Miami, FL, March 13th, 2024, Chainwire
Now on Coinbase’s Layer-2 Base, PropyKeys aims to democratize real estate investing by enabling users to mint addresses and deeds onchain
PropyKeys, a standout project within the Propy ecosystem known for its blockchain-powered real estate solutions, today announced the public launch of their innovative decentralized application (dApp) that enables users to mint a digital address corresponding to a tangible property. Deployed on Base, Coinbase’s layer-2 network, and powered by the PRO token, users can mint digital versions of any home addresses or global landmarks. Furthering Propy’s mission to democratize real estate ownership, PropyKeys is creating a home addresses platform and property deed storage on the blockchain.
Within just two months of invite-only beta testing, PropyKeys saw widespread adoption with over 1,600 addresses minted, including 300 global landmarks. By bridging the physical realm with the digital landscape, PropyKeys is empowering users to create digital representations of real-world property addresses, similar to possessing a domain name for a segment of the internet. After an address is acquired, the buyer can later transfer ownership to the owner of the corresponding property in exchange for additional staking power.
PropyKeys is setting a new standard for property deed security by shifting from paper-based to digital, algorithm-secured systems. This transition to an onchain, open-source, and community-managed registry enhances protection against deed theft, ensuring a trustworthy environment for property transactions.
“The enthusiasm we’ve seen even during our closed beta has been astounding. Transitioning from beta to public launch with such positive user adoption highlights the demand for innovative real estate solutions onchain. It’s been incredibly exciting to witness the community’s eagerness to engage with PropyKeys, signaling a bright future for blockchain in real estate,” said Andrew Zapo, Co-Founder and COO of PropyKeys.
New Developments & Features
In coordination with the public launch, PropyKeys is releasing a series of new features that provide an engaging and accessible introduction to real world asset (RWA) tokenization. As of today, PropyKeys is launching a staking mechanism, enriching the platform with new incentives. This feature rewards users with PRO tokens—available on Coinbase—for their contribution in minting and safeguarding onchain addresses and onchain title deeds.
Additionally, PropyKeys provides users the ability to mint a personalized AI-generated global landmark NFT such as the White House or Big Ben. Utilizing artificial intelligence, users can create detailed digital renditions of renowned global landmarks. These AI-generated landmarks offer minters a wide array of iconic structures, enhanced by the ability to customize their NFTs such as favorite cryptocurrency logos and styling. This distinctive customization capability transforms each NFT into a unique digital collectible, setting PropyKeys apart in the realm of digital art.
Digital Solutions for Real World Challenges
Addressing the challenges within the real estate sector, Propykeys and Propy’s ecosystem are dedicated to dismantling traditional barriers to entry, such as high title fees and operational inefficiencies. By integrating solutions to make digital ownership more accessible, secure, and user-friendly, PropyKeys aims to revolutionize the $280 trillion real estate market, combating deed fraud and making homeownership more secure and accessible.
“The process of buying or selling a home is overdue for a transformation,” says Natalia Karayaneva, CEO of Propy. “We are proud of the talented team behind Propykeys and happy that they chose Propy ecosystem to build. It amazes me to see how much they achieved to increase the adoption of onchain real estate in such a short period. Paving the way for a future where real estate transactions are as easy as sending an email.”
By offering a dynamic entry point to the Propy ecosystem and facilitating onchain title management, PropyKeys empowers anyone to begin their blockchain-based real estate journey. From minting home addresses to verifying ownership and enabling instant property sales, access to RWA or micro-mortgages, PropyKeys stands at the forefront of the industry’s digital transformation.
For more information, please visit please visit PropyKeys.com
About PropyKeys:
PropyKeys, a gamified platform within the Propy ecosystem, is redefining real estate ownership through blockchain technology. Officially launched in March 2024 on Coinbase’s Base, a layer-2 network, PropyKeys allows users to mint digital addresses and deeds for real-world properties. By enabling the digital representation of property addresses and offering a secure, blockchain-based platform for property deed storage, PropyKeys aims to make real estate ownership more accessible, secure, and engaging. With features like AI-generated landmark NFT minting and a novel staking mechanism, PropyKeys is setting new standards in how properties are owned, traded, and verified in the digital age.
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