How Web3 Technology Is Revolutionizing The Real Estate Industry? Web3 in real estate is superior to traditional real estate in many ways. Using blockchain, NFTs, and other web3 technologies, it lays out a decentralized network dispensing with the requirement for a third party. This can enormously diminish the additional expense for investors who spend on real estate agents and brokers. It also put an end to tedious paperwork.
Using the following ways, the web3 real estate technology is going to transform traditional real estate, Blockchain-Based Smart Contracts A smart contract is an automatically executing computer program that characterizes the details of an agreement between a buyer and a seller. The terms and conditions are stored in the blockchain networks as codes. Every documentation like registering, offer sheets, closing documents, etc can be converted into digital smart contracts that are identifiable and irreversible.