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How Is Web3 Transforming The Real Estate Industry Through Blockchain?

Web3 is considered the next iteration of the internet, a digital space that can be entered using virtual reality (VR) or augmented reality (AR) technology. It’s even becoming possible to buy real estate in the virtual world.

Who can buy?

Anyone can invest in Metaverse real estate and take partial ownership if the cost is high.

“It also opens up the world of real estate investing to less wealthy individuals. From corporate boardrooms and mainstream media to housing, there is a lot of discussion about Web3,” said Abhijit Shukla, CEO of blockchain company Tarality. says Mr.

For example, if an individual cannot afford to buy a $250,000 apartment in the metaverse, that person can choose partial ownership. You can also trade for an equal portion of another property at any time.

He adds that by turning real estate into tokens, investors can use tangible assets to create portfolios that can be easily liquidated on the blockchain.

How can I purchase?

The best way to access Web3 today is within a browser. Investors can purchase land in her Decentraland (MANA) and Sandbox on the Metaverse platform. If you want to invest in Decentraland, you can invest in MANA coin. “Investors can either access the platform directly to purchase assets or access an open NFT marketplace where virtual metaverse assets may be listed. Users can connect their Web3 wallets to the platform to make purchases. Once the transaction is approved, ownership of the asset is transferred to the investor’s wallet,” said Ankitt Gaur, CEO of EazyFi, a Layer 2 Defi lending protocol network.

“A cryptocurrency wallet will be essential for an investor, similar to accessing Web3 to buy land in Decentraland or Sandbox,” said Shukla.

First, you need to set up an Ethereum wallet like MetaMask to act as your Metaverse login key. “Just go to his website on Decentraland or Sandbox, connect your wallet, log in, and use the tokens you can buy with your credit card to get your digital land,” he adds Shukla.

How Web3 will transform the real estate industry

Web3 is transforming the real estate industry in countless ways. Unlike traditional home-buying processes with endless documentation processes and legal hassles, Web3 gives buyers a click-to-close experience.

“With the help of Web3 technologies such as smart contracts, NFTs and blockchain, seamless transfers of real estate assets are now possible for all stakeholders (buyers, sellers and agents),” said the platform. said Tarun Sainani, CEO of HouseEazy. For buying and selling houses.

He said such online transactions are already taking place abroad, with payments being settled through cryptocurrencies. We used crypto assets to secure

“India may be at the forefront of digital transformation, but for the real estate industry, it will continue to push the traditional boundaries as new-age companies enter the market, making transactions easier and more seamless for consumers,” Sainani said. A wall is standing in the way of our system.”

According to experts, Web3’s user-centric and data-driven nature offers endless opportunities for real estate marketing.



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