Propy Tackles $1.6M Total Cost Problem in Home Ownership Through Blockchain Innovation
Propy Tackles $1.6M Total Cost Problem in Home Ownership Through Blockchain Innovation
🏠 Your House Costs What?
The true cost of a $450K home can balloon to $1.6M due to systemic inefficiencies in real estate transactions. The current infrastructure creates multiple pain points:
- Paper-based title systems
- Slow closing processes
- Expensive escrow services
Propy is addressing these challenges by:
- Recording title on blockchain
- Implementing smart contract-powered closings
- Developing modern financing models
While interest rates remain outside their control, Propy's solutions are actively reducing transaction complexity and costs. Their blockchain-based system is currently operational and serving customers.
🏠 Propy Co-founder Speaks at Abu Dhabi Blockchain Summit on Real Estate Tokenization
**Propy Co-founder Denitza is presenting at the Global Blockchain Summit in Abu Dhabi today**, discussing the future of blockchain-based home ownership. **Real estate tokenization has moved from concept to reality**, with the company positioning itself at the forefront of this transformation. Key developments: - Live presentation on blockchain home buying and ownership - Focus on tokenized property solutions - Part of ongoing global speaking tour including recent Binance Blockchain Week Dubai The timing reflects growing institutional interest in real world asset tokenization, particularly in real estate markets.
🏠 Propy Brings Crypto Real Estate to Art Basel Miami
**Propy showcased crypto-powered real estate at Art Basel Miami** with their branded truck featuring Agent Avery and QR codes for instant property transactions. The company positioned real estate ownership as the ultimate art form, emphasizing their ability to: - Accept cryptocurrency payments - Close property deals in minutes - Make real estate transactions as accessible as scanning a QR code This Miami activation follows Propy's recent Times Square debut and $100M U.S. expansion announcement, highlighting their mission to transform traditional real estate into a liquid, 24/7 digital asset through blockchain technology.
🏠 $100M Partnership Scales
**Partnership expansion** between real estate platform and MorphoLabs reaches new milestone with $100M AI roll-up deployment. **Key developments:** - Onchain loans through MorphoLabs now backing large-scale real estate financing - Capital flowing into Real World Assets (RWAs) via DeFi infrastructure - Enhanced liquidity and composability for real estate transactions **Infrastructure impact:** - Credit rails being established for onchain real estate - Liquidity infrastructure connecting DeFi and property markets - Integration of trusted lending protocols with real estate ecosystem The collaboration builds on earlier partnership announcement focusing on lending vaults and crypto loan products tied to home closings.
Crypto Real Estate Leads Jump 25% in Q3 with Digital Asset Closings
**Crypto adoption in real estate accelerated significantly in Q3 2024**, with leads increasing 25% driven by crypto-friendly policies. **Key market insights:** - 94% of crypto buyers were US-based - Florida led the market, followed by California and Texas - 10% of Q3 closings used digital assets **Digital asset breakdown for closings:** - USDC: 38% - Bitcoin: 28% - Ethereum: 25% - XRP: 9% The surge reflects growing mainstream acceptance of cryptocurrency in traditional real estate transactions, particularly in states with favorable regulatory environments.
**$PRO Token Goes Live on Kraken Exchange**
**$PRO token is now trading on Kraken**, marking a significant step in bringing real estate onchain. The token powers: - Property title transfers - Escrow services - Real estate transactions This listing makes real estate a **programmable and accessible asset class** through global digital markets. **Market Evolution** Payments evolved from checks → cards → stablecoins Markets shifted from local → electronic → programmable Now **ownership itself is moving onchain** The integration represents infrastructure that's both live and regulated, available on one of the world's most trusted crypto platforms. [Explore $PRO on Kraken](blog.kraken.com/product/asse)