People are buying real estate with crypto and NFTs. Did you know that?
2 weeks ago I went to a Crypto convention in Miami. This convention was specifically about real estate, crypto, blockchain, and all about the digital world and real estate meaning the Metaverse.
I attended the first crypto and real estate summit with over 35 speakers for two days, including the Mayor of Miami, Francis Suarez, who has been very active with crypto and he is kind of building the crypto version of Silicon Valley in Miami. He is also the first American elected official to create a token called “MiamiCoin” — the nation’s first “CityCoin.”
In other words, Miami, Florida, is quickly becoming the center of the cryptocurrency universe and this is in part of the Mayor of Miami’s tweet, his famous: How can I help? Tweet back on Dec 4th, 2020 when he replied to a tweet about moving Silicon Valley to Miami.
After this tweet a lot of crypto companies have relocated to Miami or invested heavily in Miami in the past year, companies like BlockTower Capital, Blockchain.com, FTX, and eToro.
On the first day of the event, the speakers give so much information like:
They also talked about the legal part, mortgages, and tax issues around crypto and blockchain. All this and other issues on the first day.
Without a doubt, I learned a lot from these issues that seem to me to be vital for us real estate, since this is here to stay. If we want to stay relevant and up-to-date with what’s new, it’s very important to educate ourselves.
There is actually DeFi Lending and Decentralized Mortgages already happening, and title companies managing all of this. Additionally, a few weeks ago the first real-life 4-bedroom house in the USA was sold. This was in Gulfport, FL, and sold for over $653,000 as an NFT.
On day two there were very interesting panels too with the opening being Tom Ferry for example.
If you don’t know who Tom is, he is one of the best, if not the best real estate coach. If you follow me for a long time you know that I usually attend events every year that Tom does as he gathers valuable market information and trends.
Just the fact that he attended this particular crypto event in Miami makes you understand that these are vital subjects for realtors as for everything related to real estate, to be able to educate themselves and be able to transmit the correct information to the clients you represent.
In fact, that’s what Tom talked about, how to stay culturally relevant in 2022. In addition to Tom, in the following panels they talked about:
All this was a bit overwhelming, I can’t deny it, quite a bit, because the reality is that these topics are a bit difficult to understand.
There are so many sectors that are reluctant to use cryptocurrencies but without a doubt, the demand in investors can change this. I mean, it is certainly something new for many but there will eventually be an expert for each area, for example, if you buy land in the Metaverse and want to build or develop your land, there are Metaverse architects and designers who will build you a house (or 10) on a virtual plot of land right now. That is a simple example of course, but we are going in that direction. Changes cost a lot to humans, right?
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