VIDEO: Can Real Estate and Web3 Work? – Sanjay Raghavan of Roofstock

Let’s talk real estate.

What about the intersection of blockchain and real estate? Is it just a sea of ​​buzzwords and hype like Web3, NFT and over the moon, or is there something substantial here?

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This week on the Invezz podcast, I hosted Sanjay Raghavan, leader of Web3 initiatives at Roofstock, a real estate investment marketplace.

Roofstock this week closed the first NFT sale of its web3 subsidiary, a property in South Carolina, USA.

I never thought I could buy and finance a home with just a click instead of going through the tedious and tedious traditional mortgage and mortgage process

The buyer, a real estate investor named Adam Slipakoff, was involved in the transaction.

This struck me as the real estate sector has long been considered ripe for blockchain disruption, but it is a bit slow compared to other sectors. Sanjay and I discuss why this is so and how regulation still means many staggering scenarios – such as, for example, co-ownership of houses sold via blockchain is still a long way off.

The same goes for mortgages that no one has yet managed to break. We cover many topics in this module, but of course rising mortgage rates and what they mean for the property market is one such topic.

The same goes for the US dollar, the seemingly invincible currency that crushes the rest of the world. Sanjay and I talk about what this means for investing, particularly property investing, and how it can protect investors.

According to Sanjay, it took ten months of work for Roofstock to make the sale of NFT possible. It’s scary enough when you think about all the legal, regulatory and advisory work that went into making this possible behind the scenes.

But the module got me thinking – what does the future of real estate look like? The interesting thing about this transaction is that it happened on the blockchain, but didn’t really have much to do with crypto in the traditional sense. In the end, a house was simply bought in USD.

Sure it was tokenized as NFTs and the USD was on chain as a stablecoin but ultimately if it works and streamlines the process what’s wrong not?

So much about crypto is misunderstood. There are so many aspects of this space that are nothing more than money grabs, pumps and dumps, and totally unnecessary. But it’s those kinds of goals – making a problem really simple, like the arduous process of buying a house – that’s what excites me about this.

We covered a whole range of topics here, but it was a fun night. Anyone interested in real estate or technology should find something they like.

As always, please send us your comments.

Continue the conversation on Twitter with @InvezzPortal, @DanniiAshmore and @rsonchain / @Roofstock or visit https://onchain.roofstock.com/ for more information.

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