Author: Weilin, PANews
The year 2024 is significant for the tokenization of real-world assets (RWA) in the real estate industry, especially as the integration of this field with Web3 technology deepens. As one of the leading projects in this area, Propy has achieved many milestones. Since launching PropyKeys on Base in March, Propy has successfully minted over 285,000 property addresses, driving the digital transformation of real-world assets. PropyKeys has integrated Chainlink automation on BuiltOnBase, providing secure staking rewards, with more developments to come in the future.
Additionally, Propy has jointly launched custodial services with Coinbase, offering a safer and more efficient solution for real estate transactions.
Looking ahead to 2025, Propy is accelerating its global strategic plan. Propy has introduced a new on-chain real estate loan product that allows buyers to obtain instant on-chain loans by using BTC as collateral, unlocking scalability. This initiative removes barriers for consumers in property ownership and enables buyers to purchase real estate using USDC, ETH, or BTC, while also offering a 100% instant cryptocurrency-backed loan option. This product makes real estate transactions more convenient and smooth, staying true to Propy's founding mission.
Building on this success, Propy is actively seeking loan partners to further expand its cryptocurrency-backed loan model. By collaborating with innovative lenders, Propy aims to create more opportunities for buyers, making property ownership more accessible, all made possible through blockchain technology.
2024 Report Card: Launch of PropyKeys, Multiple Partnerships, and Addition of Heavyweights to the Leadership Team
In 2024, Propy made breakthroughs in several areas. In March, Propy's innovative product PropyKeys was officially launched on Base, allowing users to mint digital addresses and contracts for real-world properties, with over 285,000 mints to date. Subsequently, the minting of landmark NFTs generated by PropyKeys AI and a novel staking mechanism created a gamified experience, making home ownership more accessible, secure, and interactive.
Propy successfully deployed Chainlink Automation technology to distribute staking rewards. After integrating Automation into PropyKeys, Automation allows developers to automate key on-chain functions at set intervals or in response to external events. Based on Chainlink Automation, Propy achieved highly reliable, high-performance, and decentralized automation, enabling quick identification and confirmation of transactions even during periods of severe network congestion.
Moreover, Propy announced a strategic partnership with the decentralized real estate derivatives protocol Parcl to enhance the quality of on-chain property analysis and valuation. Propy utilizes Parcl's API to improve valuation and analytical capabilities related to PropyKeys.
In terms of user experience, Propy collaborated with Coinbase to launch a third-party custodial service for cryptocurrencies. If buyers hold Bitcoin, they can securely place it in Propy's certified property custodial service for real estate transactions, exchanging it only upon completion of the transaction. This avoids unnecessary fees and taxes.
Propy is also continuously strengthening its team, welcoming two heavyweight figures to the board: former SEC commissioner and financial regulatory expert Dr. Michael Piwowar, and Coindesk's Chief Content Officer, blockchain pioneer, and media veteran Michael Casey.
Over the past year, Propy has received widespread recognition in the industry. Propy was cited in Messari's blockchain report and participated in several high-profile events, sparking discussions on blockchain property rights at the EthCC conference with Vitalik Buterin. Through technological innovation and leadership, Propy's CEO Natalia Karayaneva was awarded the 2024 Inman Best Real Estate Technology Award for "Entrepreneur."
Propy also hosted the Propy Summit 2024. This was not just a summit but a microcosm of building the future together. The event brought together leading innovators and visionaries from the blockchain and real estate sectors, including Senator Cynthia Lummis, Mayor Francis Suarez, Tim Draper, Anthony Scaramucci, and many other industry leaders.
2025 Vision: Launch of RWA On-Chain Assets, DeFi Loans, and Global Market Expansion
In this new year, Propy will expand its blockchain real estate solutions, having already launched a DeFi loan program in the first quarter.
Propy will accelerate its layout in the U.S. market, planning to become a national blockchain property and custodial company by the end of the year. By obtaining more licenses and advancing its blockchain-based settlement services, Propy aims to become the first fully licensed blockchain property and custodial provider in the U.S. According to research firm IBISWorld, the U.S. property insurance market was valued at $22.6 billion in 2023. Meanwhile, data from software company Debut Infotech predicts that blockchain adoption in real estate is expected to grow at a compound annual growth rate (CAGR) of 64.8% until 2028. Propy is poised to lead the industry in this new era, bringing higher efficiency, transparency, and innovation.
From the perspective of the Propy token, PRO will become an asset benefiting from dual advantages in the U.S. real estate and cryptocurrency markets. With the U.S. government set to introduce new policies, including a proposal to eliminate capital gains tax on domestic cryptocurrency transactions, the U.S. may become the next major crypto hub. Currently, crypto investors face a 20% long-term capital gains tax or up to 37% short-term capital gains tax, depending on the holding period and income level. According to Investing in the Web, 13.22% of Americans (approximately 44.96 million people) currently own cryptocurrency, and real estate is increasingly seen as a way to diversify crypto portfolios. Eliminating capital gains tax would significantly increase the number of cryptocurrency and real estate transactions.
As the first blockchain-based real estate token in the U.S., the PRO token will drive the adoption of cryptocurrency in RWA transactions and incentivize investors to use cryptocurrency for investments, supporting a broader ecosystem of tokenized real estate.
At the same time, Propy will initiate a global expansion plan, entering non-U.S. markets, with relevant announcements expected in the first quarter of 2025. This expansion comes at an opportune time, especially in regions like Asia and Latin America, where real estate fraud is rampant. For instance, in India, 66% of civil cases stem from real estate disputes, while in Indonesia, about 40% of property documents are affected by fraud. Similarly, Argentina faces long-standing issues of property corruption and irregular documentation, with historically unreliable registration systems and bureaucratic transparency issues undermining property rights and hindering economic progress.
Through blockchain technology, Propy addresses the need for trust, efficiency, and integrity in real estate governance. For governments facing outdated systems and public distrust, Propy's technology offers a pathway to modernization and accountability, streamlining processes while protecting citizens' rights. As countries seek to attract foreign investment, enhance transparency, and align with global best practices, they are increasingly willing to collaborate with innovators like Propy.
On January 29, Propy launched a new loan option supporting the purchase of a Hawaiian condo with collateralized crypto assets. The starting price for the condo is 250,000 USDC, and as an on-chain RWA asset, buyers can skip the traditional 30-day transaction process and achieve almost instant transactions by paying with cryptocurrency. If buyers are reluctant to sell mainstream crypto assets, they can also choose to use Bitcoin or Ethereum as collateral to complete the payment, with a loan interest rate of 10%.
This is a two-year loan. If the value of the provided cryptocurrency drops by more than 50%, buyers must add margin; in the worst-case scenario, the cryptocurrency assets may be liquidated, and the property will be auctioned for resale. However, if the cryptocurrency price doubles, buyers can easily repay the loan with their profits. Interest payments and the loan itself can be repaid using Bitcoin, Ethereum, or USDC. This offers an attractive option for buyers who wish to retain their crypto assets.
On February 2, Propy announced the successful sale of Hawaii's first on-chain real estate asset—completed through multiple on-chain bids and finalized with the first Bitcoin-backed loan.
In addition, Propy has expanded its service offerings and is collaborating with real estate developers to provide comprehensive property and custodial solutions tailored specifically for their residential projects.
In terms of community building, Propy will also launch the "Web3 Property - Trailblazer Spotlight" series, showcasing industry innovation leaders weekly. A series of weekly programs will highlight pioneers who believe that bringing property rights on-chain can change the world. From blockchain innovators and investors to technology thought leaders, this series will showcase individuals driving change.
Looking back at 2024, Propy not only achieved numerous breakthroughs in the tokenization of the real estate sector but also helped redefine asset ownership and value in the industry. In 2025, with the launch of RWA on-chain assets and the rollout of the DeFi loan program, Propy is likely to continue driving innovation and transformation in the global real estate market.
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