What's the potential for tokenized property? A new report from Moore Global suggests that even if it's slow to catch on, as little as 0.5% of the real estate market converted into digital tokens could be worth as much as $1.4 trillion.
That's huge!
Moore is a global accounting, audit and advisory network of 30000 people across more than 260 independent firms and 110 countries.
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If you want to see what tokenization of real estate can do, all you have to do is look at the Splinterland land plots that have now 30x'd in the last 2 months....and I have a feeling those are just getting started. It would not shock me in the least to see plots going for over $10,000 once they are implemented in the game and people are able to start developing them. You have to remember that a lot of people in crypto have no concept of the value of a dollar. If we're in the midst of another giant bull run, $10k will be pennies to some people. It's going to get crazy...
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I was thinking about picking a plot up, but thought it wouldn't be enough with some people owning dpzens or more.
The one thing this has taught me is GET IN EARLY!
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That is the reality of cryptocurrency.
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The idea of limitation is going to be a thing of the past.
When people understand the ability to push towards the infinite, that will mean we see a radical shift.
There is an infinite amount of money that can be created in cryptocurrency. That means we can boost productivity to an unprecedented level.
Value will follow according to where people go. It is going to be amazing.
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I REIT in crypto from would be AWESOME the not so awesome thing the current way it's trying to be taxed which is total lunacy
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Might have different tax implications since tokens are treated differently by the IRS.
It could be a REIT without using that structure. Perhaps a DAO?
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That is a big step forward. It is a market worth a couple hundred trillion dollars globally. This means there is a lot of tokenization to be done.
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That's true. So much is to be done. Looking forward to see some new players taking on this opportunity.
Tokenization can revolutionize the real estate industry.
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Does this mean that I can own a piece of a penthouse apartment or a modest condominium along with 38,475 other people? How does this work?
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It's more like security tokens used to pay in crypto and sign an agreement through smart contracts for selling and buying for real estate.
And no you cannot own a piece of the property unless it's virtually divided into several NFTs. 😜
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I understand the part about security tokens.
To own a piece of a propetry I would need to buy an NFT. How small is that NFT? Is the NFT defined for one "home," one room, one square foot or square meter, one building?
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Depends upon how it is structured but in theory yes.
Think of an office building in a downtown market. You and the other 38,475 could own a piece of that through your tokens and get paid quarterly based upon the rental income.
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I'm OK sharing a building with 38,475 other people; I was more concerned with the smallest unit I could own as a whole piece (1 bathroom, 1 bedroom, 1 closet, 1 apartment, etc.)
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It will allow the rest of us to get involved in it.
Who wouldnt want a couple tokens in an office building in a downtown market. Even as a flyer of a few dollars, do that a few hundred times across the world.
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That's huge! That's why I'm more and more convinced that tokenization is the future of our socity
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Same here. Tokenize everything. I touch something and it gives me tokens. 👻
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Now that's what I'm talking about!!
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