NEW YORK, NY / ACCESSWIRE / July 6, 2022 / The world of blockchain is in dire need for more stable assets after the alarming recent events in Cryptoland, including the $60 billion meltdown of stablecoin Terra and an ever-inflating digital NFT bubble.
Crypto needs safer stores of value and a hedge against inflation. Through decades of market ups and downs, real estate has consistently proven itself as a stable and appreciating asset class that offers lower volatility than crypto and a low correlation to broader market trends.
Leveraging these attributes, LiquidEarth has launched as the first platform to create an NFT representing ownership of Real Estate. It’s the first compliant, legal Web3 disruption of the $34 trillion real estate industry. Their ultimate goal is to bring over $100 billion in value into Web3 and crypto through real estate NFTs.
Its new DeFi lending product, which is now accepting applications, is the first platform to efficiently allow non-recourse borrowing to purchase real estate NFTs. Users can borrow against the NFT, or against their crypto, and buy a home or apartment. Users will also be able to stake USDC, and DAI for lending in the platform and receive yield in FYA token (the platform’s native utility token).
Real estate is the world’s largest asset class, with a global value of approximately $325 trillion. Typically exposure to real estate is relatively illiquid, and the transfer of property ownership is a time-consuming process requiring extensive paperwork. LiquidEarth NFTs, on the other hand, can be traded in minutes between sellers and buyers. It even offers a “Buy Now” feature to allow instant trading of a real estate NFT. Property buyers who join the NFT minting program will receive FYA tokens bonuses. Members will be able to use their FYA Tokens to instantly purchase home and travel related products.
Platform users will save time and money on both sides of a real estate transaction, up to 6% of the value of the property, which translates to $60,000 on a $1M home. Real estate agents can earn fees for facilitating NFT’ing, trading and staking, and will be able to get paid even if the property doesn’t end up selling.
Scams such as title fraud are prevalent in the real estate industry, but LiquidEarth’s real estate NFTs offer the transparency and security of the blockchain to ensure safe transactions. In the event of a loss, theft, or fraud, LiquidEarth can deploy a mechanism to issue a new NFT to its proper owner. It also freezes transfer of ownership for any NFT that’s been reported stolen.
Phase 2 of the rollout will incorporate more advanced DeFi features like liquid staking, where holders can directly stake their NFTs to lend out their value and receive rewards in the form of FYA tokens. Eventually, users will even be able to stake NFTs with a “first mortgage” (i.e., existing debt), based on the net value. NFTs staked within the lending platform can still be sold, providing maximum flexibility for holders.
NFTs arrived on the scene predominantly as a speculative asset, but as dubious projects fade away and bubbles deflate, the utility of the technology underpinning NFTs will stand the test of time. NFTs already have use cases in the art, finance, and entertainment industries, but their integration with real estate will eventually be their single biggest real-world use case.
About Liquid Earth
LiquidEarth is the first real estate NFT marketplace and lending platform, allowing users to easily buy, sell, and leverage real estate assets as an NFT, which can then be staked on the platform for DeFi rewards. Its goal is to bring $100 billion of value into the crypto and Web3 markets through real estate NFTs.
SOURCE: Liquid Earth
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