You have heard ICOs in gaming, virtual reality, marketing and IT. But there are many other applications for tokens including in selling and renting real estate property.
Below are some of the tokens to consider in real estate.
Propy platform is a decentralized title registry that uses PROP tokens. The Silicon Valley-based real estate tech company held its ICO from September last year and raised $15 million.
The company made headlines when TechCrunch founder Michael Arrington bought used the platform to remotely buy a home in Kiev for $60,000 from Ukrainian developer Mark Ginsberg through Propy’s platform. The company said it was first ever transfer done entirely on the blockchain.
You can use PROP tokens to purchase property or buy or exchange the tokens in various cryptocurrency exchanges. The token was issued at the cost of $1 in the ICO but was trading at $3.35 as at the time of writing this article.
Propy international real-estate marketplace facilitates cross-border payments and transfers. They also facilitate transfer of the title as part of the transaction.
The blockchain eliminates the need for signing and compiling piles of paperwork needed when purchasing the property. It also eliminates possibility for fraud. But the ledger also serves as a store of records. You can also search for properties and brokers.
Issued by the Barcelona-based Real, REAL will allow you to invest in commercial real estate projects located in any place around the world.
Real is not yet live but will launch in March. They raised a total of $11,153,126 in a September 2017 ICO, supplying 19,717,288 tokens in total.
It will function as an online crowdfunding platform and helps reduce friction between property owners and investors using smart-contracts and blockchain technology.
First, property owners and developers can have the property tokenized and list it on the website. The team will select properties proposed for listing in order to ensure returns of 12-20 percent before listing. Investors, on the other hand, can research and investigate listed property to make an investment by buying stake using REAL tokens.
Berry token were issued by Silicon Valley-based firm Rentberry, a rental platform that allows participants to bid on apartments for rent. The company was formed in 2015 and raised $4 million in venture capital.
The blockchain platform allows decentralized rental experience such as automated personal information, credit reports and custom offers, e-signing rental agreements and online rental payments using the tokens.
The ICO launched on 5 December last year and continues until 28th of February 2018. It hopes to raise 500,000 ETH for 700,000,000 BERRY tokens. I Berry goes for 0.49 USD (0.00040 ETH).
With the platform, participants can share, sell or rent out high-quality office spaces using Ethereum and Waves-based digital tokens.
With one token, you have fill access to coworking or shared workspaces at any Primalbase location for one person. These locations or office spaces have broadband Internet access, digital printing, meeting rooms, and other necessary services. Holders can buy unlimited number of tokens.
Holders can also rent their tokens using special features on the WAVES platform. The token is trading at $5,680.96 as at the time of writing this article.
New York-based Realecoin's RC tokens hopes to raise a minimum of $5 million (a hard cap of $50 million). Tokens can be paid for in BTC, ETH, XRP, BCH, LTC, USD, EUR, or GBP.
The company concentrates on investing in income-producing multi-family housing that needs redevelopment or renovation. Each token will represent a fractional equity interest in the tokenized real estate investment fund. The company considers the ERC20 compliant token to be a financial security governed by U.S. Security Exchange laws. Its value will grow when the held property value grows. See more on the whitepaper.
The company was started by Ruben Azrak who is a real estate investor since 1970’s, founder of Phat Farm, and an active cryptocurrency trader. He has also invested in over 140 startups.
ATL tokens are owned by the United Kingdom-based Atlant and they act as membership certificates that give holders voting rights, and access to other privileges. The company raised more than $6.5 ICO sale last October.
Acting as a stock exchange for real estate assets, property owners can list assets on the platform and tokenize them. These listings are voted on by other members (decides whether to list or not). Holders can sell the digital tokens on the Atlant exchange.
Once listed on the ATLANT Platform, property is verified through n attorney and/or other qualified authority before it is tokenized. A single token is equal to 1 token = 1 mm2 and this is the basis of valuing the property listed. Individuals can then see and buy the token formed in a new name of the property listed (for instance Goodmall token). Individuals can buy some tokens to own a fraction of the property. Once the property is fully funded, the owner is paid the amount of valuation in equivalent of the crypto.
The company also facilitates P2P rentals where in addition to rental payments, customers can lower rental fees and facilitate dispute resolution between.
The tokens are already for sale each valued at around $1.82 according to CryptoCompare data.