HouseBit, based in Miami, has completed the first fully digital, real estate tokenization on a property in downtown Miami; the transaction used cryptographic decentralized blockchain technology. Miami-based International Realty Group, a Florida- licensed, full-service boutique real estate brokerage specializing in the luxury market, was also involved in the transaction. According to the announcement, the tokenization involved the combination of HouseBit’s patent-pending technology and a land trust created specifically for the property, which issued 1,000 ownership tokens, including a single occupancy non-fungible token (“NFT”), which provides the right to occupy the property. The other ownership tokens represented proportional ownership in the property. This is the first time a Florida land trust has been created for decentralized ownership and occupancy rights. The company noted that ownership tokens and the occupancy token will be available on Uniswap and OpenSea beginning today, with full descriptions available on the Multiple Listing Service. “Real estate is really the last digital frontier, and we have been inspired by the mayor of Miami’s support for the crypto industry and innovative applications of blockchain technology. This is why we chose Miami as our headquarters,” said HouseBit cofounder and senior vice president of corporate affairs Lawry Trevor-Deutsch in the press release. “We are very excited that the public will finally be able to reap all the benefits of Web 3.0 for real estate including simplicity, security and the ability to enter the real estate market at virtually any financial level. Our goal is to democratize real estate and allow people to have full control over their real estate holdings.”
To view the full press release, visit https://ibn.fm/AqQsP
About HouseBit Corp.
HouseBit is a company specializing in the development and implementation of digital real estate and real estate technology. For more information about the company, please visit www.HouseBit.com
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