Real estate tokenization in NFT

Rent out property with NFT.
Invest in the best NFT assets and earn on rent without having your own real estate

Project idea

BrickFi is based on a simple but very promising idea. The platform tokenizes real estate lease agreements by creating several NFTs and puts them up for sale. Thus, any Internet user can buy these NFTs and earn on rent, or wait a while and sell them for speculative profit.

At the same time, BrickFi takes care of everything related to finding suitable properties, preparing them for leasing and issuing NFTs. BrickFi will also manage the property during and between rental periods.

Tasks and challenges

Developing a project like BrickFi involves two things: creating smart contracts for issuing NFTs and creating a website/app where users can buy and sell NFTs. This may seem like a simple task, but in fact, the implementation of such a project has several difficulties:

Ensuring the
security of smart contracts

Integration with Strip to securely accept payments in USD

Integration with Circle to accept payments in USDC

Polygon blockchain

Creation of an automatic matching mechanism for trading NFTs

Creating an Intuitive User Interface

Integration with Docusign for signing legal documents

NFT release algorithm

The process of creating an NFT takes place without the participation of inverters. It is provided by BrickFi Inc, which owns and operates the BrickFi trading platform and manages all tokenized real estate on the platform. The algorithm of this process is as follows:

Object search

BrickFi Inc is looking for a suitable property

Conclusion of an agreement

A lease agreement is concluded with the owner of this property, which implies the creation of a new company under the auspices of BrickFi Inc.

Issues NFTs

The new company issues, for example, 1,000 NFTs, each of which represents the ownership of 1/1000 of the ownership interest in that company. At the same time, these NFTs do not give the right to buy or sell real estate, only to receive a share of the income from renting it out.

Attracting investors

BrickFi Inc adds these 1,000 NFTs to their platform and sells them to inverters who can hold them for a share of the rent and/or sell them over time for a higher price.

Warframes

We then proceeded to create several variants of Warframes - low-detail sketches that show what should be on the website page and / or mobile application screen.

They help to imagine how everything will look on the user's side and thereby understand how convenient navigation is and what else needs to be added to make the design appeal to users.

Interface design

When the warframes are ready and agreed with the customers, they end up on the table of designers, who, on their basis, begin to develop a full-fledged user interface design, choose colors, create icons and buttons, write texts, and more.

This design allows users to focus on important points and creates more pleasant perceptual associations.

Poppins Medium

This design allows users to focus on important points and creates more pleasant perceptual associations.

Information architecture

To make the BrickFi platform as user-friendly as possible, we have developed an efficient information architecture for it.

Block diagram

A block diagram where the system of organizing navigation and search, naming and communication between all elements of the system of the future project is visualized.

System optimization

Information architecture helps optimize the system and user flows. It also greatly helps designers and programmers in the next stages of development.

Result

As a result, we have a simple and convenient platform that allows any user to invest in rental property using NFT. At the same time, the location of the user and the property does not matter.

BrickFi is a global marketplace available to everyone.