Since the ICO Boom of 2017, there has been a lot of excitement surrounding the idea of tokenized real estate. While some of the projects never lived up to the hype, like many early ideas in crypto, real estate on the blockchain is now seeing a real-world use case.
This week, Fintech startup Reinno announced its launch of an investment platform for tokenized United States commercial real estate, with $237 million worth of property values at the start.
Some advantages of buying and transferring real estate on the blockchain include the ability to purchase and transact fractional ownership of real estate comfortably, smoother and more efficient transactions without lengthy and expensive bank transactions, and the ability to hold funds in escrow via programmatic smart contracts.
The new Reinno platform gives investors the power to invest in the commercial real estate market, to purchase a stake in income producing-properties like medical facilities, industrial buildings, and residential blocks with as little as $5,000.
This creates a more efficient way of transacting, creates enhanced liquidity, and can still abide by regulations. Another real estate platform, Antalya homes, allows customers to buy real estate in Turkey with Bitcoin, Ripple, Bitcoin Cash, and Ethereum, powered by a new exciting token platform UTrust (UTK).
In Dubai, there are 150 apartments for sale in the Aston Plaza & Residences that can only be bought with Bitcoin. With the rising crypto real-estate market, and as the world becomes more digital, traditional finance continues to be disrupted through cryptocurrency and blockchain.
Top Market Movers:
- Ontology (ONT) +33%
- yearn.finance (YFI) +26%
- Voyager Token (VGX) +13%
- StormX (STMX) +11%
yearn.finance Now Available on the Voyager App
Earlier this week, Voyager announced a brand new token, yearn.finance (YFI), available for buying, trading, and transfers on the Voyager app. yearn.finance is a DeFi yield aggregating platform that runs on the Ethereum blockchain.
In the recent market rebound, yearn.finance has seen significant upward movement since being added to the Voyager app and gained major traction in the crypto market.
Voyager Successfully Fundraised C$5.745 Million in Private Placement
We’re excited to announce the successful fundraising of C$5.745 Million in private placement, as well as our preliminary fiscal first-quarter 2021 guidance.
"Voyager has seen exceptional growth over the last few months as the adoption and acceptance of digital assets has accelerated," said Steve Ehrlich, Co-Founder and CEO of Voyager.
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