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Simplifying crypto, NFT and the blockchain’s impact on real estate

Confused about NFTs, the blockchain and Web 3.0 as it relates to real estate? Your questions are answered!

Today’s RealTrending features an exclusive interview with Adam Brown, vice president of business development for Propy.com. Brown removes the mystery and confusion surrounding crypto, NFTs and the blockchain and its potential impact on real estate.

Here is a small preview of today’s interview with Brown. The transcript below has been lightly edited for length and clarity:

Tracey Velt: The whole concept of Web 3.0 is nebulous. Can you break it down for me?

Adam Brown: Web 3.0 is the hot new buzz word, and what it really means is the next iteration of the web that’s built around blockchain. If you think about Bitcoin and cryptocurrency, when Bitcoin came out — I think it was like 12 years ago now — the cryptocurrency aspect of it was intriguing, but people started to take notice on the blockchain that it was built on. Now, Bitcoin’s not a great example of blockchain because it’s very siloed, that Bitcoin blockchain is only used for the purpose of monitoring and time stamping and transacting currency of Bitcoin to each other.

But the blockchain was the first time that we could take a transparent, digital ledger or database and see that in a way that can be used across multiple platforms. And so if you look at Web3 and if you look at the Meta, virtual reality and augmented reality, the way blockchain is implemented, the way we look at interacting with the web, that’s Web3.

In real estate and brokerage right now, you’re hearing a lot about the Metaverse and that’s the forefront of Web3. But think of Web3 as the next iteration of Web2, but built around the blockchain with the ability to transact with crypto easily and then to dig deeper into some Web2 aspects.

RealTrending features the brightest minds in real estate. Twice a month, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch. 

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