The world's first real estate non-fungible token (NFT) is now up for sale.
Let's be clear here, this is not a gaming token for digital property but an NFT for an actual physical property you can - residency rules permitting - live in.
While blockchain real estate sales have taken place before, this is the first time a residential property has been auctioned as a unique NFT collectible.
The studio apartment in Kiev is being sold by its current owner, TechCrunch founder Michael Arrington through the Ethereum-based project Propy.
According to the auction webpage, "This studio apartment was the first residential property sold using a smart contract on the blockchain back in 2017, so it made sense for it to be the first residential property sold as an NFT."
The Details
Payment can only be made in Ethereum (ETH) and those wishing to bid will need to register and connect their wallet through Metamask.
Propy state that the fortunate highest bidder will win:
- Access to apartment ownership transferred paperwork
- Apartment digital image
- Unique art by street artist Chizz (Art Piece on the wall and a printed cyberpunk picture with licensed rights are also included in the deal)
The initial asking price started at just 7.5 ETH but at the time of publishing this article, the leading bid stands at 14.79 ETH (approx: $36,900 USD).
For those wanting more background information to the sale, a recent interview on YouTube's Thinking Crypto channel with Propy CEO Natalia Karayaneva and Michael Arrington maybe worth a look.
If you wish to bid, head over to: https://seen.haus/drops/first-real-estate-nft
