What Do NFTs Have to Do With the Construction Industry?
By Ryan C. Robinson on August 23, 2023
As written in CE This Week, a weekly newsletter published by Construction Executive magazine.
The news cycles of the last few years have been scattered with headlines about blockchain technology, nonfungible tokens (NFTs) and cryptocurrencies. From the “Bored Ape Yacht Club" NFTs to the rise and fall of crypto-trading platform FTX, there has been no shortage of crypto-related headlines.
In this article, Brouse McDowell attorney Ryan Robinson outlines how a commercial real estate developer is deploying cryptocurrency in the real estate and construction industry for the first time. He examines how Alterra Worldwide used Ethereum Blockchain to create a token it then sold for fractional shares in a 24-story multifamily residential building, a process called “tokenization.” He also dives into what you and your organization need to know about cryptocurrency and tokenization moving forward.