This week’s round-up dives into the digitization of the real estate and construction industry, focusing on property technology, Web3 and non-fungible tokens (NFTs), and more.
- With hybrid occupancy dictating current working patterns, property owners turn to smart technology to optimize digital connectivity and reinvigorate workspaces. (Commercial Observer)
- Contrary to the traditional home buying experience, which involves a robust documentation process, Web3 is projected to offer a seamless transition of real estate assets from the seller to the buyer. (Himanshu Thakur, Outlook)
- Despite the shift in its value and continued volatility, cryptocurrency can now be used to purchase real estate in Miami’s luxury market. (Sarah Jansen, Cointelegraph)
- While blockchain technology and cryptocurrency demonstrate potential for the real estate industry, there are also use cases presenting its instability and in some instances, untrustworthiness. (Erik Sherman, GlobeSt.)
- With labor shortages and supply chain disruptions continuing to affect the construction industry, developers turn to modular construction and the technology behind it when building restaurants, hotels, apartment projects and healthcare facilities. (Dan Rafter, RE Journals)
- Challenges facing the widespread adaption of Web3 in the real estate sector is that the platform is currently very new and complex, and many governments are still exploring the legal implications of the technology. (Pooja Sitaram Jaiswar, Mint)