Although not a new thing, the real estate market is making waves in NFTs right now with the sale of a house in South Carolina. Roofstock, the seller, opened an LLC for each property in their “collection” and the houses are now being listed, with traits, on Opensea. While an interesting utility, critics are pointing out that you can lose your house by clicking the wrong link, and some deep-diving devs have noticed that the smart contract housing the real estate NFTs is what’s known as a diamond contract, which can be “upgraded” (i.e. changed) at any time. Though an interesting idea, it’s been tried before a few times, and there are reasons it just hasn’t taken off yet.
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