Why the June Crypto Crash Does Not Affect RE.X and BRICK
The cryptocurrency markets are in a freefall, fear is sky high, and many might wonder how blockchain projects survive these harsh markets?
Well, RealEstate.Exchange (RE.X) and BRICK are not in the business of speculative crypto investments. We’re in the business of using blockchain technology to fractionalize, liquidate and tokenize real estate assets on blockchain.
We will not directly be affected by these new market conditions, since we don’t rely on cryptocurrency trading prices. What we rely on is the blockchain technology provided by the Ethereum chain among others, and we are using the rock-solid distributed ledger system to create a new normal of real estate investments, instead of relying on centralized mainframe systems that are prone to fail or incur human errors.
Real estate is a trillion-dollar market entering blockchain
Bringing a trillion-dollar market on blockchain is much more dependent on our ability to execute: making it easy to use, than market conditions. Therefore, we are sad to see the outline of gravestones in the DeFi space, but confident to announce that as a project we’re not exposed to the cryptocurrency crash.
It is always the right time to launch a good business
We are operating at the forefront of technology in a historically conservative business, and our key goal is to merge DeFi with Real Estate in RealEstate.Exchange. Thus, this is not an easy task, it has nothing to do with the current market value of Bitcoin
Bottom line is, that our value proposition stands, regardless of the market conditions:
- Making real estate a liquid asset class instead of an illiquid asset class, which you can read more about in this Medium article
- Make it possible for anyone to buy and sell real estate anywhere in the world
- Settle transactions in a transparent ledger and allow users to self-custody
The following next question is: What about our native token $BRICK?
BRICK is used in two important cases
- Bridge assets tracked on the blockchain
- The backbone of an ecosystem for real estate on this new and improved distributed ledger system.
See more about this in this Medium article.
Naturally, raising funds for BRICK might be affected greatly in the short term. However, since project inception we have always kept budgets to a minimum, raising a small seed round rather than millions that we didn’t know how to spend wisely.
But as you might know, we’ve received grants from Balancer Grants and funds from our mothership DigiShares to build and grow the platform, community, and real estate developers regardless of any cryptocurrencies’ day trade value.