According to Propy, a California-based real estate technology company, a four-bedroom mansion in Gulfport, Florida, will be tokenized and sold for $650,000 using non-fungible token (NFT) technology. In addition to the Gulfport home, another blockchain initiative has been started with the goal of purchasing The One Bel Air, a 105,000-square-foot megamansion through the formation of a decentralised autonomous organisation (DAO).
According to the homeowner, Leslie Alessandra, a property in Gulfport will be auctioned as an NFT on February 8, 2022. According to the present owner, it will be the first real-estate auction in the United States to auction a home in NFT form.
Alessandra is working with Propy, a Palo Alto-based company that used tokenization to sell Michael Arrington’s Kiev apartment. The apartment of Techcrunch founder Michael Arrington was initially sold in 2017 in one of the first blockchain real estate transactions.
“I’m really excited to have purchased the first real-estate NFT from Michael Arrington using Propy,” the current homeowner who purchased Arrington’s apartment at the time told the press.
