Algorand And Vesta Equity Will Allow For The Tokenization Of Real Estate Properties

By Kevin • March 6, 2022 6:17 pm • Comments

The Algorand ecosystem continues to expand and recently launched Vesta Equity which will allow real estate owners to tokenize their properties and given them more control.

Vesta Equity is an NFT platform that runs on the Algorand blockchain that enables this tokenization process which will also allow owners to sell a portion to the market.

With such capabilities, real estate owners will be able to benefit directly if the value of their properties grow since their value is now liquid in the form of a digital asset.

Trending: Ron’s Basement’s Cat Jasper Reaches $1.5 Million Market Cap Following Launch of Unicorn Fart Dust

This change could have the potential to further the growth of Algorand and prove a concept that could show how NFTs could revolutionize the real estate market.

NewsBTC.com reports:

The platform has the additional objective of letting users benefit from the value of their properties, turning them into tokenized digital assets. At the same time, Vesta Equity:

simultaneously advancing housing affordability, economics, and frictionless investor accessibility to residential real estate.

Vesta Equity offers users access to a native marketplace which removes friction from the process of transacting with real-estate-backed NFTs. The platform has a catalog of properties, price ranges, addresses.

In addition, an owner or potential investors looking to purchase a portion of this Algorand backed NFTs can view the percentage of equity available, of equity listed, and equity sold.

The platform is user friendly and also has additional features built in such as providing future price forecasts about the property’s potential value and expected returns.

With Algorand being able to utilize NFTs to decentralize the real estate buying and selling process as well as remove any middlemen, this gives real estate owners more direct control over their properties.

The real estate market is currently valued at a total of $23.6 trillion and even if a small portion of that total market was able to be disrupted by this new process, this could create a bullish outlook for Algorand and Vesta Equity.

With the tokenization of real estate, more and more users would also have access to the real estate market which was previously only available to those who had large amounts of capital.

NewsBTC.com shares:

Michael Carpentier, CEO, and Co-Founder of Vesta Equity said the following on the project:

Imagine a world where with a few clicks of your mouse you can access the entire accumulated value of the equity in your home without incurring debt or selling and moving.

At the other end, investors can participate by purchasing into the future appreciation of the property and build a portfolio of real estate assets like they do with stocks.

Imran Rahaman, COO at Vesta Equity, called the launch of the platform an “innovation” in the home equity sector. In addition, Rahaman believes the project is a new use case align with the ultimate goal of blockchain technology:

we become an example of a company using blockchain for what it was designed: to remove friction from traditional exchange of value systems, and to open up new financial opportunities for people everywhere.

If Algorand can successfully gain traction with this project, it could be similar to when fractional ownership of companies was first introduced using stocks.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

 

Search ProCoinNews