Roofstock onChain sells Georgia Home to RealT using an NFT on OpenSea
SAN FRANCISCO and MIAMI, March 22, 2023 (GLOBE NEWSWIRE) — Ceiling carpeta leading real estate platform specializing in single family homes (SFRs), today announced the sale of a home in Georgia to RealT, the innovative platform that aims to facilitate global access to US real estate tokenization and investment. The sale was conducted on the Ethereum blockchain through a non-fungible token (NFT) sold on OpenSea, enabled by Roof covering on chain, the web3 business unit of Roofstock. After the sale, RealT plans to fractionalize ownership of the Georgia home, giving investors worldwide a more efficient route into the U.S. housing market.
The sale to RealT is an exciting development that streamlines the traditional property buying and selling process. Property has long been considered an illiquid asset, with the buying and selling process often long and complex. Roofstock has been innovating real estate since 2015 by using technology to help investors source, buy and sell rental properties with ease and transparency. As a next step, Roofstock uses blockchain technology to make it possible to buy properties more efficiently.
The sale of the Georgia home to RealT marks the beginning of a promising partnership, with Roofstock providing expertise in sourcing and acquiring SFR across multiple markets at scale, and RealT providing an innovative approach to global access to US real estate tokenization and investment. Beyond the first home sale in Georgia, RealT will continue to use Roofstock to purchase and purchase properties.
The sale of detached houses using NFT technology marks a significant step in the modernization of the SFR property industry. “Traditional SFR sales are lengthy and complex, and we’ve reduced that process to one click using smart contracts,” said Geoff Thompson, Chief Blockchain Officer. Investors worldwide have a preference for USD-denominated assets, and for US residential real estate.
“RealT’s tokenization and fractional ownership model, combined with strong distribution capabilities, provides a streamlined opportunity for international investors to access US rental properties,” added Sanjay Raghavan, VP of web3 Initiatives.
Roofstock onChain links home ownership to NFTs by titling each home in a limited liability company. The ownership of the LLC is then linked to an NFT, where transfers are registered on the Ethereum mainnet. This web3 property can then be bought and sold on various NFT marketplaces, resulting in instant sales and settlement.
By fractionalizing ownership and offering legal equivalent ownership of tokenized real estate, RealT offers investors worldwide easy access to US real estate investment opportunities and benefits from direct access to liquidity. This streamlined approach makes the real estate industry more efficient, accessible and flexible, which is essential for today’s investors who demand modern investment options that align with their lifestyles and preferences.
“This partnership was a clear choice because with the current situation, retail investors are starting to have serious problems finding a source of financing. On the one hand, Roofstock has disrupted the US real estate market by streamlining the acquisition, renovation and management of properties through a turnkey proptech offering. On the other hand, RealT revolutionized access to real estate investing by allowing investors worldwide to invest from $50 and up, while having the ability to resell or leverage your investment 24/7 thanks to the secondary markets,” said Remy Jacobson – Co-CEO. & co-founder of RealT.
RealT is known for its legally compliant ownership of tokenized real estate, with more than $70 million tokenized on over 280 properties and 1,300 units. Investors can easily build their own property portfolio from just €50 and receive rent every Monday. In addition, they can sell or leverage their assets whenever they want, making it a flexible and accessible investment option.
About Roofstock onChain
Roofstock onChain is the web3 subsidiary of Roofstock, a leading real estate investment platform for the $4 trillion single-family home sector. Using blockchain technology, Roofstock onChain facilitates one-click sales and settlement of single-family rental properties, and transacting with programmable money such as Circle’s USDC, reducing the time and costs incurred by legacy systems.
Roofstock provides comprehensive resources for investors to actively participate in the SFR space, including data analysis, links to property management companies and contractors, and other management tools. Founded in 2015, Roofstock has facilitated more than $5 billion in investment transactions to date.
To learn more or get started with Roofstock onChain, please visit onchain.roofstock.com or @rsonchain on Twitter
About RealT
RealT is the market leader in US real estate tokenization. Launched in 2019, buy a team of Blockchain and Web3 veterans, RealT has built cutting-edge web3 technology and fostered a vibrant and growing investor community in over 135 different countries. RealT has tokenized over 280 properties for an amount of USD 70 million, from single-family homes to larger multi-family buildings. The ecosystem allows investors worldwide to participate in real estate investments and grow their portfolio at their own pace and according to their preferences. They can own a fraction of a structure (represented as a crypto token), receive net distributions, buy, sell and use leverage with their tokens in 2 clicks without all the bureaucracy thanks to their deep integration in decentralized finance protocols (DeFi) .
RealT continues to integrate with several leading DeFi protocols to bring new technology solutions to the global real estate investment market.
To learn more or get started with RealT, please visit realt.co or @RealTPlatform on twitter or on Telegram
Media contacts
Roofstock onChain Media Contact
Kayla Gill, [email protected]
RealT Media Contact
Katarina Fisiak, [email protected]
