaller budgets.
- Transparency: Blockchain technology provides a high level of transparency and security for transactions, making it easier for buyers and sellers to verify ownership and transfer property rights. This can reduce fraud and provide greater confidence in the buying and selling process.
- Global Access: Real estate NFT marketplaces can provide global access to real estate assets, allowing buyers and sellers to transact from anywhere in the world. This can increase the pool of potential buyers and sellers, making it easier to find the right match for a property.
- Reduced Costs: NFT marketplaces can reduce transaction costs associated with real estate sales, such as agent and legal fees. This can make real estate investment more affordable for buyers and provide greater returns for sellers.
Why Work with Professionals for Real Estate NFT Marketplace Development?
While real estate NFT marketplace development is a lucrative business opportunity in 2023, building such a platform is not for people not very experienced with technology. Several experienced firms provide exclusive real estate NFT marketplace development services. The below points detail the need for professional developers:
- Technical Expertise: Professionals have a deep understanding of blockchain technology and can ensure that the NFT marketplace is built with the proper infrastructure and features to guarantee its stability and security.
- Customization: Working with professionals allows you to create a customized NFT marketplace that meets your specific business needs and requirements. They can also provide valuable insights into the latest trends and technologies in the real estate and blockchain industries.
- Legal Compliance: Real estate NFT marketplaces are subject to various legal and regulatory requirements, and professionals can help ensure the platform complies with relevant laws and regulations.
- Integration: A real estate NFT marketplace may require integration with various third-party services and platforms, such as payment gateways and identity verification services. Professionals can help ensure that these integrations are seamless and secure.
- Ongoing Support: Developing and launching a real estate NFT marketplace is just the beginning. Ongoing support and maintenance are crucial to ensure the platform’s continued success, and professionals can provide this support and ensure that any issues are resolved quickly and efficiently.
Hence, we have seen what today’s NFT real estate market is like by viewing the top platforms. Yet, the level of competition in the space is lesser than you might expect for some reason, and you can make the most of it! You only need a perfect plan that satisfies current development standards, regulatory requirements, and business needs. The launching process becomes easy, as you can find the ideal real estate NFT marketplace developer team to fulfill your Web3 venture dreams.
Start Right Now to YIEDL Profits with a Real Estate NFT Marketplace Tomorrow!