Ellen Britt for CNT #NFT
A brand new economy powered by the Metaverse is rapidly emerging. And as virtual real estate becomes a thing, people who want to own homes and buy virtual land are turning to a new type of NFT financial instrument to finance their purchases.
A New Financial Industry Is Born
One such company is TerraZero Technologies, offering its first-ever Metaverse Mortage via the Decentraland platform.
Clients explore listing right on TerraZero’s platform, including land, location, and prefab build options. Interested parties may also offer other NFT assets as leverage to get a mortgage and can interact with a TerraZero specialist to wrap up the deal.
Sign On The Dotted Line!
Just like a real-world mortgage, the individual signs on the dotted line, and the virtual land NFT is held by TerraZeor as the registered owner till the loan is paid off.
Congratulations! You Are Now A Virtual Homeowner
Once the debt is discharged, TerraZero hands over the deployment rights to the owners so they can then build a house on their land, run a storefront, host events, and more.
The future of real estate is now!