10 Questions for the Creator
We’ve put the creator, Mark Dencker, in the hot seat to answer 10 questions about RealEstate.Exchange, the $BRICK token, and the process of making real estate investments into a liquid asset on the blockchain.
Hey Mark. In this time of economic uncertainty, how will RealEstate.Exchange (RE.X) value hold up?
“Economic uncertainty is definitely a problem that will affect all kinds of businesses. As of RE.X, we are better positioned than most; we have closed a seed round already and have a runway of more than 1 year from now with the current burn rate, so we don’t need to raise new money any time soon. It is definitely a tough time all around, but we are more on the resilient side.”
Will every property listed on RE.X platform be broken into similar and equal parts, or do they vary depending on the property?
“This is the beauty of crypto, or, may I say, tokenization: you can break properties into a number of tokens. We are thinking that a property will be broken down into a number of tokens equal to the value of the property. The $BRICK token value is the same, so the only varying value is property.”
What’s the minimum level of investment that will be accepted on RE.X?
“On our part, we tried to make the platform as easy as possible to use. Property is divided into tokens at a low cost so that anyone can participate and profit from the property’s value.”
Can tokenization eliminate red tape in real estate, or is it just another layer of red tape, similar to how cryptocurrency financial loans are more complicated than those in banks?
“Yes, and it will. As someone who is dealing with red-tape issues in acquiring property, I can say tokenization will simplify the process. All you need is a wallet, some money, and the legal right to be there. That’s all that’s needed for you to plug into the platform. There are no other hidden costs or paperwork, and it will certainly take less time.”
Will RE.X value be influenced by the crypto market or real estate market?
“Since RE.X is using blockchain technology to resolve red tape issues in real estate, it is predictable that a tumble in property prices will have a sizable effect on the market and platform. Having said that, we are also linked to crypto markets due to our Web3 classification and use of tokens and token trading platforms. Even if it is not as significant, the crypto market will have an impact on the RE.X platform.”
How will the platform launch be conducted?
“We are first building and then launching a beta version of the platform, then we will integrate Balancer pool funds for a more finished version of the platform. We expect Balancer and our other different partners to plug the product in, but our own marketing effort has been paying off in some way, which is why we are doing these digital communications appearances; we are trying to reach out to different types of players and potential partners.”
RE.X has vetted and inspected the properties listed on the platform?
“Yes, all the properties listed are first and foremost vetted; we source some of our clients from DigiShares’ own pre-existing client databases, which have a good track record of legal compliance. We also follow the national and international legal framework for property listings; all in all, we are very keen to do everything by the rules.”
Will RE.X have a house flipping feature for long-term investors?
“We have included a long-term investment feature, particularly for listers, who can opt for a significant refurbishment of the property while it is still listed, and after a new independent valuation of the property, there will be an update on the platform.”
Are you planning to make BRICK tokens available on crypto trading platforms?
“We are talking with different platforms, some reached out to us recently, and by the time of the launch, we will make sure to provide all the info on where BRICK will be available.”
Will there be a real estate property ranking, to see which area or type of property is performing well?
“On our beta platform, which we are currently testing, the properties are listed and presented by location. You can scroll down and search properties by area, location, and maybe type. Ranking properties by performance and how well they are doing is definitely a new angle, which we may take into consideration in due time.”
Any last words for our viewers and listeners?
“We are thankful for everybody who has been with us so far. The industry and market are chaotic and showing no love, so we appreciate the people who do. We are working hard to live up to the expectations of our members and partners. It is a long road we have started, but we are confident in our product, technology, and market trends that real estate tokenization is the next big thing. It is all a matter of time.”
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