1st digital property in Brazil has already registered over 400 owners

The Edifício Santa Cruz, the tallest building in Porto Alegre, located in one of the most traditional streets in the city, rua da Praia, houses the first digital property in Brazil.

The 32 square meters of commercial space has just reached 400 owners. That's just over 120 days after the start of the sales campaign.

To become digital, a property and its deed are linked to an encrypted token, which represents something unique and cannot be changed (hence the name "non-fungible") based on blockchain technology, the same basis as bitcoin and other cryptocurrencies.

Following the peer-to-peer (P2P) model, "person-to-person" sales in commercial rooms occur with a fractional subsystem directly from the netspaces wallet, which was the company responsible for issuing an NFT token with blockchain technology that carries the rights about the property.

"This property has drawn so much attention from the public because it is the first digital property in Brazil and can be transacted digitally with ease. With that, transactions arise that until then were not possible or economically viable, such as the case of buying and selling in small fractions", says the CEO of netspaces, Andreas Blazoudakis.

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