Roofstock OnChain Sells Another Property via NFTs with Origin Story

Roofstock onChain, in collaboration with Origin Story, is once again making waves in the real estate industry by successfully completing its third property sale via the Roofstock onChain NFT marketplace powered by Origin Story. This innovative use of blockchain technology continues to reshape the real estate landscape.

Remember the first-ever real-life home sale via an NFT marketplace last year? 🏠@RSOnChain x Origin Story made it happen! 🤝

Fast-forward to today, sale #3 is now COMPLETE! 🌍

Here’s what you need to know 👇https://t.co/u08cC2n7eq

— Origin Story (@OriginStoryNFT) September 5, 2023

The property, situated at 332 Montclaire Ln in West Columbia, South Carolina, is a three-bedroom, two-bathroom home, and it was sold for 204,000 USDC. What sets this sale apart is Roofstock’s partnership with Skillet.ai, an NFT liquidity aggregator. This collaboration provides users with flexible financing options, a significant departure from traditional avenues.

This transaction not only benefits the buyer and seller but also challenges conventional real estate practices. It underscores the potential of tokenizing real-world assets (RWAs) to revolutionize both the real estate and blockchain industries.

Recap of Previous Home Sales

First Sale: In September 2022, Roofstock onChain and Origin Story made history with the first-ever sale of a real-life home using an NFT marketplace. The property, a three-bedroom house in Columbia, SC, was acquired for $175,000 in USDC. This transaction featured a swift ownership transfer and a minimal 3% fee, a significant reduction compared to traditional real estate standards.

Second Sale: Roofstock achieved another milestone with the sale of a property in Harvest, Alabama, for $180,000 in USDC. Leveraging Teller Protocol, they offered flexible, asset-backed Decentralized Finance (DeFi) lending. This approach emphasizes efficiency, transparency, and security, highlighting its adaptability in diverse real estate markets.

The Rise of Tokenizing Real-World Assets

The real estate industry, known for its complexities, fees, and delays, is undergoing a tech-driven transformation. Tokenizing properties with NFTs on the blockchain streamlines property transactions, making them simpler, faster, and more transparent. This innovation empowers investors and injects liquidity into a historically stagnant market.

Origin Story leads the way in this paradigm shift. Beyond its achievements in music NFTs and collaborations with major NFT projects, the introduction of a redeemable NFT platform is groundbreaking. This platform allows an NFT, possibly representing a sought-after property, to be easily redeemed for the physical asset or traded on secondary markets. This convergence of the digital and physical worlds has the potential to simplify asset trading across multiple industries.

About Roofstock and Origin Story

Roofstock onChain, a subsidiary of Roofstock, Inc., specializes in tokenized single-family rentals. Origin Story, a segment of Origin Protocol, is renowned for its NFT platform. Together, they are setting new standards in the real estate sector through cutting-edge blockchain innovations.

Conclusion

Through its partnership with Roofstock OnChain, Origin Story is at the forefront of innovation in the web3 space. These property sales indicate a future where properties are tokenized for faster, clearer, and more extensive deals. As Origin Story continues to innovate, the possibilities for asset tokenization expand. Stay tuned to witness and leverage these groundbreaking shifts.

Note: Currency conversions are based on rates at the time of writing and may vary