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Land ownership goes digital with NFTs in India

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Web3 startup Airchains has teamed up with West Bengal's New Town Kolkata Development Authority (NKDA) to enhance transparency and security in land ownership. The partnership aims to leverage the power of blockchain technology to track and record land mutations spanning 27,000 acres (≈109 hectares). The initiative will introduce 500,000 NFTs deployed on Polygon Supernets. That’s right, they’re swapping old-school paperwork for digital tokens, paving the way for a whole new system of fractional property ownership.

Founded in 2022, Airchains is about equipping users to dive into the world of blockchain. They offer snazzy tools for deploying, building, and scaling blockchains, and even help you develop dApps and NFTs. The UAE-based startup has previously collaborated with several Indian governance bodies to implement blockchain solutions in various sectors.
 

Good news

So, this collaboration definitely brings good news for those individuals who are looking to buy land in Kolkata's New Town. Now, instead of dealing with piles of paperwork, you’ll get NFTs as proof of land ownership. The new system called NKDA will replace the multiple-department handling and provide all necessary services. These measures are poised to improve land transaction efficiency, reduce the risk of fraud, and bolster the overall security of land ownership records.

Sandeep Nailwa, Polygon's co-founder, noted that such real-world use cases are bringing  blockchain technology closer to the mainstream. This collaboration is a big milestone in the Indian Web3 sector, and it’s showing the true potential of blockchain in transforming existing systems for a digital future.

 

You might also like:

What is NFT

What is Polygon (MATIC)

How to create a Polygon (MATIC) wallet

Maria Kachura
Maria Kachura

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