$1M of Real Estate on Ethereum
RealT has passed the $1M worth of tokenized real estate assets on the Ethereum blockchain
RealT’s latest single-family home, 20200 Lesure, has recently completed sale on Ethereum. This property, sold for $69,400, has pushed RealT over the $1M mark in total value tokenized on Ethereum.
- 9943 Marlowe — $63,750
- 16200 Fullerton — $615,000
- 5942 Audubon — $58,300
- 9336 Patton — $62,700
- 10024 Appoline — $582,200 (42% sold)
- 20200 Lesure — $69,400
— — — — — — — — — — — — —
Total Value Tokenized — $1,055,290
RealT has issued $1M in Real Estate assets on Ethereum!
Investors from over 40 different countries have purchased and received ownership of 6 different real estate properties in the United States! This global set of real estate investors has produced demand for $1M in tokenized US real estate, and marches higher each month!
RealT investors are currently receiving a collective $350 in daily rental distributions generated from these 6 properties. That’s over $10,000 in monthly rental income passed to RealT property owners!
$1M of tokenized real estate assets on Ethereum means that there is $1M of value that is able to be leveraged by the various financial applications inside the Ethereum ecosystem. The growing pool of real estate assets on Ethereum offer DeFi applications a new source of value to tap into.
Democratization and Globalization
Every RealT property has over 100 unique owners. Coming from the real estate world, this simple metric makes traditional real estate investor’s head turn. The 16200 Fullerton property has over 250 unique owners! There is no other platform in the world that offers low-minimum real estate investments.
Legacy fractional real estate companies have minimums of $10,000 or greater, and are only operational inside the U.S. Most RealT property owners own under 1% of the property!
RealT has customers from all over the world. At the time of writing, the total number of countries that have RealT customers in them is about to break 50!
The largest RealT countries are what one might expect: France, Germany, Singapore, Argentina, etc. However RealT has also sold property to customers in Ghana, Cambodia, and Thailand!
Real Estate in DeFi
DeFi, or Open Finance, has become the focus of those building on-top of Ethereum. Product-market fit on Ethereum shown to be dependent on being included in the the DeFi ecosystem of financial applications.
DeFi applications are hungry.
Applications like MakerDAO, Compound, and Uniswap have the largest $USD amounts of value in their respective systems from the products and services they offer to their users using the assets inside their application. Ether and Dai are the two most popular assets used inside of these applications, because they are the two native assets to Ethereum.
This produces an unfortunate chicken+egg problem:
- Applications on Ethereum need ETH to appreciate in price, so that they can access a larger market.
- In order for Ether to do become more valuable, Ethereum’s native assets need to become more useful to its users.
- ETH is the only asset that Ethereum applications can leverage.
Article in Bankless Tomorrow
RealT is attacking this problem head on. With now over $1M worth of Real Estate assets on Ethereum, the next step for RealT and DeFi is to get that value leveraged by Ethereum applications.
Uniswap proved the utility value of financial applications to digital assets on Ethereum. The next step in this journey is maximizing the integration of real estate and DeFi.
Tomorrow, there will be an article in Bankless that illustrates the next steps for RealT and getting real estate assets in DeFi.
The Road to $1B
Generating $1B in real estate demand on Ethereum is no easy task. However, the financialization of Ethereum makes it a favorable place for assets to live. Asset issuers like RealT are able to leverage the DeFi ecosystem for maximal utility and value to its customers. This puts wind in our sales, as demand for this new asset class in DeFi generates the incentive to make them available.
Throughout 2020 and beyond, we look forward to marching towards $1B in tokenized asset, one DeFi application at a time.
Join RealT in breaking down barriers!
Join the global set of RealT users who are receiving rental payments from U.S. real estate properties every day!
