The buzz surrounding cryptocurrency and the blockchain is hard to ignore. Many speculate on whether digital currency is here to stay as it continues to ride the wave of an up and down market, but the blockchain technology that supports it has the potential to transform many verticals, including real estate.
The technology has already presented tremendous opportunity within the art world through NFTs, or non-fungible tokens. In 2021, Christie’s auction house sold Beeple’s Everydays: The First 5000 Days for $69,346,250. It was the first NFT based purely on a digital work of art ever offered by a major auction house. The sale also marked the first-time cryptocurrency was accepted at an art auction.