Propy (PRO) Sold The Apartment For The First Time Through The NFT Auction

The real estate company Profy has completed the first auction for the sale of real estate NFT in Kyiv. Devon Bernard, an engineer from San Francisco, bought an NFT apartment in the village of Svyatoshino for 36 ETH (about 93,000 US dollars). Devon did not say what he would do next with this property. Earlier it was reported that this is the apartment of TechCrunch founder and crypto investor Michael Arrington. Arrington purchased an apartment in Ukraine in 2017 through the Proxy real estate platform, using Ethereum and smart contracts to settle the transaction. The starting price of the apartment was $20,000.

Ethereum upgrade may boost ether prices In a conversation with CoinDesk, Arrington said that this move is not just a trick of the NFT. One day, this may open the door to new lending and borrowing schemes in the world of decentralized finance (DeFi). Proxy is supported by blockchain investor Tim Draper and claims that he has already made transactions worth more than $1 billion through his online platform. Once President Volodymyr Zelensky approves the law passed by Ukraine’s Parliament on September 8, cryptocurrency will be legal to use in the country.


Miriam Bozini

Finance and Business Reporter