Jeff Pratt breaks down Okada & Company listing an office & retail building as an NFT.
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The future of real estate has arrived.
That’s what Okada & Company believes, at the very least. The real estate agency listed One Eleven|109-111 West 24th Street, New York, NY on OpenSea for 15,000 ETH (approximately $27,825,600.00).
Before the purchase can be finalized, multiple steps must be taken to verify the user’s wallet.
The sale of the office & retail building will conclude on July 1st. This sale does not technically guarantee the completion of the transaction, but the rest of the deal being worked out is simply a formality.
Yes. You get the property after buying the NFT. Yes you can live in the building. Yes you can rent it out. It’s not just an expensive jpeg.
While this is Okada’s largest NFT business venture, it is certainly not his first. The firm is also connected to the world’s first NFT restaurant, which began offering membership collectibles in March.
Will this be the beginning of a real estate revolution? Only time, will tell, so stay tuned for updates as the rights to this building are eventually sold.
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