Asset-Backed NFTs with Homecubes

The blockchain is changing the world, businesses and markets quickly. There are many applications such as cryptocurrencies, asset tokenization and NFT that all have come into existence with the blockchain network. The decentralization nature of the blockchain will make all markets quite transparent by making all data available to the public and cost efficient by eliminating intermediaries across markets.

NFT or Non Fungible Token as an application of the blockchain technology has been introduced to the market back in 2022 and raised in popularity quite fast. Even though the market slowed down, due to the downturn in the crypto market, the future looks bright, as NFTs aim to make the market more efficient. 

What is an Asset-Backed NFT?

Almost all digital or physical assets can be tokenized within a blockchain network. A ton of wheat, a barrel of oil, an apartment in Dubai Down Town, a valuable painting or a database can all be tokenized and stored in a blockchain network. By tokenizing such assets, each token represents the whole or a fractional of that asset. That is what we call Asset-Backed NFT or a NFT that represents a RWA or real world asset. 

Tokenized tangible assets that are basically a tangible asset that is converted to one or multiple NFTs, that is changing the landscape of many sectors including the real estate sector. Nowadays, a residential or commercial property can be converted to multiple NFTs and traded across a blockchain network. Such NFTs not only makes the fractional real estate ownership possible for small-scale investors, but also improves the transparency, liquidity and cost-efficiency.

What is Homecubes doing?

Homecubes as the leading platform in the UAE is working hard to make Dubai fractional real estate ownership possible by utilizing blockchain network and asset-backed NFT. 

Dubai is one of the most popular destinations for both tourists and businesses across the globe. There has always been a high demand for residential and commercial buildings in Dubai that makes Dubai a very popular destination for real estate investors. However, the first barrier to enter into the Dubai real estate market, particularly for small-scale investors, is the cost of buying a property in Dubai. The real estate market in Dubai has experienced a constant and robust growth over the past two decades and now it costs investors a fortune to buy an apartment in popular suburbs. Homecubes is planning to pave the way for interested investors to invest  fractionally in the market to enjoy capital growth as well as rental income.

What is next?

Homecubes team is working hard in parallel to develop the appropriate smart contracts with a reputable blockchain network as well as cooperating with Dubai government officials like VARA (Virtual Asset Regulatory Authority). Our main and only goal is to not only provide a secure and easy to use platform to trade asset-backed NFTs, but also meet all UAE regulations on asset tokenization. At this stage, we are doing the hard work to make things easier for investors in the near future. We are confident that a reputable and secure platform with perfect UI/UX design will be up and running in the short term to revolutionize the Dubai real estate sector.

Risks and Concerns

Asset-backed tokens are emerging as a popular application of blockchain and NFTs. As people become more familiar with the blockchain network, how it works and what values it is adding to different markets like real estate, the concept attracts more attention from investors across the globe. However, despite the benefits of asset-backed NFTs, there are serious risks like fraudulent NFT projects, so you as an investor must be very careful about this for the sake of safeguarding your money.

Always look for legitimate projects by reading through the project whitepaper, check with government officials to make sure the tokenization platform and the entity is real and has got all required governmental permits and allowances.

Final words

We are at the edge of a revolution in the digital world. With blockchain, there are many changes that are about to happen, so we must get prepared in order to not miss opportunities.

In the investment sector, the blockchain is opening new doors, so it’s quite a good idea to make yourself familiar with blockchain, how it works, its benefits as well as the risks. 

Homecubes, as the leading platform in the UAE, is working closely with the Dubai government to pioneer the DeFi real estate investment in Dubai and UAE.

Don’t miss out on this exclusive opportunity! Homecubes is opening its doors to early adopters with a limited-time chance to secure a whitelist spot.

Be among the first to join us and build your NFT real estate empire!

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