Propy, a Blockchain-driven real estate trading platformAnnounced today that it will auction an NFT backed by real estate-an apartment in New York Kiev, Ukraine, This was the first real estate sales based on blockchain in history.

The apartment will be publicly auctioned on June 8, 2021. The NFT for the transfer of real estate ownership will be auctioned within 24 hours, with a starting price of $20,000 for the first listing.

In 2017, the property was sold to TechCrunch and Arrington XRP Capital founder Michael Arrington (Michael Arrington). The transaction is carried out entirely through smart contracts on the Ethereum blockchain using cryptocurrency, and is the first property ever sold and transferred on the blockchain.

Propy is supported by blockchain investor Tim Draper and has helped thousands of agents and home buyers make quotations through its online platform and completed transactions worth more than $1 billion .

“This time NFT will be recorded in history. For Propy, this is an important milestone in the use of blockchain technology and the promise of non-fungible tokens (NFT) to realize autonomous driving real estate transactions. Real estate as an asset class will become a decentralized financial economy a part of.”
– Propy CEO Natalia Karayaneva

This unique collectible NFT includes:

• Obtaining paperwork for ownership transfer
• Apartment Pictures
• Digital art NFT by Chizz, a graffiti artist in Kiev (drawing the physical painting of the artwork on one wall of the apartment)

process:

The seller signs a proprietary legal document for the NFT to transfer ownership to a future buyer; conducts an NFT auction and receives payment in cryptocurrency. After filling in the KYC details (name), the auction winner will become the owner within one minute.

“It is very exciting to promote innovation and use cases around blockchain technology and real estate. This NFT PoC can continue to develop larger tools in the DeFi field. Enable mortgages and P2P mortgages.”
– Michael Arrington, founder of TechCrunch and Arrington XRP Capital

Details of NFT sales are available Here It will be updated continuously to include property information, answers to frequently asked questions, etc.