What are NFTs with a ‘Utility’ status?
Saw an NFT on OpenSea that had a ‘utility’ category but also said it was a solution to buying real estate. How would this even work?
Would people buy the NFT and then sell it, taking profits in Fiat and buying property?
Would they sell the NFT to another seller accepting NFT/ETH as payment for their home?
It also mentions that the NFT could eventually unlock a multi-million dollar estates (The Hamptons, Luxury Miami/NYC condo, global properties etc.), for like-minded people who are 'seeing the opportunities of NFTs’
Kinda interesting but not really understanding if one would use the NFT to purchase homes without the need to involve traditional banks/lenders and just purchase directly from the seller. Is this a rejection of banks altogether to buy homes basically in cash, or ETH?
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