(PRESS RELEASE – Miami, FL, March 13, 2024)
Now on Coinbase's Layer-2 foundation, PropyKeys aims to democratize real estate investing by allowing users to create on-chain addresses and deeds.
Property keys, a prominent project within the Propy ecosystem known for its blockchain-powered real estate solutions, today announced the public launch of its innovative decentralized application (dApp) that allows users to mint a digital address corresponding to a tangible property. Deployed on Base, Coinbase's Layer 2 network, and powered by the PRO token, users can create digital versions of any home address or global reference point. To further Propy's mission to democratize real estate ownership, PropyKeys is creating a residential address and property title storage platform on the blockchain.
In just two months of invite-only beta testing, PropyKeys experienced widespread adoption with over 1,600 minted addresses, including 300 global landmarks. By bridging the physical realm with the digital landscape, PropyKeys allows users to create digital representations of real-world property addresses, similar to owning a domain name for a segment of the Internet. Once an address is purchased, the buyer can transfer ownership to the corresponding property owner in exchange for additional participation power.
PropyKeys is setting a new standard for property deed security by moving from paper-based systems to digital systems protected by algorithms. This transition to an open-source, community-managed, on-chain registry improves protection against deed theft, ensuring a trusted environment for property transactions.
“The enthusiasm we've seen even during our closed beta has been amazing. The transition from beta to public launch with such positive user adoption highlights the demand for innovative on-chain real estate solutions. It has been incredibly exciting to witness the community's enthusiasm for engaging with PropyKeys, signaling a bright future for blockchain in real estate,” said Andrew Zapo, co-founder and COO of PropyKeys.
New developments and features
In coordination with the public launch, PropyKeys is launching a series of new features that provide an engaging and accessible introduction to real-world asset (RWA) tokenization. Starting today, PropyKeys is launching a staking mechanism, enriching the platform with new incentives. This feature rewards users with PRO tokens, available on Coinbase, for their contribution to the creation and protection of on-chain addresses and ownership titles.
Additionally, PropyKeys offers users the ability to create a custom ai-generated global landmark nft, such as the White House or Big Ben. Using artificial intelligence, users can create detailed digital representations of renowned world monuments. These ai-generated landmarks offer minters a wide range of iconic structures, enhanced by the ability to customize their NFTs, such as the logos and style of their favorite cryptocurrencies. This distinctive customization capability transforms each nft into a unique digital collectible, setting PropyKeys apart in the digital art space.
Digital solutions for real-world challenges
By addressing challenges within the real estate sector, Propykeys and the Propy ecosystem are dedicated to dismantling traditional barriers to entry such as high title fees and operational inefficiencies. By integrating solutions to make digital ownership more accessible, secure and easier to use, PropyKeys aims to revolutionize the $280 trillion real estate market, combating deed fraud and making homeownership safer and more accessible.
“The process of buying or selling a home already needs a transformation,” says Natalia Karayaneva, CEO of Propy. “We are proud of the talented team behind Propykeys and happy that they chose the Propy ecosystem to build on. I'm surprised to see how much they've accomplished in increasing chain real estate adoption in such a short period. Paving the way for a future where real estate transactions are as easy as sending an email.”
By offering a dynamic entry point to the Propy ecosystem and facilitating on-chain title management, PropyKeys enables anyone to begin their blockchain-based real estate journey. From minting residential addresses to verifying ownership and enabling instant property sales, access to RWA or micro-mortgages, PropyKeys is at the forefront of the industry's digital transformation.
For more information, visit PropyKeys.com
About PropyKeys:
PropyKeys, a gamified platform within the Propy ecosystem, is redefining real estate ownership through blockchain technology. Officially launched in March 2024 on Coinbase's Base, a Layer 2 network, PropyKeys allows users to create digital addresses and deeds to real-world properties. By enabling the digital representation of property addresses and offering a secure blockchain-based platform for the storage of property titles, PropyKeys aims to make real estate ownership more accessible, secure and attractive. With features like ai-generated historic nft minting and a novel staking mechanism, PropyKeys is setting new standards for how properties are owned, traded and verified in the digital age.
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