Tokenizing Real Estate on AVA

The tokenization of assets refers to the process of issuing a blockchain token (specifically, a security token) that digitally represents a real tradable asset.

For the purpose of this article we will be called Cancri Properties LLC and we are tokenizing 1 Acre of land which equals 6 plot.

Real estate is not a fungible commodity.

Fungible :

“Capable of being exchanged or interchangeable; a fungible commodity is relatively indistinguishable from other items within the same category, e.g., units of currency.”

6 Plots

Cancri Properties LLC have decided to tokenize Bir Tawil Allocation 9, Whoever holds this asset token can visit the Cancri Properties LLC office to claim the Plot allocation, it can be traded online pending claim.

For Cancri to tokenize it, We can decide to either sell all 6 plots at same price or sell at different price.

We will be tokenizing as non fungible.

For Plot 1

curl -X POST --data '{
    "jsonrpc":"2.0",
    "id"     : 1,
    "method" :"avm.createFixedCapAsset",
    "params" :{
        "name": "Cancri Bir Tawil A9P1",
        "symbol":"A9P1",
        "initialHolders": [
            {
                "address": "X-9gbdK8VDi77cQo7UCYRitdqn7t34dFMqx",
                "amount": 1
            }
        ],
        "username":"Cancri",
        "password":"Wikipedia"
    }
}' -H 'content-type:application/json;' 127.0.0.1:9650/ext/bc/X

For Plot 2

curl -X POST --data '{
    "jsonrpc":"2.0",
    "id"     : 1,
    "method" :"avm.createFixedCapAsset",
    "params" :{
        "name": "Cancri Bir Tawil A9P2",
        "symbol":"A9P2",
        "initialHolders": [
            {
                "address": "X-9gbdK8VDi77cQo7UCYRitdqn7t34dFMqx",
                "amount": 1
            }
        ],
        "username":"Cancri",
        "password":"Wikipedia"
    }
}' -H 'content-type:application/json;' 127.0.0.1:9650/ext/bc/X

With the above, Cancri can sell plot 1 and plot 2 at different price and it is also means we will not have allocation issues where two holder are trying to claim the same plot of land

• A9P1: means Allocation 9 Plot 1.

You can find A9P1 on the AVA explorer

• A9P2: means Allocation 9 Plot 2

You can find A9P2 on the AVA explorer

The two Plots will be issued to the same holding wallet of Cancri Properties LLC

What Next

Cancri Properties LLC can now sell it, The token becomes a valid contract between the holder and Cancri Properties LLC.