Today, we’ll dive into the real estate projects within the RWA (Real World Assets) sector on the blockchain. Previously, we covered projects like Parcl, Landshare, and LABS. While China’s real estate market has been struggling recently, blockchain real estate explorations abroad have been ongoing for some time. Let’s explore these projects and see which ones might have the most potential.

1. Propy

Website: propy.com/home/

Overview: Propy is a forward-thinking company backed by Silicon Valley leaders and the NAR REACH technology growth program, aiming to transform the real estate industry with cutting-edge technology. Founded by Natalia Karayaneva, who has 15 years of real estate experience, Propy seeks to automate real estate sales processes. It provides a unified platform for global property transactions and asset transfers, addressing the challenges of international real estate dealings. Initially, Propy’s property registry will replicate official land registry records on the blockchain. Ultimately, Propy aims for jurisdictions to adopt the Propy Registry as their official ledger, making property transfers in the “Propy Property Registry” legally recognized.

Innovative Features: By leveraging Propy’s Registry and smart contract platform, traditional delays and obstacles in property rights registration can be eliminated. The platform uses mobile devices, cloud computing, and blockchain technology to connect property buyers, sellers, investors, and registrars worldwide, enhancing transaction security and efficiency. Propy has already processed $4 billion in transactions for clients from Compass, eXp, The Agency, Redfin, KW, Remax, Realty Austin, ACME, and more.

Transaction Methods:

Bank Transfers: On Propy, you can find tech-savvy agents, send/receive offers, make down payments online, and complete transactions using our integrated escrow and title services. Cryptocurrency Transactions: Use Propy to find crypto-certified agents, make and receive offers in cryptocurrency, pay through Propy’s crypto exchange, and finalize transactions with our crypto-friendly escrow and title companies. NFT Home Sales: Experience the groundbreaking process of buying homes as NFTs. Propy created the world’s first home NFT, allowing property listings as NFTs or on MLS. This method eliminates the typical 30-day closing period, enabling quicker transactions with just a few clicks.

2. PROPERTYCLUB

Website: propertyclub.nyc

Overview: PropertyClub is a real estate platform leveraging blockchain technology to enhance how people access property information, rent, buy, sell, and invest in real estate. Alongside smart contracts, the platform utilizes digital currencies such as BTC and its proprietary PCC for completing property transactions. Currently, PropertyClub’s blockchain platform features nearly 5,000 properties for sale or rent in New York.

3. MANAGEGO

Website: managego.com/
Overview: ManageGo leverages blockchain technology to assist rental property owners by providing ledger-based software that helps real estate managers and owners accelerate payment processes, perform thorough credit checks, and manage maintenance tickets. Distributed Ledger Technology (DLT) offers owners more transparent and comprehensive payment records and tenant background information. ManageGo is integrating digital currencies like BTC and ETH into its payment application, soon allowing tenants to pay their monthly rent with these digital currencies. The application utilizes Coinbase’s API to convert all digital currency payments into USD, which is then paid to landlords managing their tenant relationships through the platform.

4. REALBLOCKS

Website: www.realblocks.com

Overview: Decentralized blockchain solutions are facilitating the tokenization of alternative financial assets, including trillions of dollars in private equity, private credit, and private real estate markets. Founded in 2017, RealBlocks leverages blockchain to create a new avenue for real estate investment. Unlike traditional investment in entire portfolios or assets, RealBlocks allows investors to purchase fractional ownership. The platform’s tokenization solution enables more efficient financing, cost-effective compliance, simpler documentation, and crucially, secondary trading of illiquid alternative assets. Additionally, the RealBlocks network can distribute alternative private financial assets more broadly, reducing costs for investors and distributors and enhancing liquidity and transparency in the secondary market.

5. HARBOR

Website: harbor.com/

Overview: In February 2020, cryptocurrency custodian BitGo acquired the security token platform Harbor. This acquisition included Harbor’s subsidiaries, such as a FINRA-regulated broker-dealer and an SEC-regulated transfer agent. Harbor is a compliance platform focused on the tokenization of private securities, including real estate. The company is working to tokenize real estate assets, including funds, private real estate investment trusts (REITs), property ownership, and land, to increase market liquidity and transparency. In September 2019, Harbor partnered with real estate company iCap Equity to tokenize $100 million in real estate fund securities, enhancing their liquidity. This equity tokenization facilitates easier and more fluid transactions among 17 private securities brokers and 1,100 investors. These transactions can only be executed by investors who meet relevant regulations, such as KYC and AML. In 2018, Harbor collaborated with the real estate division of DRW Holdings to tokenize The Hub apartments in Columbia, USA.

6. SHELTERZOOM

Website: www.shelterzoom.com/

Overview: ShelterZoom was established to revolutionize the way people buy, sell, and rent real estate. In 2017, they launched the world’s first blockchain-based real estate platform, offering insights into every stage of real estate transactions and negotiations. After winning the 2018 SIIA CODiE Best Emerging Technology Award for its “high-impact product,” ShelterZoom is developing a groundbreaking platform that transforms various contracts into Contracts of Things (CoT), applicable across industries. ShelterZoom aims to streamline the creation and acceptance of real estate services, reduce paperwork, and enhance transparency in property transactions. In November 2019, they announced their expansion into the Asian market, recruiting regional talents and establishing a base in Melbourne, Australia, with an office opening in the first quarter of 2020. Following this, they plan to open a second Asia-Pacific office in China. According to ShelterZoom, there are currently hundreds of thousands of property listings featuring the NOW button, and this number is expected to grow rapidly as the company targets most online real estate markets over the next three years.

7. STREETWIRE

Website: http://www.streetwire.net/

Overview: StreetWire is a decentralized blockchain network that verifies, analyzes, and protects real estate-related data for smart contracts. It is creating a decentralized clearinghouse for real estate data and transactions, simplifying the processes of closing, lending, and property appraisal while giving value and control back to the data creators. For real estate data producers like brokers, appraisers, and lawyers, StreetWire offers effective control over the data generated from daily transactions and potential future returns. It ensures that data owners are compensated when their real estate data is used and allows them to revoke third-party access if they no longer wish to share their data. For real estate data consumers, such as financial institutions, exchanges, and funds, StreetWire provides the most timely and accurate data for the world’s largest asset class.

8. CPROP

Website: cprop.io/
Overview: CryptoProperties LLC, known as “CPROP,” is a blockchain-based real estate transaction management system designed to allow buyers, sellers, and their service providers to complete transactions transparently and securely. When potential homebuyers browse real estate portal websites, they can choose to use CPROP services via the “Help Me Buy Property” option. This option guides them through a free management process where they can select service providers, such as real estate agents and lawyers, based on user ratings to receive assistance and information at every step. Other service providers, including contractors, inspectors, mortgage brokers, and decorators, can also benefit from additional sales channels provided by CPROP. Remote and international buyers can choose trusted local services based on platform user reviews. The platform offers all service providers a cost-effective way to attract more potential buyers. Initially, the company’s revenue will come from membership fees, with future potential revenue sources including data archiving and retrieval fees, advertising, and management fees upon the closing of real estate transactions.

Finally, to summarize, These projects represent some of the early adopters in the real estate blockchain space. Among them, only Propy has issued a token, while the others have yet to do so. They leverage blockchain technology in various ways, such as for payment processing or recording transactions on the blockchain. Many of these early projects have faced challenges. Newer real estate projects like Parcl and Landshare have also seen significant declines recently, influenced by the broader market environment. Nevertheless, real estate remains a crucial asset globally. Even if the current bull market doesn’t take off, the next one should see better prospects. Therefore, it is worthwhile to keep these projects on our watchlist.

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