Propy Investor
Investing In Propy (PRO) – Everything You Need to Know
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Propy (PRO) is a decentralized real estate protocol. The network combines a custom-built cryptocurrency, blockchain listing and sales protocols, and real estate-backed NFTs. These systems make it possible for Propy to provide frictionless international real estate transactions. Notably, Propy offers its services to both brokers and individual home owners.
Propy has been recognized as a pioneer in the real estate industry. The protocol was among the first to use blockchain technologies to automate transactions. Notably, the platform conducted one of the first real estate blockchain transactions in the world back in 2017. Since then, the network has remained a popular option for those seeking blockchain solutions.
Propy (PRO) – Twitter
The protocol secured $16 million in venture capital to expand its platform. Interestingly, the network managed to get support from some well-known VCs including Tim Draper and Michael Arrington. Recently, Propy made headlines when it sold a Florida home for $653,163 or 210 ETH. What was really impressive and speaks volumes to the systems effectiveness is that there were 3000 bidders on the property.
What Problems Does Propy (PRO) Attempt to Fix?
There are a multitude of issues that Propy helps to eliminate. For one, the network offers a higher level of transparency and opportunities to the market. It simplifies blockchain adoption by automating the core processes of real estate transactions. You can find all necessary smart contracts and a compatible legal framework to complete your sale securely.
Localized Markets
One of the main reasons it’s difficult to sell your home is that you are mostly limited to local buyers. Yes people can search for your property globally using websites like Zillow, but the purchasing process is still cumbersome and for those located outside of the region, it can be impossible.
Propy streamlines international real estate transactions in its technical structure. The network enables sellers to accept funding from a global audience which increases their access to buyers. Sellers now have a global community that is ready to participate in their events.
Delays
Purchasing a property the traditional means is a time consuming and expensive process. It can take months to complete a real estate transaction. There is escrow accounts, title agencies, brokers, bankers, and many more who create delays. Propy creates a more streamlined approach to the process. You can enjoy real-time unified transactions using the Propy network. Notably, it takes minutes to purchase your next home using this platform.
Fraud
Another major issue with the current real estate market is fraud. In many parts of the world, property records can be a mess. Even in the US, there are often issues with fraudulent real estate documents used in a sale. Blockchain platforms like Propy help to mitigating fraud. The use of a decentralized ledger creates immutable records that can be access at anytime. These systems can also be used to verify the authenticity of certain documents related to the property.
Duplicate work
One of the reasons that the current real estate market is so inefficient is that there is so much redundancy. There is no single area where agents and buyers can meet and work together in a streamlined way. Propy seeks to provide this to the market. It’s designed to service the needs of all parties in the real estate sector.
Inefficiencies in the Market
It’s much cheaper to purchase a property on Propy versus through your local broker. Just the real estate agent commissions can be thousands in funding. Additionally there are so many third-party groups that take part in the process. Each requires fees to be paid for their services. In the end, a large percentage of the funds spent never go towards the property.
Benefits of Propy (PRO)
Propy empowers buyers, sellers, and escrow agents to secure higher returns. The protocol leverages advanced NFT technology to accomplish this task. Through the use of NFTs, both parties can gain some serious advantages. For example, real estate NFTs can aslo be used to secure low-risk DeFi rewards via staking or farming protocols.
Scalable
Propy was built from the ground up to meet the needs of a global economy. As such, its scalable. The developers went to great lengths to provide a single framework for purchasing real estate using blockchain technology that could grow to meet the demands of the community.
How Does Propy (PRO) Work?
Propy operates on top of the Ethereum blockchain. The network uses Ethereum to remain valid and secure. Notably, Ethereum is the largest DeFi and Dapp ecosystem in the world. Propy operates proprietary smart contracts that run on the Ethereum blockchain. The network consists of a global property store and decentralized title registry.
Leverages NFT Technology
At the core of the Propy system is NFT tech. The network was built to integrate these tokens into a Zillow-like layout that facilitates buying real estate projects virtually. Users can scroll through the listing to find properties that meet their criteria. Once you select a property, the next step is to choose an agent and make your offer. It’s that simple.
PRO – CoinGecko
PRO
The main utility token for the network is PRO. PRO adheres to the ERC-20 token standard. It can be used to pay for platform fees and other features. Users are required to hold PRO to create titles deeds or modify contract details. It's also used in the network's community governance systems.
How to Buy Propy (PRO)
Propy (PRO) is available on the following exchanges:
HTX – Established in 2013, HTX has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion. It should be noted that HTX currently does not accept USA or Canadian residents.
Coinbase – A publicly traded exchange listed on the NASDAQ. Coinbase accepts residents from 100+ countries including Australia, Canada, Singapore, UK, & United States (excluding Hawaii).
Propy (PRO)- Blockchain Real Estate Continues to Thrive
Natalia Karayaneva, the CEO and co-founder of Propy, ensured his platform remained ahead of the curve. Propy has set the pace for the current blockchain real estate race. You can expect to see more protocols attempt to join in the sector as the technology provides a plethora of benefits. Propy remains a pioneering force in these aspects. As such, it’s positioned perfectly to remain an industry leader moving forward.
