Blockchain
Propy and the PRO Token: Bringing Real Estate Onchain
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In Brief
Explore how Propy is revolutionizing the property industry by bringing real estate onto the blockchain.
Blockchain technology has opened new avenues for real estate. Propy, a pioneering platform in this space, leverages blockchain tech to revolutionize the way real estate transactions are conducted. At the heart of Propy's ecosystem lies the Propy crypto token (PRO). The Propy token serves as a catalyst for tokenizing real world assets (RWAs), particularly in the realm of real estate.
Learn how Propy is bringing real estate onto the blockchain and unlocking new opportunities for investors and property owners.
Before You Get Started
Before you explore Propy (PRO) in more detail, it’s important to remember that you can manage PRO using Trust Wallet. You can download Trust Wallet as a mobile app, or you can install the Trust Wallet Extension for your desktop browser.
What is Propy?
Propy is a blockchain-based real estate marketplace and decentralized title registry that utilizes smart contracts to facilitate property transactions across the globe. Propystreamlines property transactions, making them faster, more secure, and more efficient. Propy's platform enables users to search for properties, negotiate deals, execute contracts, and transfer ownership securely using blockchain technology.
Propy brings real estate onchain through PropyKeys. PropyKeys is a project within the Propy ecosystem that enables users to mint a digital address that corresponds to a physical property. These properties range from home addresses to global landmarks.
What are Tokenized Real World Assets?
Tokenized real world assets represent a groundbreaking concept in the realm of blockchain and finance. Tokenized RWAs are traditional real world assets, such as real estate properties, that have been digitized and represented as tokens, such as NFTs, on a blockchain network.
Tokenized Real World Assets Benefits
Tokenized RWAs, like real estate, unlock a range of exciting possibilities for investors and property owners. Here are some of the key benefits:
Increased efficiency: Traditional real estate transactions can be slow and cumbersome, owing to paperwork and administrative hurdles. RWAs streamline the process by leveraging blockchain technology. Transactions can potentially be settled faster and with lower fees due to the secure and automated nature of the blockchain.
Improved transparency and security: Blockchain technology provides a secure and transparent ledger for recording ownership and transaction history. This can reduce the risk of fraud and errors compared to traditional paper-based systems. Additionally, tokenized ownership records are tamper-proof and readily verifiable, simplifying ownership disputes.
Enhanced liquidity: Tokenized assets can be easily traded on cryptocurrency exchanges, potentially increasing their liquidity compared to traditional real estate investments. This can make it easier for investors to buy and sell their holdings.
Overall, tokenized real world assets offer a new and innovative way to invest in and manage real estate. By leveraging the power of blockchain technology, RWAs have the potential to revolutionize the real estate market, making it more accessible, efficient, and transparent for all participants.
What is PropyKeys?
PropyKeys is a tokenized real estate project developed on the Base network. PropyKeys brings real estate onchain through NFT addresses and landmarks. Using PropyKeys, users can mint digital addresses corresponding to physical properties, ranging from home addresses to global landmarks. PropyKeys aims to revolutionize real estate by leveraging blockchain technology.
Immutable Ownership Records
PropyKeys stores property data on the blockchain, creating a tamper-proof record of ownership. This reduces fraud risk and simplifies ownership disputes.
Decentralized Property Rights
Beyond transactions, PropyKeys is a dApp designed to reshape property rights. Imagine a future where ownership is transparent and recorded on a blockchain, not on paper controlled by a central authority. This could lead to a more secure and equitable system.
Earning Through Participation
PropyKeys creates a new avenue for the crypto community to engage in real estate. Users can stake digital addresses (claiming them) and earn rewards. These addresses can then be sold to the actual property owners.
Transforming Property Ownership
Property owners can acquire their digital address and upgrade it to an on-chain title. This title can be staked and eventually converted into an RWA NFT, facilitating easier property sales or enabling micro-mortgages.
Community-Driven Future
PropyKeys envisions a future where property ownership records are stored securely on the blockchain, fostering trust and transparency through an open-source and community-governed approach.
How Does PropyKeys Work?
PropyKeys works by leveraging blockchain technology to streamline real estate interaction. Built on Coinbase's Layer-2 network, Base, it allows users to mint digital representations of real-world addresses. PropyKeys also aims to revolutionize deed storage by replacing traditional paper deeds with secure, on-chain storage. This open and community-managed system boasts enhanced protection against theft. To incentivize participation, users earn rewards in PRO tokens for contributing to the network by minting and safeguarding these digital addresses and deeds.
PropyKeys hinges on two key players: Minters and Owners. Minters, crypto-savvy individuals, use PRO tokens to mint digital representations of real-world addresses as NFTs on the blockchain. This creates a global on-chain address registry.
Owners, those who actually own the properties, can claim their minted addresses and connect them to real ownership proof. This verification process often involves higher-tier NFTs and validators (licensed professionals) ensuring everything is legit.
Both Minters and Owners are incentivized. Minters earn rewards for minting addresses and educating others. Owners benefit from increased transparency, security of ownership on the blockchain, and even potential future functionalities like faster property sales through secure NFT auctions.
This system aims to streamline real estate processes, promote secure ownership, and potentially open doors for future innovations in the property market.
How to Deposit PRO (Base) to Your Trust Wallet Address
You can deposit propy crypto (PRO) from another crypto wallet address or from a centralized exchange. Here’s how:
Select “Receive” from the home screen.
Search for “PRO” or “Propy” and select it.
From here you have two options. You can either:
Copy your deposit address and use that on your exchange account or other crypto wallet to send funds to.
Use the “Deposit from exchange” option to deposit crypto seamlessly from your exchange account.
Remember that in addition to PRO, Trust Wallet lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.