Company behind Florida NFT home sale has another property ready to go

February 14, 2022, 4:55 PM UTC

Just days after selling a five-bedroom, 3.5 bath home near Tampa as an NFT, the company behind the historic use of non-fungible tokens is ready to do it again.

Propy, which managed the online auction and transaction, plans to sell a condominium on the blockchain next. The listing will go live on March 2.

Right now, there’s a sense of mystery around the company’s next listing. Propy hasn’t announced features on the condo or even where it’s located, specifically—though this property, too, will be in the Tampa area. The company says its value is between $200,000 and $300,000.

Propy plans to list 10 more properties-as-NFTs around the country. It says it’s looking for unique homes, since NFT enthusiasts consider the tokens collectible.

The company’s first auction netted 210 Ether, the equivalent of $653,000 at the time of the sale, for the home in Gulfport, Fla., located at at 6315 11th Ave. S. The winning bidder received a digital token that, recorded their ownership of a limited liability company on an online ledger. The LLC’s only asset is the house.

More than 7,000 potential bidders expressed interest, but only 50 went through the process of verifying their identity. And only two had sufficient funds in their digital wallet.

Still, the sale price was a tremendous premium for the owner, who paid just $250,000 for the house in January of 2021.

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