Propy, a leading real estate tokenization platform, has joined forces with Parcl, a decentralized finance (DeFi) protocol specializing in real estate data, to announce a strategic partnership that aims to revolutionize the on-chain real estate market. The collaboration between Propy and Parcl is set to enhance the PropyKeys platform, which has already tokenized over $10 billion worth of U.S. homes and is projected to exceed $50 billion by the end of the year.
The initiative by Propy will leverage Parcl Labs API to enhance property valuation and analytics, with the goal of bringing more real estate markets onto the blockchain. In just three months, Propy has successfully on-chained 200,000 addresses, including 80,000 U.S. homes that are currently available for sale. Parcl’s technology aggregates data from over 5,000 sources, providing a comprehensive repository of housing market information that includes rentals, listings, and sales activity at the property level.
Natalia Karayaneva, CEO of Propy, highlighted that this partnership with Parcl aligns with Propy’s mission to secure and elevate the real estate market by offering accurate and transparent property valuations. She stated, “Propy’s mission has always been to elevate and secure the real estate market, and our partnership with Parcl is taking this vision to the next level.”
Trevor Bacon, CEO of Parcl, expressed excitement about the potential of this collaboration to set new standards in the real estate industry. He emphasized the opportunity to power other on-chain applications by leveraging Parcl Labs data and expects the partnership to unlock more use cases for Propy while showcasing innovation possibilities for others in the real estate space.
The partnership between Propy and Parcl signifies a significant step towards advancing on-chain real estate innovation and fostering accessibility and security in global real estate markets. By combining their expertise and resources, the two companies aim to provide users with cutting-edge tools for interacting with on-chain real estate, ultimately shaping the future of asset tokenization in the real estate industry.
For more information on asset tokenization and blockchain real estate tokenization, interested individuals can read the full article on the announcement of the $10 billion in homes ready for tokenization by Propy and Parcl on crypto.news.