Learn Commercial Real Estate
with Divine Katoure
A Prosperous New Year to Everyone!
It's a new year with new opportunities.
There are many new things happening.
As the new year gets started remember to stay true to who you are and what works for you.
Let's get into it.
One of the topics I have been studying and quite excited about is NFT's.
This month we will focus on NFT and Real Estate.
Each week we will focus on a different aspect of the topic.
Please share this with others who are also interested in NFT'S.
Maybe you have heard or seen that word around, and maybe you are already know what it is and how it works.
Learning how NFT's can be applied in real estate has become one of my fascinations.
What is an NFT?
An NFT is a Non- Fungible Token which basically means it is unique and cannot be duplicated.
Let's break down that word phrase "Non Fungible Token."
According to Merriam Webster the word Fungible means:
The definition of Token is:
The word Token is this word phrase refers to crypto currency
The word Crypto comes from the Greek word Kryptos which means "hidden."
The word NON in this word phrase is very important. It indicates that this fungible token cannot be duplicated or replaced.
Thus we have a Non Fungible Token.
Ok so Great! What next ??
An NFT is unique and it can be anything that one creates such as a book, artwork, poems, education lessons, recipes and more.
Best of all, it can be REAL ESTATE properties.
It can be multi-family, homes, warehouses and more.
The idea is new and it will take years for real estate to fully accept NFT opportunity.
The first NFT apartment was sold in New York city and purchased by the owner of TechCrunch and Arrington Capital, Michael Arrington.
There was a piece of art included and the apartment sold to a new home owner from the Bay Area on the Ethereum blockchain.
The entire transaction process to ownership took 22 minutes in total.
Don't let me give you the big idea that this is all Easy Peasy Lemon Squeezee ... oh no, there are lions and tigers and bears out there!
And thus the many safety issues that arise when transacting on the blockchain, many users remain anonymous.
For agents knowing how to put real property on the blockchain in leasing, buying and selling.
For agents who know how to put the LOI, Lease, Purchase Contract, Tittle, etc, there will be an opportunity for residual royalties anytime that property is bought or sold.
Small Things Make a Big Difference:
And knowing who your client is, tends to be the number one caveat in real estate. Many users of the blockchain are anonymous. It will take many more people using crypto comfortably in real estate exchanges for this tool to become mainstream.
Different Point of View:
Even if you are not interested in working with NFT's, the information here allows you to have a stake in the conversations that are happening around the tables.
What Remains the Same:
Good clean safe deals will always be king!
Great deals among parties will grow opportunities for yourself and others.
Interaction, trading, buying and selling have been around for since the beginning of time.
We continue to evolve and so do our processes.
Picture this far out scenario:
Just think how crazy it would be if an American family of 7 had only one phone in the house!
And that phone couldn't move, and when it rang, the person on the other line could be asking for any of the 7 people in the house.
But no one ever knows whose calling. And you can't make the phone be quiet except for unplugging it which means you might miss an emergency!!
We Grow - We learn - We Keep Going
As always, have a productive week!
Speak Nicely to Yourself and Others.
Mind the Numbers and Percentages.
ENGAGE AND CONNECT WITH US. I'd love to hear from you.
ENGAGE AND CONNECT WITH US.
BRING US YOUR QUESTIONS ABOUT LEASING
WE ARE HERE TO HELP
Website address www.LearnCommercialRealEstate.
The best is yet to come,