Florida House To Be Sold as NFT Through Online Auction Starting at $650,000
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- DeFi Unlimited co-founder Leslie Alessandra owns the property.
- A Spanish-inspired home that will be auctioned off online starting at $650,000.
A Tampa Bay home in Gulfport will be auctioned off Tuesday as the first piece of U.S. real estate auctioned as an NFT. 6315 11th Ave. S in Gulfport, Florida, is a Spanish-inspired home that will be auctioned off online starting at $650,000, sponsored by Propy, a real estate technology business headquartered in Palo Alto, California, who will coin the property rights into a digital token.
NFTs may be used for real-world transactions, and this was highlighted for the first time when Propy sold TechCrunch founder Michael Arrington’s Kiev flat as an NFT last year, making this Florida addition the next step in the process.
NFT to Reflect the Properties Digital Rights
Tampa Bay-based blockchain business DeFi Unlimited co-founder Leslie Alessandra owns the property, which she lists as an NFT, in order to demonstrate how the technology is being used in real estate. Similar to a real estate deed, the NFT would reflect the property’s digital rights. The NFT will act as a legal LLC for the purposes of recording, ensuring that the property rights and ownership records of the Gulfport house are legally preserved.
According to Alessandra, a mural by a local artist will be affixed to the property rights for the Gulfport house after they are minted. Artwork known by “Saint Pete” will be painted on one of the property’s exposed brick walls, giving the city a leg up in the future when street art like his is immortalized. More than 2,000 individuals have already registered for the NFT house sale auction, which will take place on February 8.
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