NFTs will Improve the Real Estate Industry

With a market value of over $40 billion, the NFT industry is among the fastest-growing sectors in the world. The industry started with digital artists selling standalone pieces of their art, and today it has grown into an industry swarming with thousands of projects that have the potential to transform the world’s major industries. In a few short years, the NFT market entered a neck-to-neck competition with the global art industry and is on its way to disrupting the gaming, fashion, global supply chain, and metaverse sectors. Even in the realm of finance, financial NFTs are finding creative ways to solve some of the most pressing problems of digital assets. NFTs are now entering and disrupting the $34 trillion global real estate market. With the ability to represent unique ownership and allow immediate transfers, NFTs in real estate are transforming real estate transactions into an open market for worldwide and instantaneous transactions. In this regard, LiquidEarth, is creating the first-of-its-kind real-estate NFT marketplace and peer-to-peer lending platform. How NFTs Transform Real-Estate NFTs are the by-products of blockchain technology, similar to cryptocurrencies, but what makes them unique is their non-fungibility. On Ethereum, NFTs follow the ERC-721 standard and are minted through smart contracts. These smart contracts assign a unique hash code to each NFT that acts as an identifier and cannot be replicated. NFTs can...