NFT Luxury Homes Are Trending

NFT Luxury Homes Are Trending

Ellen Britt for CNT #NFT

If you are a real estate agent, or are friends with one, or if you are simply in the market for a luxury real estate purchase, you should care about the latest trend…NFT homes. We have already brought you news of luxury mansions being built that are backed by NFTs, so let’s get into the reasons NFT homes are such a hot topic.

First of all, just what is a luxury home? Other than the immediate response of “one that costs a lot of money” let’s go a bit deeper. A luxury home is a one of a kind, high-value asset. An asset, in turn represents the value of ownership that can be turned into cash. Luxury homes are also a symbol, both of prestige and of wealth, plus, they can be lucrative investments. 

Characteristics Of A Luxury Home

So, here are the characteristics of a luxury home in a nutshell: high-value, unique, an asset, a prestigious symbol and a potential lucrative investment. Sounds a lot like an NFT, right?

If you are nodding your head “yes” you would be correct, so it’s no wonder the two spaces are starting to intermingle.

Digital Twins

Besides simply selling homes as NFTs, which is already starting to happen, some developers are now offering the buyers the “digital twins” of those same homes, located in the metaverse. 

More and more of your buyers are likely to become increasingly comfortable spending time (and money!) in virtual worlds, so the concept of a virtual home will feel natural to them.

NFT art and collectibles are already hot properties, so having a virtual home in which to display them is the next logical step.

Extra Appeal

As people get ready to purchase a new home, especially if they are already digitally very comfortable, the idea of also getting their home’s virtual twin in the form of an NFT will hold extra appeal. 

The accelerating rate of progress in metaverse technologies should not be underestimated, and real estate agents should keep a close eye on this space, or risk being left behind!

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By Ellen Britt

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