Roofstock is giving out NFTs to potential buyers as digital assets, providing them with the actual ownership of a physical house in South Carolina. Started in May 2015, Roofstock is a financial technology startup based out of Oakland and founded by Gary Beasley, Rich Ford, and Gregor Watson. This weekend, Roofstock sold an NFT housing property for a whopping $175K. 

Awesome. This #NFT house sold for $175k over the weekend. 🏡

Holding the NFT gives you ownership of the actual house in South Carolina. The company that made it happen is @Roofstock and you can view the traits on @opensea. 👏🏻 pic.twitter.com/B0xBGBgW6e

— rustybill.eth (@Rusty_Bill) October 17, 2022

NFT is a unique digital identifier recorded in a blockchain and used to certify authenticity and ownership, which can’t be substituted or copied.

What this means is that users can buy NFTs from this company and receive the ownership of an actual house or property in South Carolina, or anywhere else where they have their real estate property listings for purchase.

The company Roofstock opens an LLC for each and every real estate house or property. The LLC then takes complete ownership of these home properties. And Roofstock tokenizes these house properties and further mints an NFT that represents the ownership of these houses. 

People can visit these marketplaces on OpenSea and browse through these NFTs in order to buy these housing properties, all in just one click.

For this, the user can visit OpenSea and search for Roofstock housing property listings over there. There they will find all the NFTs to purchase these home properties. As of now, these properties are located in South Carolina, hence, all the listings are around this location.

Moreover, prior to partnering with Origin Protocol to launch a real estate project offering on-chain transactions, Roofstock raised $1.9 million in Series E funding in 2022.

Origin Protocol co-founder stated, “Tokenizing real estate creates frictionless transactions, simplifies the process, and makes information more readily available. The whole ecosystem exists for one purpose: so the buyer and seller can have a trusted relationship.”