NFT-backed property is sold in Florida for 210 ETH($653K)

[{"selector":"#anim-07521bed-ea07-45ae-ad4c-c2d15bea279a","keyframes":{"transform":["translate3d(-162.33769%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":870,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-2640ca3a-a0be-4de7-97f2-1490863d6cbf","keyframes":[{"transform":"rotateZ(-180deg)"},{"transform":"rotateZ(0deg)"}],"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-b4f3d261-345a-433c-97b8-22223c8c8329","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b6d52aff-bb30-48f4-8724-b301bb949e34","keyframes":{"transform":["translate3d(-94.06593%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Feb 12, 2022 Image Source: Luno discover

[{"selector":"#anim-eec04ef0-ffec-4b62-a012-597e54119c64","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dfbf60d9-6317-4116-9c3a-bbf319dd5826","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b99b2fd-46d5-4169-bb85-20815e7dd177 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(54.76973692174989%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] T he first NFT-backed property of the real estate startup Propy has sold a 2,164-square-foot house in Gulfport, Florida, fetched $653,000 (210 ETH), with the winning bidder got a NFT as proof of ownership. Image Source: (Breno Assis/Unsplash)

[{"selector":"#anim-821f9c14-34a2-4fa5-a1bc-80120fdac499","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59631a72-fd1b-4467-bc24-dd30e59aca66","keyframes":{"transform":["translate3d(-93.58408%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3050d3a6-9f95-439d-abef-ecc0179b5eba [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.44531239347884%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] NFT logistic complications– The token is associated to the ownership of an LLC that owns the physical asset, rather than the actual house contract. Photo Credit: Passakorn Prothien

[{"selector":"#anim-8b141f3c-0ad2-49a9-8330-0f64ac29cb13","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7929e79f-8fbe-475a-8017-9b6f71c09021","keyframes":{"transform":["translate3d(-94.0133%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f59eac58-4fd8-46a0-a0c6-ee07daae45ee [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] NFT logistic complications– However, it reflects innovative solutions in a sector that contributes to $16 billion, or roughly 1%, of the crypto market’s $2 trillion market capitalisation. Photo Source: Binance

[{"selector":"#anim-a7b6a37a-22d2-45a1-a5d5-dce61e90d75a","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f51d735a-356d-43d2-bb9d-e678b0c95fae","keyframes":{"transform":["translate3d(-99.75787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-41551f38-285b-4533-bd6f-ea515932c122 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-60.82442446522612%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] According to Propy, NFT can be used as collateral for crypto borrowers and investors. A sale happens when the market for NFT lending services begins to find its stride. Photo source: Propy

[{"selector":"#anim-d3beec1f-1213-4edf-b505-2d403464de8f","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a535768d-a1a9-4d24-9681-cac533a2d051","keyframes":{"transform":["translate3d(-97.90209%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0742c754-5889-4912-9d37-13466c2dc210 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(10.996240777722349%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “We’ve gotten hundreds and hundreds of requests from sellers to sell their homes all over the U.S. The next big sale will be in Tampa again, it’s a condo that is worth between $200,000 to $300,000.” Propy CEO Natalia Karayaneva. Photo source: Medium

[{"selector":"#anim-99998980-e61c-4ccd-88af-30a98db01c42","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-05269843-748d-42af-a743-e477d0e4adee","keyframes":{"transform":["translate3d(-97.63034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8b9773fb-a7f9-458f-87b4-416b61a1aa55 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] When the company sells-off TechCrunch CEO Michael Arrington’s Ukraine apartment, Propy’s first-ever NFT-backed property was highlighted in May. Photo source: Techstartups

[{"selector":"#anim-7a0dfa3e-5c85-4702-b2b2-444a00bc61b2","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3481f617-75bd-4be4-8d1a-856b12b1ef7c","keyframes":{"transform":["translate3d(-97.63034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f0a774e-fe05-4613-8067-79b6c0c01fe0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-16.576538762977947%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] While the Florida sale was all the rage, the auction resulted in a bidding war. Over 7,000 people signed up to bid on the home, which only accepted bids in ETH. Image source: aiRight

[{"selector":"#anim-3710c7ec-0a92-4d08-a4e8-c418929db38a","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-27e4fd36-a5e0-4d72-a1d3-f5e80c3d4867","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Karayaneva stated that Propy has 3 upcoming partnerships with lending protocols, one being with Helio. Photo source: Propy

[{"selector":"#anim-00ca78c8-3c3d-4e40-b453-678d8b513cd3","keyframes":{"transform":["translate3d(281.46069%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":870,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-5bccef14-a4ae-42ec-854f-e6e747994323","keyframes":[{"transform":"rotateZ(180deg)"},{"transform":"rotateZ(0deg)"}],"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-bd3d5a39-3dbd-4bcd-bd93-45639c788f34 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.105427357601002e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to Karayaneva, Thursday sale only accepted bids in ETH. Propy also plans on offering decentralized finance ( DeFi ) mortgages to its users in the coming months. More crypto stories...