In the prediction of the US gold broker, 50% of real estate transactions in the future will use crypto payments and NFT as the contract form. This forward-looking view has aroused heated discussions and expectations in the industry. With the continuous development of blockchain technology, cryptocurrencies and NFTs have become innovative tools that have attracted much attention in real estate transactions. This article will explore this trend in depth and analyze its possible impact and challenges.

 Crypto Payment and NFT Contract: Future Trends in Real Estate Transactions

With the rise of the digital economy, traditional real estate transaction methods have gradually revealed problems such as inefficiency and information asymmetry. The prediction of the US gold broker can be described as a heavy hammer. The introduction of crypto payments and NFT technology into the field of real estate transactions will bring earth-shaking changes to the entire industry. The security and efficiency of crypto payments, as well as the immutability and transparency of NFT contracts, will provide more reliable transaction guarantees for buyers and sellers, while simplifying the transaction process and reducing transaction costs.

 Blockchain technology empowers real estate transactions

As the underlying support of cryptocurrencies and NFTs, blockchain technology has injected new vitality into real estate transactions. Cryptocurrencies represented by Bitcoin and Ethereum are not restricted by geographical location, trade 24 hours a day, and transaction records cannot be tampered with, which provides more possibilities for real estate transactions. As a non-fungible token, NFT can ensure the authenticity of property ownership, avoid property rights disputes, and inject more trust and transparency into real estate transactions.

 Example analysis: Application of encrypted payment and NFT in real estate transactions

For example, Xiao Ming bought a luxury house in New York, completed the payment through Bitcoin, and signed an NFT contract. After the transaction is completed, he can check his property information at any time through blockchain technology to ensure the security of property ownership. At the same time, the seller can also receive the payment in real time and leave a transaction record in the NFT contract, making the transaction safe, efficient and transparent.

 Challenges and prospects

However, there are still many challenges to realize the widespread application of encrypted payment and NFT in real estate transactions. On the one hand, the imperfection of regulatory policies and laws and regulations will become an important factor hindering its development; on the other hand, the process of popularization and promotion also needs to overcome the problems of technical barriers and user acceptance. However, with the continuous maturity of blockchain technology and the cryptocurrency market, I believe that the application prospects of encrypted payment and NFT contracts in real estate transactions must be bright.

 Conclusion

The innovation of future real estate transactions has begun, and encrypted payments and NFT contracts will become a new trend. As industry insiders, we need to keep up with the times, continue to learn and explore, and better adapt to the challenges and opportunities brought by this change. Let us look forward to the future real estate transactions becoming more convenient, safer and more efficient due to encrypted payments and NFT contracts.

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Ryan Serhant, a top real estate agent in the United States, accepted an exclusive interview with Yahoo Finance on the 8th of this month, talking about the growing importance of cryptocurrency in the real estate market. He even predicted that in the next five years, 50% of real estate transactions in the United States will be conducted using cryptocurrency.

He took Lane
Rettig, one of the former core developers of ETH, as an example. Serhant recently helped Rettig complete a $3.5 million apartment transaction in Central Park, New York; although Rettig finally paid in traditional US dollars, Serhant pointed out a trend: many cryptocurrency buyers want to use the funds to buy real estate after accumulating wealth in the field. He added: We are seeing much more (cryptocurrency buyers) now than in 2020 and the first half of 2021. After people have accumulated wealth, they are trying to figure out how to save it, and the way these people do it is to turn it into tangible assets. Just like the way people with plenty of cash withdraw money from banks and invest it in real estate to hedge against inflation, we have seen similar situations in the crypto community. Customers are looking for diversified ways to allocate funds.

Serhant pointed out that these crypto tycoons have made so much wealth that they can afford 50%-70% of the price of a house in crypto, and then settle the remaining small amount in US dollars.

"Normally, if these people go to the bank to get a credit rating based on the W-2 annual salary total form, they can't even afford an apartment. So cryptocurrencies open up the opportunity to own a home to more people. This is a very good thing!"

50% of real estate transactions in the United States will be conducted in cryptocurrencies within five years

Serhant said he is handling a nearly $40 million transaction for a penthouse in Lower Manhattan that was conducted entirely in cryptocurrencies and did not involve loans, and he believes the market will see more such transactions in the future.

"In the next five years, 50% of real estate transactions in the United States will be conducted in some form using cryptocurrency. There will be a lot of cryptocurrency whales moving money and putting it into hard assets, buying penthouses, etc. I think we are at a very unique time." 

Currently, the biggest obstacle to cryptocurrency adoption is its high volatility and the inability of financial institutions to record it on the ledger; however, Serhant believes that direct wallet-to-wallet transactions will eventually appear, in which funds can be transferred from the buyer to the seller instantly. 

He also revealed to the foreign media "Dycrypt" today (17): We will conduct one or two wallet-to-wallet transactions in New York this month alone, and will also use Bitcoin payment services such as BitPay to conduct six or seven transactions. 

Serhant pointed out that as more and more people enter the cryptocurrency field, it will become a potential new way to save. Banks should also be more comfortable with crypto assets in the future and start providing loan services, but that time has not yet come. 

NFT signs real estate contracts 

In addition, Serhant also mentioned that non-fungible tokens (NFTs) may have important applications in real estate in the future. He believes that current real estate contracts are still signed online in PDF form and then emailed in the same way as in 1996, and we have not made any technological progress in the way we buy and sell real estate.

He predicts that blockchain technology will change this. In the future, contracts may be signed in the form of NFTs. He added: We may not call it NFT, you will still feel like you are signing a contract. The way contracts are held, recorded and tracked will be on the blockchain in the form of NFTs, which opens the door to large-scale investment and ownership of luxury real estate. In the future, entire transactions can be executed using NFTs, and can even be used to collect rent.