NFTs Not only for Artworks!
Dear Millimeter Community
Millimeter is an NFT CAD Project.
NFTs have exploded in popularity in recent months as a way of creating scarcity for digital artworks, which can be endlessly duplicated and are therefore difficult to buy or sell. The artworks are “tokenised”, which means an NFT is created that acts as a unique digital certificate of ownership that can be traded.
But NFTs are not limited to artworks only. Real estate can also be NFTed as well.
Today, we would like to share an example of it.
The Edersheim Residence, a New York house by Paul Rudolph, hits the market as an NFT. The Edersheim Residence at 862 Fenimore Road was built in 1958. Owners Maurits and Claire Edersheim repeatedly commissioned Rudolph to renovate the property in 1982, 1989 and 1991, with Rudolph designing its pool house, entrance porch and overhauling its interiors.
After a gut (interior) renovation, real estate agency Houlihan Lawrence listed the historic house as the first “Art as Architecture NFT” on the crypto art marketplace OpenSea.
The Edersheim Residence is supposedly the first actual building to be sold as an NFT. Whoever purchases the Edersheim Residence as an NFT, will only get the home, not the intellectual property or photo rights.
Seems very clear that NFTs are not only limited to artworks only, but expanding to more industries like real estate.
As such, these expansion of the NFT to other industries such as real estate, mentioned above, can create greater synergy in the Makers Market Platform.