RealT to Tokenize Detroit Real Estate
As Originally Published on securities.io
By
Revamped Detroit
Detroit has long been a city mired in a state of dismay. It would appear that fortunes have a cyclical nature, however. A city that was once a bustling metropolis went bankrupt, and now finds itself presenting savvy investors with lucrative opportunities. Primarily of which is the real estate market, as noted by RealT.
RealT has recently announced their intent to bring blockchain to Detroit, by tokenization of property ownership. While opportunities are initially limited to residential properties owned by RealT, they intend to eventually allow for individuals to tokenize their own properties through provided platforms. Naturally, as these opportunities represent the distribution of a form of security, investments are limited to qualified individuals.
This entire process is made possible through the use of RealTokens, which function as digital securities. These digital securities are issued upon the Ethereum blockchain, and provide their holders with fractionalized ownership in the properties which they represent.
The perk in approaching the market, as seen be RealT, is that it opens up real estate investing to a much broader market. Instead of the being limited to the very wealthy, fractionalized ownership opens the door to a broader scope of investors – All the while providing participants with actual ownership (something not possible through REITs).
Tokenization of Detroit based real-estate through the issuance of RealTokens has already begun. This inaugural property is located at 9943 Marlowe, Detroit MI.
Commentary
Upon announcing the plan to tokenize Detroit based real estate, RealT CEO, Remy Jacobson, took the opportunity to express his thought.
Remy Jacobson, stated,
“The real-estate market desperately needs a shake-up, with current limitations including laborious documentation processes, siloed markets, and high costs all acting as barriers to entry to investment, particularly for those living in other countries.”
He continued,
“We believe tokenization enables a worldwide marketplace for real estate investment, and it is the next step in the evolution of the industry.”
RealT
RealT is a young company looking to open new investment opportunities through the merging of blockchain and real estate.
These blockchain technologies include the use of Ethereum, stablecoin ‘Dai’, and RealTokens. Allowing RealT to offer individual ‘series’ of tokens representing fractionalized ownership of residential properties in burgeoning markets.
Company operations are overseen by CEO, Remy Jacobson.
