NFT stands for “non-fungible token”: a unique asset that can be transferred, traded or sold on a blockchain. Think of it as a one-of-a-kind piece of art or a collectible coin but with the added security and transparency of a digital ledger that can’t be altered, reversed, or removed.
But how exactly are NFTs created on a blockchain and how do they work? Heck, what’s Blockchain? And what does this have to do with your real estate listing?
Let’s find out.
What Is Blockchain Technology and How Does It Work?
In a recent post, we discussed how blockchain technology creates a secure digital ledger of transactions. Entries to this ledger are tamper-proof, meaning that anyone with access to the ledger can view a complete and accurate history of all transactions.
To put it another way, Blockchain is essentially a more secure, decentralized bank vault. But unlike a traditional bank, where one main entity oversees and verifies all transactions, Blockchain shares this responsibility among thousands or even millions of users around the world.
It’s this diversity of oversight, transparency, and autonomy that makes Blockchain the most stable and secure storage facility ever created.
How Does Blockchain Secure Digital Assets?
Say you’re looking to build an asset portfolio. If all of your eggs are in one basket, it only takes one bad actor to potentially “crack the code” and ruin everything. This is why diversity is key.
Blockchain transactions are verified by millions of computers (or “nodes”), working together to approve each transaction on the network and “achieve consensus.” It’s virtually impossible to hack or alter Blockchain data without the majority of users noticing and taking action.
This is what makes blockchain technology so special and unique: it’s able to secure digital assets through a system that is inherently decentralized, transparent, and reliable.
The technology is already revolutionizing how digital assets are bought, sold, and licensed across various industries. And we believe that Blockchain will become the backbone of ownership and security as we move further into the digital era.
How Are NFTs Created and What Do They Have To Do With Real Estate?
An NFT is created when a user “mints” their unique asset onto a blockchain. That is, they publish a token that proves their ownership of the asset. This token is then assigned a unique identifier and stored on the blockchain’s decentralized network. From there, it can be transferred, traded, or sold to other users on the blockchain.
Before you create a listing, you’ll almost always have the property photographed by a professional. You might also use one or two main shots of the home’s exterior to drive your marketing efforts, such as using it as a featured image on the listing. This is the image you want to grab a potential buyer’s attention with as soon as the listing goes live.
With HomeJab, you can now turn that main image into a protected NFT in our marketplace, “real.” Only HomeJab photographers can choose to mint their images in our exclusive marketplace, which means that when you use one of our images, you’re not only getting a high-quality photo. You’re also getting a one-of-a-kind NFT that is verified and backed by the blockchain.
How cool is that?
HomeJab’s NFT Marketplace: real.
HomeJab just launched its new NFT marketplace in March, with original NFTs created by the best real estate photographers in the business. Our collection includes some of the greatest photographs taken by our expert photographers throughout their careers.
But the magic of our marketplace isn’t just that it’s built specifically for the real estate community. NFTs will be available for sale on the marketplace for any consumer to purchase. With every sale and resale, the original photographer is paid a royalty and is credited for their original work. Always. And the image keeps its integrity, uniqueness, and value forever.
Other online platforms just don’t offer this level of protection. It’s much easier to copy or steal an image from them. But not with Blockchain. As the asset’s creator, you can be sure that your work is safe and secure on our platform.
How To Order NFTs on real.
As for how this might affect your real estate listings, HomeJab is enabling their photo and video clients to turn any of their purchased images into an NFT. That way, when you list your property on the MLS, you can include an NFT with your listing to add an extra layer of security and protection.
To order one independently:
(1) Select the Order Custom NFT option in the nft.homejab.com header.
(2) Fill out the form and a representative will email you back with a custom quote and scheduling availability. It’s that easy.
To order one as part of a regular listing photoshoot:
(1) Schedule a photoshoot on our homepage.
(2) Choose the main image you wish to turn into an NFT after receiving your professional photographs.
(3) Email HomeJab your request and we’ll create it in our NFT Marketplace for an added cost. But we’ll send you a custom quote before you commit to anything, so there are no surprises.
To complete the purchase and receive your custom NFT:
When you’re ready, visit HomeJab’s NFT Marketplace and purchase your newly minted NFT.
Stand Out From the Crowd and Win More Clients With a Custom NFT
You now have the first and only NFT of the property, so you may “gift” it to your outgoing seller or incoming buyer, whichever one you choose.
Alternatively, you can keep it for yourself as a “token” of your work and start a collection.
If you’re really serious about making a statement, HomeJab can have your listing’s NFT printed, framed, and delivered to your doorstep. How cool would it be to have a beautiful, HDR-enhanced digital print of one of your listings framed and hanging on your wall? Or to gift this one-of-a-kind NFT to the new homeowner?
This service can be added to any HomeJab photoshoot for less than $200 (printing and framing included), with up to two weeks for delivery. Not too shabby for something so unique, amirite?
Even better — you don’t have to wait to sell your home to get an NFT. You can create one NOW, even if your listing isn’t live yet.
In fact, we encourage it!
To learn more about HomeJab’s “real” NFT Marketplace, visit https://nft.homejab.com.
And for more on HomeJab’s real estate photography services available nationwide, visit our homepage.