While NFTs continue to dominate in the news, many are still left asking themselves how digital goods will add value to the physical world. SumoTex is the perfect example to begin understanding NFTs potential as applied to the physical and virtual world real estate.
While traditional private equity firms charge about $50,000 USD per subscription, SumoTex NFTs are only $150-200 USD. The NFT’s rarity determines the APR (Annual Percentage Rate) that will be distributed amongst the property investors, but it could be up to 25%. The higher the rarity, the higher the dividend and profit distribution.
In addition to offering NFTs the fractionalized ownership of individual properties SumoTex also offers NFTs that represent owning a fraction of a fund pool. This is a way of diversifying ownership of commercial property. When a SumoTex NFT represents a real-world property that NFT’s value is less volatile as a result of being assessed on the real-world value of the property, based on traditional metrics such as rental income and comparable sales.
SumoTex Entering GameFi with StarCrazy Bang: Buys a Planet
Now SumoTex is shaking up real estate in the Metaverse with their latest involvement with another dApp on IoTeX.
A DAO will be formed to create a community of players benefiting from this NFT ownership and to determine how their planet will participate in tournaments, mining, distributing rewards, and more.
SumoTex as the First Smart City DAO on IoTeX
SumoTex’s ultimate goal is to launch the first smart city DAO on the IoTeX blockchain. NFT holders will have the opportunity to collaboratively decide the future of the investments including the design layout of the architecture as well as voting on potential projects.
The Sumotex team is also tackling the issues of sustainability and energy consumption in the traditional real estate industry. Building owners often struggle to verify the accuracy of energy consumption tracking. SumoTex’s investment properties will integrate MachineFi-powered smart meters to track this data in real-time with 100% certainty.
Ultimately, SumoTex strives to build a smart city powered by MachineFi. Members of this DAO will receive exclusive access to physical airdrop assets, like free stays in hotels or discounted tickets to events.
Now with SumoTex’s virtual real estate in the StarCrazy metaverse, fractional ownership is opening more opportunities for investors than ever before. Both virtual and physical assets are being made widely available for anyone interested in the space. With a DAO structure, NFT holders will have the freedom and flexibility to shape real estate in the metaverse as they see fit.