Brickfy goes into digital real estate
What are digital Real Estate assets?
The real estate industry is one of the oldest industries there is. It involves all the activities around the land. The main activities are buying, selling, renting, building, the use, rights, and access to the resources in the plot.
Digital Real Estate is not different from the traditional one. To fully understand it, we need to change our perspective of assets because online assets are domains, blogs, and craft artists are considered internet property assets (Digital Real Estate).
On the internet, one of the easiest assets to understand as a digital real estate asset are domains, and comprehend the intrinsic value and how it could even be revalorized over time. Creating a market with the same possibilities of commerce as in the real world.
Besides the main assets listed above, there are new types thanks to the blockchain community. The community is innovating the world by creating new protocols over the ethereum network, where there is a 3d world version of the internet, commonly referred to as metaverse. The assets we are talking about in this world are anything from undeveloped land to malls, casinos, events, museums, mansions, arenas, studios, bars, and hotels. When buying a Digital Land, what you are getting is an NFT of that land. The NFT gives you the ownership and usufruct of that object. But before continuing. What is an NFT?
It is a digital asset, representing internet collectibles like land, art, music, and games with a public ownership certification linked to a wallet over the ethereum network. Owners of NFTs are entitled to certain rights and opportunities the project has. Digital Land Owners have the right to develop, rent, sell and do the same things as in the real world.
You might think this is far from now, but it is already here. You can enter directly by diving into metaverses like SuperWorld, Somnium Space, Cryptovoxels, Upland, the Sandbox.
Why is it used over the ethereum network?
The NFTs are tokens built inside the ethereum network using the ERC-721, ERC-1155, ERC-20 protocols. The protocols are smart contracts providing different features that can help add automated transactions with the built-in advantages of the blockchain world.
Advantages of the blockchain:
• Security: Blockchain changed how critical information is viewed. The technology creates an unalterable record that is encrypted end to end.
• Traceability: All transactions are immutability recorded and are time- and date-stamped. This enables members to view the entire history of a transaction and virtually eliminates any opportunity for fraud. As well it creates an audit trail where each step of the asset will be visible.
• Privacy: On the blockchain, personal data can be anonymized using permissions to prevent access. Among other mechanisms available in the technology.
• Decentralization: Information is stored across a network of computers rather than a single server, making it difficult for hackers to view data. Without decentralization, each organization has to keep a separate database. As the core of blockchain is a distributed ledger, all the transactions and the data are duplicated and saved multiple times in multiple locations.
• Transparency: All participants with access rights will see the same information at the same time. Providing full transparency.
• Governance: It can be described as the government, with the rules and laws every citizen has to follow and the ability to vote. But we can see governance in other structures like the family, schools, institutions, organizations, etc. Governance is a living thing and it changes with the needs of the participants. The traditional governance typologies are direct and representative. Blockchain governance is different. Uses a free system where the responsible are four communities: Core Developers, Node Operators, Token Holders, The Blockchain Team.
Barriers of the blockchain:
◦ Know-how: It is a new technology. Most people have only heard about it but have not interacted with it.
◦ Scary: The uncertainty and living physical assets for digital assets is a big step.
◦ Huge Risk: Assets exchanged in cryptocurrencies.
◦ Scams: Some people are trying to get just into the hype by creating projects without any sense. The curation work of NFTs is as complicated as with any other item.
◦ High Entry Costs: There is a commission and a gas cost which not all persons can afford.
What have we bought? (and you can invest)
Brickfy dived into the metaverse by buying a piece of land in The Sandbox world. YES, we got the NFT LAND (-77, -75) https://www.sandbox.game/en/map/?liteMap=false&tX=560&tY=854&zoom=1&x=-77&y=-75
If you want to learn more about what can be done in the metaverse, checkout Snoop Dogg LAND
How can you take advantage of this new opportunity?
- Sing up!
- Pass the KYC process.
- Add money to your account.
- Wait for the opportunity to open.
- Invest! (It will be open for a limited time. With a minimum investment of 100€)