Imagine you are thinking about a home purchase in 1996. Simultaneously, you’ve been hearing about this new thing called the Internet and the World Wide Web.
You don’t pay much attention to the constant drip of stories, but eventually you realize it isn’t going away and you should understand what the Internet is and how it’s relevant to your world.
Fast forward 26 years and we are on the cusp of another revolution.
You’ve been hearing about cryptocurrency, bitcoin, NFTs, crypto mining, and even virtual real estate.
What is all this stuff and how will it change your life? Rich Hopen, of COMPASS, expressed these thoughts directly with the COMPASS community and in his Crypto News for Realtors newsletter. COMPASS principal agent, Susan Vanech, shared with Rich that she was the first real estate agent to list a home in Connecticut for cryptocurrency in 2017 and is now the only agent in Connecticut to list a home with an NFT attached. Rich reached out to Susan as he leads the COMPASS crypto and real estate group that explores, educates and informs agents about the crypto world.
Rich was curious why Susan chose to have digital art created as an NFT and included in the sale of a physical property. “I was inspired by the conversations happening at Art Basel in Miami among artists, tech geeks, family offices and even the cannabis world. There was such a variety of audiences and participants that it felt impossible to ignore the potential crossover of NFT’s into real estate,” Susan shared. “Days later I sat with my 17-year-old son and asked him to teach me everything he knew about NFT’s and how he could imagine integration into what I do in real estate as an investor as well as a strategist for sellers and buyers in unique markets.”
Susan was most fascinated by the concept of the Phygital world. At the art show, she saw the digital art of a jacket created in memory of Kobe Bryant. Steps away, the physical jacket was displayed on a mannequin. Susan’s first thought was to bring some digital art as NFT’s into homes as staging but she knew there was more that could be exciting to explore. After collaborating with her son, they engaged a digital artist to create a piece of art that is essentially a 3D digital rendition of the home, had it “minted” and listed it for purchase using Ethereum.
Rich is curious to know if the home will draw a new audience based on this unique exposure. Susan shares the home did in fact see a resurgence of interest and requests to tour the home, but ultimately, the buyer will purchase the home using US Dollars with the NFT ownership transferred as well. This will be Connecticut’s first Phygital real estate transaction!
To learn more about creative marketing solutions or to share your NFT and real estate stories please contact Susan Vanech, she continues to be curious!
Susan Vanech, Real Estate Strategist