Real Estate Investing and NFTs: A Marriage Made in the Blockchain?
Would you buy a slam dunk by LeBron James for $208,000? How about a digital house for $500,000? For most people, that’s a hard no. After all, why in the world would you buy something digital for so much when it could be easily pirated and distributed elsewhere?
Well, that’s the funny thing about non-fungible tokens (NTFs) and why they’re starting to take the world by storm. By definition, non-fungible tokens are unique (the non-fungible part), and even though they exist in the digital world, they’re able to be secured and tracked using blockchain technology. Yes, the same blockchain that’s made Bitcoin, Dogecoin, and all the other -coins possible.
NTFs are wholly unique items, albeit digital ones, and that’s part of what gives them value to collectors. But that’s hardly the whole story.
Non-fungible tokens: what they are, what they aren’t
The reason Bitcoin comes up in…