The real estate company Homebase successfully signed NFT on the Solana network with the help of real estate investment, allowing anyone to invest in houses in the form of tokens. The first homes for sale on the platform are three-bedroom designs in McAllen, Texas, each worth $100 in tokens. 2,468 tokens were sold for a total value of $246,800.
Investors can allocate funds to single-family homes to rent out through the Homebase program. Each house is owned by Homebase NFT after investment. Investors will receive monthly rent in USDC according to the percentage specified in the contract.
The company says the new idea is to acquire and create wealth through a real estate network, presented in the form of NFTs, which are securities registered with the SEC.
Here’s how you can invest in real estate now: #NFT exist #solana today #home base @azcoinnews https://t.co/svrHvhBMFa
— Kyptos (@azcoinnews) March 1, 2023
Homebase co-founder Alex Kim said:
“We decided to use the most popular legal method in our home offer, so we had stock registered from day one.”
This isn’t the first time real estate has been listed for sale on the blockchain. Last year, Vesta Equity began selling its shares on Algorand before it failed because the platform didn’t show any properties that could attract investment.
However, Roofstock onChain, a popular real estate NFT marketplace, has gained prominence in recent months.
The Homebase initiative is a step towards the democratization of real estate investing, making it more accessible to investors through blockchain technology. As the market expands and more investors enter, we can expect further innovations at the intersection of real estate and blockchain technology.
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according to Kyptos
