Nfts
Propy and Parcl Announce Partnership to Bring Analytics to Real Estate NFTs
What happens when you combine a decentralized application (dApp) tokenization platform with a real-time data-driven decentralized finance (DeFi) protocol?
Besides an intriguing word salad, two real estate properties proptech startups I think this means very good things for owners using non-fungible tokens (NFTs).
Propy And Park announced a strategic partnership on Thursday in which they hope Parcl’s data integrations will improve valuation analytics for real estate properties created on the PropyKeys dApp.
According to the companies, $10 billion worth of homes have been manufactured in the United States and are ready to be tokenized, with the hope of that value reaching $50 billion by the end of this year.
This partnership will give Propy access to Parcl Labs’ advanced application programming interface (API). With its valuation and analytics tools, Propy hopes to attract more real estate markets to its marketplace. blockchain. Propy staked Parcl’s token — $PRCL — to access the API.
PropyKeys has brought 200,000 addresses to its blockchain, including 80,000 in the United States, minted by the actual owners of the homes at the corresponding real-world addresses.
Parcl is building a real-time real estate data platform on market analysis, property valuation and advanced analytics. It aggregates data from over 5,000 sources on rental, listing and sales activity.
Not missing the bravado of players in the NFT space, Parcl said in the announcement that the partnership will make the company the “world’s real estate data layer.”
“By leveraging Parcl’s advanced analytics and real-time real estate data, we deliver unmatched accuracy and transparency in real estate valuations, giving our users the best possible tools to navigate the blockchain real estate landscape,” said Natalia Karayaneva, CEO of Propy, in a statement.
“We hope this partnership will unlock more use cases for Propy and demonstrate what is possible for others looking to innovate in real estate,” Trevor Bacon, CEO of Parcl, said in a statement.
During the cryptocurrency boom in 2022, Propy has partnered with Abra to provide real estate loans that use crypto as collateral.