Labs Group, a blockchain powered real estate company, has teamed up with Enjin to bring real estate to blockchain in the form of non-fungible tokens (NFT's). Enjin's platform will be used to mint and issue the tokens. All tokens processed will pass through the Ethereum blockchain allowing them to avoid settlement periods. I'm very excited for this as I hold a nice bag of ENJ. This is because I like what they are trying to do with the gaming industry, but this makes me feel even more bullish on the project. With the global real estate market valued at $228 trillion there is plenty to be tapped into.
The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It's only a matter of time before real estate is tokenized. Together with Labs Group, we can be among the first movers to disrupt one of the world's oldest markets. -Maxim Blagov, Enjin's CEO
Not everyone will be able to mint tokens though. Only approved property owners, real estate groups, and developers will be able to mint tokens. Hotel rooms, apartment units, and even entire building could be represented in the form of a NFT. These can then be traded by the holders on Labs Security Exchange. Fractional real estate assets can be bought starting at $100.
This could be a great way to start investing in property ownership! I will probably buy a few NFT's as I've been wanting to invest in properties, but haven't had the capital to put up. I know there are projects like Fundrise, but I'd rather not have to lock my money up for 4 years.
What are your thoughts on this collaboration?
