Practical applications

Property ownership through NFTs - Non-fungible tokens, or NFTs are not limited to art. They can also be efficiently used in real estate by tokenizing properties. Its primary use case is providing ownership rights. As each property is unique and cannot be traded or exchanged for another property, they are non-fungible and, thus, can be converted to a non-fungible token.
Property management - Web3 promotes secure data sharing and simplifies rental collections and remittances to property owners, enhancing operational efficiency, and promotes better decision-making by generating richer data.
Loan and mortgage securitization - Loans and mortgages can be digitized utilizing web3. It can be programmed to contain appropriate data like ownership rights and loan payment history, diminishing the chances of outdated data. Payments can be collected and distributed to beneficiary holders and broadcast real-time updates to regulators.
Land and property registries - Web3 substitutes outdated paper documentation with digitally registered details on blockchain. Thus, the data entered into a blockchain cannot be manipulated, deleted or lost, which ensures maximum security. Web3 in real estate also facilitates speedy peer-to-peer property transfers.
Investor and tenant identity - It streamlines background checks of tenants and investors via blockchain-based Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, reducing costs and increasing security.

Benefits of Web3 in Real Estate

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Blockchain-based smart contracts - Smart contracts can remarkably speed up the whole transaction process by eliminating interventions by bankers, brokers and lawyers.
Transparent and secure property listing services - Users can engage in publicly available investments wherein each transaction detail is immutably recorded and kept safe.
Accessible property investment - Several people can together purchase the tokens of a specific property and co-own it, promoting higher liquidity. Fractionalization in real estate is not new, but web3 streamlines the process and attracts a much wider group of participants.

Liquidity - Unlike traditional real estate investing and other crowdfunding platforms, a property token can be sold anytime via secondary markets with no lock-up periods.
Security - Property ownership is represented on a digital ledger, which cannot be changed or hacked, instead of being represented on paper documents stored in data silos.
Lower minimums - Through tokenized fractional ownership, you can gain access to real estate investments for as little as $50.
Faster investment process - Investing in tokenized real estate takes less than 5 minutes. All legal documentation, ownership deeds, title, etc. is stored on a blockchain.
Daily rental income - Thanks to the low fees and enhanced speed of blockchain technology, you no longer need to wait 30 days to receive a bank transfer.