Tokenization is already a reality for many sectors and, little by little, it is beginning to gain space in a traditional market, but at the same time lacking in innovation and agility: real estate. The first projects with crypto assets are beginning to emerge, stimulating new businesses and possibilities for both the companies that are part of this ecosystem and for customers. However, contrary to what many think on the subject, the tokens are not only to speed up the negotiations that involve the sale of real estate in the plant. On the contrary, what is observed in Brazil is the possibility of giving new uses to properties that already have an owner and that are not for sale.
To understand how this works, it is first necessary to list a few concepts. According to Marcelo Magalhães, CEO of Ribus, in the Brazilian market, the tokenization process, that is, the transformation of a physical asset into a digital assetdoes not guarantee the physical property of the property; there is a movement to create a regulatory framework that can make this possible in the future. Thus, the tokens that gain space here are utility tokens, which even have economic value, but whose main objective is to serve as a gateway to different products and services of this ecosystem – which would also include properties.
“This distinction is important because while the token does not (yet) grant the right to own property in Brazil, as it does not serve as the main currency of negotiation, it can be used as a right to use a certain house or apartment Thank you. to the NFT concept. This means, in practice, that a certain cryptoactive can grant the right to use a property to its owner and within the rules established in the Smart Contract that each token carries with it. It is almost like a short-term rental, but without the presence of intermediaries‘, said.
For Magalhães this brings two essential advantages to the real estate market. The first is to mobilize the sector, since idle properties can be used for different purposes, generating income for their owners and comforts for those who have the tokens that give access. The second benefit, and perhaps the most important, is the creating a culture that encourages innovation and offers new ways of doing business. By guaranteeing access to exclusive properties for their vacation or weekend trip, the person would see value in the tokens, which, in turn, would place this asset in a prominent position in the organizations’ strategy.
“Imagine, for example, a beautiful apartment in Copacabana, Rio de Janeiro; the owner only uses it two or three times a year. You can tokenize it and whoever acquires this token has the right to use it for a certain time. Or even an industrial zone, which can tokenize part of its structure for other companies that want to use the space. And even a farm or land, which can tokenize the space for holding events, and even cover other services. As you can see, the possibilities are endless“, he claimed
Magalhães believes that the tokens serve many functions, and different sectors have already noticed this feature. In the case of the real estate market, they represent a great opportunity to debureaucratize the sector and could bring more agility and security to business.
“If the right to property continues to be a nebulous subject within Brazilian legislation, there are spaces for this ecosystem to innovate and present all the benefits inherent to digital assets, including the occupation of properties that are idle. It’s a new model where everyone has a lot to gain”, he concluded.
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