Roofstock, the digital real estate platform, announced the sale of a home in South Carolina for 175,000 USD as an NFT. The sale was facilitated by Roofstock onChain (ROC), Roofstock's Web3 subsidiary that facilitates instant transactions for single-family rental homes.
Roofstock onChain received a 3% commission on this sale.
Adam Slipakoff, who bought the house in question, said that the process of acquiring his new property using NFTs was less cumbersome than the traditional mortgage process.
Slipakoff said:
"Instead of waiting months for underwriting, appraisals. title searches and preparing deads, I was able to buy a full title-insured, rent-ready property with one click. Best of all, I am no web3 expert"
