What happens when you combine a decentralized application (dApp) tokenization platform with a decentralized finance (DeFi) protocol based on real-time data?
Interesting words aside, two real estate tech startups believe this means great things for property owners using non-fungible tokens (NFTs).
my own and Park The strategic partnership was announced on Thursday, with the hope that Parcl’s data integration will improve the analysis of valuing real estate minted on the dApp PropyKeys.
According to the companies, $10 billion worth of homes in the U.S. have been built and ready to be tokenized, with this value expected to reach $50 billion by the end of the year.
The partnership will give Propy access to the Parcl Labs high-level programming interface (API). With its valuation and analytics tools, Propy hopes to bring more real estate markets to its blockchain. Propy stakes Parcl’s token – $PRCL – to gain access to the API.
PropyKeys has brought 200,000 addresses onto its blockchain, 80,000 of which are located in the United States and minted by the actual owners of the houses at the corresponding addresses in the real world.
Parcl is building a real-time housing data platform for market analysis, property valuation and advanced analytics. It aggregates data on leasing, listing and sales activity from more than 5,000 sources.
Parcl, who has no shortage of swashbuckling players in the NFT space, said in the announcement that the partnership will propel the company into becoming the “world’s real estate data layer.”
Propy CEO Natalia Karayaneva said in a report: “By leveraging Parcl’s advanced analytics and real-time housing data, we deliver unparalleled accuracy and transparency in real estate valuations, giving our users the best tools to navigate The real estate pattern on the chain.
“We hope this partnership will unlock more use cases for Propy and show others looking to innovate in real estate what is possible,” Parcl CEO Trevor Bacon said in a statement.
During 2022 Cryptocurrency Boom, Propy Vs. Abra Offers home loans using cryptocurrency as collateral.
