Citi calls out potential risks of crypto-backed mortgages and benefits of metaverse property

2022.06.30 06:55

Citi calls out potential risks of crypto-backed mortgages and benefits of metaverse property

Investment banking giant Citigroup (NYSE:C) has released research on how property technology could affect the housing market, mentioning virtual estate in the metaverse and cryptocurrency-backed mortgages.

In a report released Wednesday titled, “Home of the Future: PropTech — Towards a Frictionless Housing Market?” Citi said crypto, blockchain and property in the metaverse had the “potential to transform the traditional real estate market.” While crypto-backed mortgages could streamline the process of purchasing a home, many individuals have seen investments in metaverse property grow in the last two years.

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