The tokenization of a building located in the city of Manhattan, New York, is a major innovation in real estate. The property has been entered into the Ethereum network and will be offered for sale, each apartment is valued at 30 million dollars.
Entering a business like this in blockchain was considered a breakthrough in real estate, Ryan Serhant, an entrepreneur in the business and idealizer of the project, recommends tokenization as a new financing method as the best alternative for investors.
It will allow the purchase and sale of real estate, more safely and without indiscipline as is common in traditional bank financing, also protects the buyer from fraud at the time of purchase of the property, this creates more confidence and liquidity to investors.
The project is a partnership between Propellr, a creative, management and service platform for digital assets and Fluidity, a specialized platform for tokenization and smart contracts.