Tokenized Real Estate: Solana NFT Home Sells for $246,800
The tokenized real estate industry is growing, and Homebase has successfully tokenized its first single-family rental property in McAllen, Texas.
Through smart contracts, the company managed to generate $246,800, including $11,800 allocated for maintenance and other issues.
Homebase took seven months to ensure its real estate offering complied with SEC regulations and could be marketed to both retail and accredited investors, raising a total of $246,800 from 38 investors, of whom 30 were non-accredited.
The startup opted for Solana over Ethereum and Polygon due to concerns over rising ETH gas fees and blockchain bridges that resulted in disappearing funds for investors.
The Bay Area and other areas of the US remain out of reach for many due to property prices, making tokenized real estate an attractive option.
READ MORE: Blockchain Gaming Executives Predict Mainstream Adoption of Web3 Technology
Homebase believes its product can make money and help homeowners and investors while ensuring compliance with SEC regulations.
The Solana tokenization of the McAllen single-family property raised approximately 19%, with 80% of the equity remaining with the property owner and Homebase retaining 1%.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
