Buying a home has often been seen as a hallmark of individual success.
According to research firm YouGov, 74% of Americans say owning a home is their top priority, ranking it above having a successful career, owning a car and — surprisingly — retirement.
Providing a perfect road map to dissatisfaction are the harsh realities that block the millennial’s path to this goal. According to a 2019 study, nearly 70% of millennials say they can’t afford a house due to rising prices. This dream-crushing reality is explained – or perhaps reinforced – by the findings that house prices have increased by 120% since 1965 and the generational wealth gap has widened significantly in the last couple of years.
While one could understand millennials fuming over real estate issues, blockchain enthusiasts would be quick to counter this response. Especially for those engaged in the tokenization of real estate assets, such as True Ta possibly practical solution to their problems may be just around the corner.
Like many other industries, blockchain has sparked ideas to innovate the real estate market through the concept of tokenization. Tokenization allows many investors to own small parcels of large investment properties by purchasing digital tokens that are linked to those properties.
According to a study by the Hamburg Commercial Bank (HCOB), 13 American companies – including Citigroup Inc. C and JPMorgan Chase & Co JPM – has already started to do so. Real T is among the pioneers of real estate tokenization that brings hope to millennial homeownership — albeit in a way they might not have expected.
Tokenized property with real T
According to calculations provided to Benzinga, Real T is an emerging player in real estate tokenization.
As of June 31, RealT tells Benzinga that it has reached $46 million in sales, more than 200 tokenized properties and over 860 units in areas such as Detroit, Chicago and Cleveland — compared to other tokenized asset operators, Real T boasts a large cohort of investors who act incredibly quickly.
In fact, Real T tells Benzinga that over 9,520 investors from 135 countries have used Real T to buy tokenized real estate. Given Real T’s extreme accessibility and the power of crowdsourcing, the average selling time for a $1 million property listed on Real T is reportedly just six minutes!
These numbers may reflect the excitement surrounding tokenized real estate as the future of property ownership. Throughout this sector, and within the Decentralized Finance (DeFi) sphere, the Real T brand has reportedly achieved worldwide notoriety, energetic and attracting an online community of 57,000 members.
In less than three years, Real T reported the following milestones:
- Q3 2019: The first worldwide standardized tokenization platform
- Q4 2019: The world’s first integration of security tokens on a decentralized exchange
- Q4 2020: Multichain with launch on Gnosis Chain (then xDai)
- Q1 2021: Launched the “re-investment” property
- Q4 2021: Launched payments with Request Network
- Q1 2022: Launched RMM, the world’s first real estate token lending platform, through a partnership with Commutatio Holdings Ltd, a British Virgin Islands holding company established to operate RMM.
Real T’s performance with tokenized assets has reportedly made it the second largest protocol on the Gnosis Chain, and the 133rd most important protocol in DeFi, according to Defi Lama. Since the launch of the RealToken platform last February, token holders have risen from 59 holders to 5,180, an increase of approximately 8,680%.
Check out Real T’s geographic listings and click here to get started.
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Featured image by Naomi Hébert on Unsplash