Using NFTs in Real Estate
In the instances we've seen where real estate was purportedly 'tokenized,' Greenacre was placed into a title-holding legal vehicle, and somebody bo...
In the instances we've seen where real estate was purportedly 'tokenized,' Greenacre was placed into a title-holding legal vehicle, and somebody bought the vehicle as a way to indirectly buy Greenacre. The 'vehicle' is often a limited liability company (LLC), and the cargo in the bed is the real estate. So, in those transactions, the NFT is meant to represent ownership of the LLC, not Greenacre. So what's wrong with that? Buying and selling interests in LLCs (and similar legal vehicles) that hold title to physical real estate has been around in commercial real estate for years.