Confused by terms like cryptocurrency, blockchain, NFT, bitcoin, and metaverse? Wondering what the heck Elon Musk is talking about? If you’re not only slightly confused by these terms, but also wonder how the Boston condo for sale industry may be impacted, you’re not alone! The future of real estate transactions on the blockchain is here and is quickly gaining momentum.
Although blockchain technology has created waves across multiple industries, the utilization of blockchain in the Boston condo market is still in its infancy. In this industry, blockchain has the potential to be used for legal contracts, financing, buying and selling property, and so much more! Due to the unknown, these topics may sound slightly overwhelming, and at first, the concept of blockchain may seem a bit complicated. In reality, it’s simply a type of database that chains together digital blocks of data, and is what makes it possible for the use of cryptocurrencies to exist in the first place.
• What are the key things Boston condo agents and brokers need to be aware of in regards to blockchain technology?
• Do agents and brokers need to be prepared for Web3?
• Will NFTs continue to be introduced into the real estate sector?
• Is blockchain technology secure?
• How can the real estate industry be best prepared?
In the video below we will attempt to answer the questions above.