First real estate NFT property sold at $175,000 in South Carolina

2022/10/20 15:55

Digital real estate platform Roofstock has announced facilitating the first purchase of a house by leveraging a non-fungible token (NFT).
The transaction that involved a property valued at $175,000 in Columbia, South Carolina was the first USDC Homes lending pool sale powered by onchain financing, RoofStock said in a press release on October 18.
Under the plan, the sale was enabled by Roofstock onChain (ROC), which serves as RoofStock’s Web3 subsidiary that facilitates instant transactions for the single-family rental houses. The house was listed on RoofStock’s NFT marketplace, built on Origin Protocol.
“Cutting out intermediary fees is one of the pillars of Web3, and this is just the beginning. As more and more real estate is brought on-chain through NFTs, we will see more efficient and liquid markets for these traditionally illiquid assets,” said Matthew Liu, co-founder of Origin Protocol.

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