2021 is officially halfway over, and what an exciting year it has been for crypto – and Propy!
2021 put NFTs (Non-Fungible Tokens) in the public spotlight which opens up new possibilities in regards to how real estate can be transferred. As a company that is committed to pushing innovation and use-case when it comes to blockchain technology and real estate, we believe NFTs provide a way to radically transform the real estate industry that we know and love.
Our roadmap below shows many of the important things we are working on, including a focus on utilizing NFTs in real estate transactions – all in an effort to achieve our ultimate goal of self-driving real estate transactions.
In June, we auctioned off a real estate-backed NFT. The winner of the NFT received full ownership of a studio apartment previously owned by TechCrunch founder, Michael Arrington. The auction winner immediately received transferrable digital ownership rights which can be kept, resold on the secondary market, or even more interesting – transferred to defi platforms, enabling collateralized loans and p2p mortgages.
We will be releasing a new, updated whitepaper covering these new technological advances in June as well. This document will give a detailed understanding of our areas of focus in the coming months, provide an in-depth framework of the real estate NFT space, and how we will position ourselves as the pioneers of this concept, unlocking trillions of dollars in the process.
Additional projects in development include:
Creating a real estate NFT Marketplace
Buyers and sellers from around the world will be able to use our marketplace to transact with real estate-backed NFTs. We hope our proof of concept NFT auction in June will be the catalyst to make this type of sale catch on globally. We are actively soliciting properties to feature on the marketplace here.
Reducing the stress of the home search/closing process
We want to make the home search and closing process more enjoyable by “gamify-ing” the experience. Who says real estate has to be boring?
Integrating financing into our platform
We plan to enable real estate-backed loans directly on our platform. Our number one goal is to make the home buying and selling process easier and streamlined, and integrating financing enables us to accomplish that.
We are committed to radically improving and changing the real estate industry for everyone involved. With your support, we will do just that.