Simply put, it’s a highly secure, globally verifiable digital token proving ownership of an asset. It’s like a scanned version of your house deed. Only better, and far more secure. It can include many details of the property, including all previous owners and transactions (so you can verify any income claims), pictures and legal descriptions.
Governments around the world are exploring many ways to use NFT’s and register ownership of everything from cars and company’s, to homes and medical records.
NFT’s should do for real estate and asset ownership, what Uber and AirBnB did for travel and tourism. Digital is here to stay. Securing, and trading ownership electronically, has become as natural as sending a text message or email. NFT technology is now the fastest, most secure way to do it. So, you’d better care.. Unless of course you’re still wax sealing envelopes or sending faxes?
Is it safe?
It’s as safe as houses. Unlike most crypto “investments”, NFT’s are not a get rich quick scheme. They’re a way of proving, and trading ownership. Instant. Pure, and simple.
Our NFT’s represent the worlds oldest asset - dirt. We’re not interested in pictures of Apes and we don’t love swing trading crypto. We love Real Estate. Homes and Habitats. A place to live and work. We feel there’s always a market for that.
How Secure are NFTs?
We feel NFTY offers a more secure and efficient way to record property ownership than traditional land registry methods.
When NFTY mints an NFT on Cardano, it’s done so using a specific policy ID, as opposed to a smart contract. This binds the NFT to the rules and details set in that unique policy. The policy ID also serves as a unique identifier for that particular type of token, allowing anyone to verify the authenticity and ownership of the NFT.
As each property on the NFTY platform is represented by an NFT collection with a unique policy and policy ID, when the fractionalisation of the property is complete (for example 100 “pieces” of a property with an initial sale price of £1000 each are created, for a £100,000 house), the policy is irreversibly locked to protect the value of the asset.
This prevents additional NFTs from being created, diluting the value, or changing the details of the property, such as the land registry number, address, and physical details such as floor area.
The policy ID of each unique property is shown in the listing on the marketplace and can be independently verified online prior to purchase, adding even greater security for the buyer.
The use of NFTs for property transactions provides an immediate, transparent and immutable record of ownership and history. The information is permanently recorded on the blockchain and cannot be altered, helping prevent issues such as fraud.
Are the listings verified?
Yes. Before anything goes live on the site we kick the tires. Hard.
This is all very new. NFTY is breaking new ground so it’s vital we make it safe and secure, right from the get go, or it simply won't work.
Our verification team check the legal owner of the property, whether any money is owed on it and whether there is a legal right to sell. We then need to verify the owner, with detailed identity checks and only then can we create the NFT’s which represent the fractional ownership of the property or project.
How does it work?
All NFT’s listed on our site are available for sale.
NFTY’s trust partner will hold the property in trust, under strict conditions, and will authorise the issuing of NFT’s to represent a share of each property, as per the listing details. Some properties offer as few as 10 NFT’s, others (often those of greater total value) offer many more.
We have verified the listings and they are either “Unconditional” (you buy a share of the property immediately), or they are available to “Pledge” (you promise to buy a share of the property and when all the NFT’s are pledged, you get the NFT and title).
Once you own an NFT, if it generates income, it will be paid automatically to your digital wallet as per the terms of each sale. Usually per month, or quarter, after any maintenance and management expenses are deducted. If there is no income (the property is not tenanted) then you may be charged maintenance and management expenses as per the listing. Each listing is different, so check the terms carefully before purchasing.
What is “Cashflow4Crypto”?
Monthly, or quarterly income from your NFT property can be sent to you automatically, as part of your NFTY Smart Contract.
With instant processing, and some of the lowest fees on the planet, NFTY uses the Cardano network to save you time and money. Delivering your Cashflow4Crypto where you need it the most - a secure, private, digital wallet.