US Gold Brokers: 50% of real estate transactions in the future will be paid with encryption, with NFT as the contract

Ryan Serhant, a top real estate agent in the United States, accepted an exclusive interview with Yahoo Finance on the 8th of this month to talk about the growing importance of cryptocurrency in the real estate market. He even predicted that in the next five years, 50% of real estate transactions in the United States will be conducted using cryptocurrencies.

He took Lane Rettig, one of the former core developers of ETH, as an example. Serhant only recently helped Rettig complete a $3.5 million apartment transaction in Central Park, New York; although Rettig ended up paying in traditional U.S. dollars, Serhant pointed out a trend: after many cryptocurrency buyers have accumulated wealth in the field , Hoping to use the funds to purchase real estate. He added: We now see (cryptocurrency buyers) much more than in 2020 and the first half of 2021. After people have accumulated wealth, they are thinking of ways to preserve them. The way for these people is to turn them into tangible assets. Just as cash-rich people withdraw funds from banks and invest them in real estate to hedge against inflation, we have seen a similar situation in the crypto community. Customers are looking for diversified funding allocation methods.

Serhant pointed out that these cryptocurrency millionaires have made a lot of wealth. They can use cryptocurrency to bear 50%-70% of the house price, and then settle the remaining small amount in U.S. dollars.

"Normally, if these people go to the bank to get a credit rating based on the W-2 annual salary summary table, they can't even buy an apartment. Therefore, cryptocurrency opens up the opportunity to own home ownership to more people. This is a piece of cake. Very good thing!"

50% of real estate transactions in the U.S. will be conducted in cryptocurrency within five years

Serhant stated that he is dealing with a lower Manhattan penthouse transaction valued at nearly 40 million U.S. dollars, which is entirely in cryptocurrency and does not involve loans. He believes that the market will see more such transactions in the future.

"In the next five years, 50% of real estate transactions in the U.S. will be conducted in some form using cryptocurrency. There will be many cryptocurrency whales transferring funds and investing them in hard assets, buying penthouses, etc. I think we are in a very Unique point in time."

At present, the biggest obstacle to the adoption of cryptocurrency is its high volatility and the inability of financial institutions to record it on the ledger; however, Serhant believes that eventually there will be a direct wallet-to-wallet transaction, in which funds can be instantly Transfer from buyer to seller.

He also revealed to the foreign media "Dycrypt" today (17): We will conduct one or two wallet-to-wallet transactions in New York this month alone, and we will also use Bitcoin payment services like BitPay to conduct six transactions. To seven transactions.

Serhant pointed out that as more and more people enter the cryptocurrency field, it will become a potential new way of saving. In the future, banks should also be more satisfied with encrypted assets and begin to provide loan services, but that time has not yet come.

NFT signs real estate contract

In addition, Serhant also mentioned that non-fungible tokens (NFT) may have important applications in real estate in the future. He believes that the current real estate contract is still signed on the Internet in PDF format, and then emailed in the same way as in 1996. We have not made technological progress in the way of buying and selling real estate.

He predicts that blockchain technology will change this. In the future, the contract may be signed in the form of NFT. He added: We may not call it an NFT, and you will still feel that you are signing a contract. The holding, recording and tracking of the contract will be carried out on the blockchain in the form of NFT, which opens the door for large-scale investment and luxury real estate ownership. In the future, the entire transaction can be executed using NFT, and it can even be used to collect rent.