Last week, we discussed the role of NFTs in architecture, briefly discussing the potential they have in the property world. Here’s a little bit more on why that could be beneficial.
Real opportunities in real estate
In a recent cover story by The Edge, the CEO and co-founder of Meta Universe Solutions (MUS), a local enterprise solutions provider that deals with Web3 services spoke up on the potential of NFTs in the real estate industry.
The co-founder of MUS, Ray Chung, had said that the immutable nature of blockchains that allow for smart contracts is particularly relevant when it comes to physical real estate.
Khalid Gibran, the CEO of MUS, added that owning a real estate NFT can also “elevate a person’s social status”, according to the article by The Edge.
The Edge continued to report that Malaysia’s property industry has been suffering from a massive oversupply in the past few years, citing that there were 205,517 unsold property units in Malaysia in Q3 of 2021.
Both Ray and Khalid from MUS believed that real estate NFTs could help with the situation in the sense that they could accelerate the transaction process.
The concept of NFTs being used in real estate isn’t new, of course, but it hasn’t exactly been put to use in Malaysia. However, there seems to be quite a bit of interest in the concept.
The legality of applying NFTs to the local real estate market is still in question, though. The lack of regulations and clarity on the subject might make players in real estate hesitant to take the leap.
With how trends are moving within Web3, though, we’re sure it won’t be long before we see some further innovations in the industry.
Southeast Asia’s first NFT film?
Rompak is a Malaysian telefilm that will make use of NFTs. Produced by INTRADAY and 4ward Pictures, the movie stars actors such as Zizan Razak, Tony Eusoff, Daiyan Trisha, and more.
News about the film first came out in January this year, but it finally premiered on Astro First earlier this month.
According to a post by Astro First on June 21, Rompak managed to climb the charts and was crowned the Number 1 film on its platform for five consecutive days.
Kicking off football NFTs
Even if you’re not a football fan, you might have heard of Safee Sali, a Malaysian footballer before. If you haven’t, here’s a quick rundown of why you should—this 38-year-old has played for Malaysia 76 times and is our country’s all-time leading goal-scorer in the AFF Championship with nine goals.
Last week on June 22, the striker launched a series of NFTs, called SEPULUH, which is Malay for the number 10, AKA his current jersey number. As you might’ve guessed it, the series consists of 10 limited edition collectables and have gone on auction on OpenSea.
This collection was launched in collaboration with Prime Sports NFT, a sports NFT division under Prime Sports International.
According to an article by The Star, Safee had said he was keen on exploring the digital world during the Movement Control Order (MCO) period.
“My vision for SEPULUH is to capture my fondest memory in the Harimau Malaya jersey via digital art and enable fans to own a piece of my story as a collectable,” he had said during the launch.
The Professional Footballers Association of Malaysia (PFAM), of which Safee is the president of, also plays a role in the SEPULUH NFTs.
A portion of the auction’s proceeds will be donated to promote and protect the interest of professional footballers in Malaysia.
The NFTs were designed by a 20-year-old artist from Penang, Nicholas Chuan. Although it was his first time working on a collaborative NFT project, he has worked with many recognisable names in the past including Red Bull, Liverpool, UEFA, and more.
He had tweeted that Safee Sali is his childhood hero and also shared images of the launch event.
According to the NFTs’ description on OpenSea, the SEPULUH NFTS commemorate Safee’s historic goal in the 2010 AFF Suzuki Cup Semi-Final match against Vietnam. Resembling a card, the NFT is also signed by Safee.
Beyond the artwork, holders of the NFTs will also get unique benefits, such as an exclusive opportunity to share the pitch with Safee.
The auction ends on July 11, so there’s still time if you’re hoping to play some football with the legendary footballer himself.
- Read other articles we’ve written about NFTs here.
Featured Image Credit: INTRADAY / Prime Sports International / Rompak