Real estate property tokenized with the Ethereum. Manhattan got its first luxury real estate asset tokenized with Ethereum Blockchain which is worth of $30 million. Subsequently, the building is located on 436 & 442 E 13th St in the East Village. Manhattan condo development company developed it. The property has recently appraised at more than $30 Million.
These tokens will help developers to create a new way of financing for the property, hence it is a better alternative for the project and investors. By tokenizing the property on ethereum Blockchain, which will benefit all the stakeholder pressure is removed on traditional bank financing. The New York real estate market is very strong and these new tokens methods create more value to it.
Representation of the real world assets on Blockchain is done by tokenizing it. This is the result of a partnership between Propeller and Fluidity, these companies are offering compliant products and services for the creation distribution and transfer of digital securities.
“Real estate property tokenized with the Ethereum. With Blockchain technology, the traditional securities and issuance framework is changed completely. The transparency and trustworthy ecosystem will increase market potential and liquidity. With proper discipline and respect, the future is bright for tokenized securities”.said by Todd Lippiatt, CEO of the propeller.
The propeller is the parental company of Propeller securities, a FINRA registered broker-dealer. Hence, the propeller will offer and sell traditional and tokenized securities with its financial and capital market experience under Reg D rule 506(c).
Fluidity will provide AirSwap technological platform where the brokers, dealers, issuers and financial institutions register themselves for the tokenized securities. As a result, Fluidity collaborates with Propeller to their institutional capabilities, allowing them to accept flat payments and solicit and sell securities under 506(c).
Tokens allow investors to get their interest in securities in either analog or in digital form. AirSwap technology has the offering process, which also includes “Tokenization”.
Tokenizing the asset is bringing the real world asset to the world and with right partners and an optimized structure, it will be on the digitized online platform. Propeller and Fluidity have led the Blockchain community in this new paradigm.