Tokenized Home Sold Out in Under 2 Weeks!
Homebase sold out its first tokenized rental property, The Cardinal, on Solana in less than two weeks.
- The Cardinal, a $235k single-family rental, was tokenized into $100 NFT shares.
- Investors will receive rent via USDC directly to their crypto wallets monthly.
- Homebase handles property management and improvements.
- User security is prioritized, with SEC-registered tokens and token recovery processes.
❗Why It Matters
This successful experiment demonstrates the potential for mass adoption of tokenized real estate and a shift towards decentralized finance in the property market. Although Homebase is not the first to sell real-estate via NFTs, its approach and rental distribution is slightly different than the mechanics showcased via sales on Roofstock. As the non-crypto world grapples with "real use cases," the Homebase sale represents a glimpse into the future crossover of real estate and blockchains.
📊 By the Numbers
- $235,000: The value of The Cardinal, the first tokenized rental property
- $100: The cost of each fractional NFT share
- < 2 weeks: Time taken to sell out all NFT shares
🎬 Take Action
You can sign up for early access to Homebase's next tokenized property offering at app.homebasedao.io/register.
Users must verify their identity and be from the United States in order to invest.