It’s no secret that the real estate industry is ripe for disruption. The traditional model of buying, selling, and managing property is inefficient, opaque, and often unfair. But with the rise of blockchain technology, a new wave of startups is emerging that are looking to use the distributed ledger to create a more transparent, efficient, and secure real estate ecosystem.
In this article, we’ll take a look at five of the most innovative real estate projects that are built on the blockchain. From platforms that are looking to revolutionize the way we buy and sell property, to those that are creating new virtual worlds for us to explore, these projects are paving the way for a new era in the real state.
Bonfire is a real estate investment protocol on the Polygon network that is divided into smaller parts. It’s a marketplace where average investors can get involved with the new era of real estate investing and ownership by property tokenization. Income-producing real estate properties are divided into denominations (or tokens) on the platform, allowing investors to acquire and sell them.
Unlike many other real estate protocols on the metaverse, Bonfire runs on a DAO (Decentralized Autonomous Organization) model. Bonfire validates properties in the same way that Airbnb validates a host: it verifies there isn’t fraud and that property taxes have been paid. The asset verification procedure and declaration that the asset is ready to be sold will result in the property being divided into tokens and listed on the Bonfire platform.
Investors can then acquire these tokens through fiat or cryptocurrency, and a DAO LLC is established when all of the tokens have been purchased on the marketplace. DAO members can propose and vote on plans right away, and they can effectively decide how to manage their funds.
The ultimate goal of Bonfire is to empower common people to invest in real estate without needing an expert to show them around the block.
Real Estate Investment Club
Real Estate Investment Club is a group of digital, groundbreaking 1:1 and generative NFTs that are based on the ERC-721 blockchain.
The NFTs are your avatars in the Real Estate Investment Club metaverse, which is also known as MetaCity. This metaverse serves as a virtual world where real estate and finance professionals can meet to share ideas, start new businesses, and socialize. Anybody interested in real estate or finance will be able to discover a location for themself in the metaverse.
The REIC MetaHQ, a virtual building designed by a team of developers, designers, and architects at the center of REIC – MetaCity, is the headquarters for Real Estate Investment Club members to socialize and hang out. It is used for metaverse meetings, educational services, and consultancy, as well as investment opportunities such as drop-ins from industry experts and specialists.
Decentraland is a virtual world where users can buy, sell, or lease land. Its entire world is built on the Ethereum blockchain, and each piece of land is an ERC-721 non-fungible token (NFT). Landowners can develop their plots of land however they see fit, and there are already a number of businesses and attractions operating in Decentraland, including casinos, art galleries, and live music venues.
Users can explore Decentraland through a web browser or by downloading the Decentraland web app. The web app provides a more immersive experience, as it allows users to navigate the world in first-person view and interact with other users and NFTs.
Sandbox is a virtual world where players can create, experiment, and play with game-changing assets called “Voxels”. These Voxels are blockchain-based NFTs that can be used to create in-game experiences and interactions. Players can use them to create their own games, worlds, and experiences or to experiment with game mechanics and formulas.
The Sandbox is a community-driven platform where developers can profit from Voxels and gaming experiences on the blockchain. Metaverse Properties provides land in premium regions of Sandbox fo individuals, businesses, and organizations across various sizes and locations. Below you’ll find our land in Sandbox that ranges from small to large and far out.
The Voxels can be bought, sold, or leased on the Sandbox marketplace, and they can also be used to create experiences that are rented out to other players. The possibilities are endless, and Sandbox provides a playground for creators to explore the power of NFTs.
Bloktopia is a virtual skyscraper that aims to become a Web3 content and experience center. It is made up of 21 levels in homage to the 21 million Bitcoin, and each Bloktopia coin owner is known as a Bloktopian.
Bloktopians can earn money on the platform by purchasing real estate, advertising, engaging in games, building networks, and doing a variety of other activities. Virtual real estate in Bloktopia serves as a hangout place for everyone to unwind, chat with friends, have fun, and compete to obtain more rewards. You can also participate in competitions from time to time to win exciting rewards.
The Future Of Real Estate Is Blockchain
The future of real estate in the blockchain is very promising. With the help of blockchain, everyone will be able to buy, sell, or lease land and in the near future, we will see a lot more businesses and attractions operating on the blockchain. This will help to reduce costs and provide trust in the future of property ownership. So, if you are planning to invest in the real estate industry, then keep an eye on these 5 innovative projects.