'Neighborhoods of The Future' metaverse nft
to produce this unique NFT. The eventual buyer of the NFT will also acquire the ownership rights of the physical home itself, which is set to be built in Miami, Florida in Q4 2022.
The Propy NFT property sale was done on the county level. The method of selling an NFT to represent an LLC has been the only known option so far. While investors can buy and sell NFTs on a site such as Opensea, those are digital properties on the blockchain and there are not always KYC laws in place within the crypto space.
Only time will tell if this type of largely unregulated property transfer will be allowed to continue to happen. We may see different laws for different counties and states at the outset. Federal law reigns supreme in most cases, yet it could take longer to materialize depending upon political circumstances. Regulators and legislators are still trying to wrap their heads around what to do about crypto.There is also tokenized real estate.
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