Propy Delivers Major Breakthrough with Trillion Dollar Potential in World’s First Real Estate NFT Auction

Propy CEO Natalia Karayaneva, who has worked tirelessly in the last few years to make this dream a reality, said:

“I’m thrilled with the results of the auction and the work our partners and our team did to bring this project to fruition.  It’s a major milestone in leveraging the promise of blockchain technology and non-fungible tokens (NFT) to achieve self-driving real estate transactions.”

Naturally, the NFT sale works differently than a traditional real estate one. In a textbook example of expertise and innovation, Propy has figured out how to NFT a physical property perfectly compliant with legal requirements. The ownership of the property is held by a US registered LLC. The LLC itself is already recorded in Ukraine, and the apartment is listed in their real estate registry. Michael Arrington signed proprietary-developed legal papers for NFTs to transfer ownership to all future buyers. Propy developed the smart contracts, the legal framework suitable for the US market, and will soon launch our real estate NFT auction platform for the upcoming Propy-NFTs.

For more information visit https://propy.com/blog/propy-delivers-major-breakthrough-with-trillion-dollar-potential-in-worlds-first-real-estate-nft-auction