First-ever NFT Auction of a real apartment will happen on June 8

History will soon be made as the very first non-fungible token (NFT) auction of an actual apartment will begin on June 8, 2021.

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The founder of TechCrunch will be auctioning off his apartment in Kiev, Ukraine, on a real estate platform as a non-fungible token (NFT).

First-ever NFT Auction of a real apartment will happen on June 8 01

Michael Arrington, the founder of TechCrunch will be offering us his modern, brand new, one-bedroom apartment as a purchasable NFT on June 8. The NFT will be sold on the Propy real-estate platform, and will mark the first time in history an apartment has been sold as an NFT. Propy has already carved itself into NFT with the first-ever blockchain-based real estate sale back in 2017.

As for the apartment auction, it will run for 24-hours, and the listing price begins at $20,000. With the purchase of the apartment is an NFT of the art piece that is one the wall, and a printed cyberpunk picture that comes with licensed rights. Once the cryptocurrency payment has gone through to Propy, the auction winner will receive legal papers already signed by Arrington and that have been drawn up by Propy's lawyers for the transfer of the physical ownership of the apartment as well as the NFT.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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