Roofstock onChain Announces Sale Of Alabama Rental Property Via NFT On Ethereum Blockchain


Digital real estate platform Roofstock announced on Friday the successful sale of a rental property in Alabama through a non-fungible token (NFT) enabled by Roofstock onChain (ROC), its Web3 subsidiary.

What Happened: The transaction was settled via an NFT marketplace on the Ethereum ETH/USD blockchain built by Origin Protocol.

Teller Protocol, a Decentralized Finance (DeFi) lending platform, provided flexible asset-based lending options for the real estate transaction.

The company said it is the second sale of a rental property via NFT enabled by Roofstock onChain.

Roofstock onChain links home ownership to NFTs by holding each property in a limited liability company, which is then wrapped in a NFT on Ethereum, referred to as a “Unique Home onChain.”

The entire transaction, from financing to title ownership, takes place peer-to-peer on the Ethereum blockchain.

Buyers can also seek financing for the NFT property purchase through USDC USDC/USD Homes, a DeFi lending marketplace built on the Teller Protocol.

Sanjay Raghavan, head of Web3 Initiatives at Roofstock onChain, added,…

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