Developers tap NFTs to promote projects, as property, cryptocurrencies and the metaverse converge

Developers could use NFTs to showcase a property, create an exhibition or virtual twins of physical projects in the metaverse, Colliers executive says. No Hong Kong or China property firm is currently using NFTs, but New World Development’s Adrian Cheng has recently invested in virtual real estate. — SCMP

Property developers are turning to art non-fungible tokens (NFTs) to generate interest in and to serve as promotional tools for their projects, underscoring what analysts said was a natural fit between real estate, the metaverse and cryptocurrencies.

With NFTs of homes, developers can showcase their project, develop an emotional connection between buyers and owners and their properties, and even find a new avenue of revenue generation.