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Traditional real estate buying, selling and renting transactions are undergoing a radical transformation under the influence of digitalization and blockchain technology. NFTs (Non-Fungible Tokens) are at the forefront of innovation in this field, enabling the digitalization and tokenization of real estate. Here's an in-depth look at real estate sales and rental processes with NFTs:

1. Selling Real Estate with NFTs:

• a. Tokenization:
  Real estate assets can be converted into digital tokens through NFTs. These tokens represent specific property and secure ownership rights on the blockchain.
• b. Marketplaces:
  NFT-based real estate sales typically occur on private marketplaces. These platforms bring buyers and sellers together, manage transactions through smart contracts, and enable assets to exchange hands securely.
• c. Offer Processes:
  Once sellers have their properties tokenized with NFTs, they list those NFTs on marketplaces. Buyers can purchase NFTs through their digital wallets. Bidding processes are automatically managed by smart contracts and occur transparently.
• D. Transfer and Registration:
  Once the sale takes place, the ownership rights of the NFTs are updated on the blockchain. This works in a similar way to traditional land and property records, but is faster and more transparent.

2. Renting Real Estate with NFTs:

• a. Rental Agreements:
  NFTs enable the digitalization of rental agreements. Through NFTs, tenants acquire rights to use the property for a certain period of time.
• b. Smart Contracts:
  Lease payments and other contract terms are managed automatically thanks to smart contracts. Tenants may be subject to automatic penalties if they do not comply with the established criteria.
• c. Security and Transparency:
  Real estate leasing processes with NFTs offer security and transparency benefits. Smart contracts provide an objective solution in case of disagreement between parties.

3. Risks and Challenges:

• a. Legal Regulations:
  Lack of determination of the legal framework is a significant obstacle to real estate transactions with NFTs. Establishing and complying with legal legislation is critical for this new model to be successful.
• b. Technological Infrastructure:
  The development and increased use of blockchain technology requires the creation of a strong technological infrastructure to support real estate transactions with NFTs.

Conclusion:

Selling and renting real estate with NFTs has the potential to make property transactions faster, transparent and secure. However, for this transformation to be successful, all stakeholders in the sector must cooperate and adapt to technology.