Origin Protocol and Roofstock have announced a new marketplace for single-family rental homes that can be bought and sold through non-fungible tokens on a blockchain.
The platform, Roofstock onChain, is set up to accommodate payments in USD Coin for digital objects, or NFTs, representing real homes. (USD is a type of stablecoin that has a one for one exchange rate with the U.S. dollar such that it doesn't have the volatile swings in values other cryptocurrencies have.) Ownership is recorded on the blockchain, which serves as an immutable ledger and is being increasingly used in the secondary market for debt.
The partnership between the technology company and single-family rental firm started off small with a couple of listings, but eventually aims to sell real estate through non-fungible tokens on a broader scale than others have in the past.
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