- Enjin and LABS Group have partnered to disrupt one of the oldest and most stable markets by creating fractionalized real estate assets.
- Enjin will mint and issue NFTs that represent real estate assets using blockchain technology.
- Anyone will be able to purchase the NFTs for as little as $100.
Additionally, the Enjin ecosystem includes a single, smart contracts registry that makes it easy for users to ID new contracts. These merits make Enjin the idle site to mint and issue the new real estate NFTs.
Enjin CEO Maxim Blagov said:
“The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It’s only a matter of time before real estate is tokenized. Together with LABS, we can be among the first movers to disrupt one of the world’s oldest markets.”
Traditionally, real estate has been a niche industry with many barriers to entry. The liquidity needed alone makes it hard for retail investors to join. However, LABS Group has been working on breaking these barriers for a while. The group has been doing this by offering fractional real estate assets that are both cheap and easy to access.
With the NFTs, LABS Group will further their plan to enable people to invest in real estate for as little as $100. As a result of these NFTs, retail investors will finally invest in high-end real estate like hotels, resorts, and apartments.
At the same time, the site will allow approved real estate developers to crowdsource funds.