Hashing It Out: Roofstock onChain vice chairman explains how Web3 and actual property work together

The tokenization of real-world property has been tipped as a significant use case of blockchain expertise that might drive Web3 adoption. In episode 35 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw interviews Sanjay Raghavan, vice chairman of Web3 Initiatives at Roofstock onChain, about tokenized actual property on the blockchain and the way digital actual property investing interacts with the nonfungible tokens market and the decentralized finance panorama. Raghavan additionally talks about fractional nonfungible tokens (NFTs), rules and the dangers associated to Web3 actual property platforms.

Raghavan explains how actual property is bought on the blockchain utilizing NFTs. Firms that promote actual property on-chain should first buy the property and create a restricted legal responsibility firm (LLC). An NFT is then created, which is related to the possession of the LLC. When customers purchase the NFT, they purchase the LLC, which implies they’ve bought the property.

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