Blockchain-based real estate transaction management company Propy has partnered with digital asset wealth management platform Abra to open up a path to obtain real estate loans with digital assets as collateral.
Propy said that real estate buyers can use Abra Borrow to use their cryptocurrency for mortgage loans flexibly and said that repayment terms are very flexible and offer options as low as 0% to borrow dollars.
It’s an ‘All-In-One’ property transaction solution offering a unified transaction management process.
The CEO of Propy is Natalia Karayaneva, a real estate professional.
He emphasized the importance of finding a partner who can provide highly reliable crypto collateral for being the first company to process real estate transactions as NFTs.
He said about the collaboration：
“Abra’s impressive borrowing platform, proven track record, and customer-first mindset make it a natural fit as a partner. We look forward to working with the Abra team to expand financing options for the real estate ecosystem.”
The popularity of cryptocurrencies has led many real estate developers to accept cryptocurrencies as a means of payment.
Yesterday, Damac Properties, a major real estate development company based in Dubai, United Arab Emirates (UAE),announced Wednesday that it would sell properties using Bitcoin and Ethereum as payment methods.
Nonfungible tokens (NFTs) skyrocketed in popularity over the course of 2021 as the wider public became enthralled with projects like the Bored Ape Yacht Club and CryptoPunks, but these one-of-a-kind digital images are only scratching the surface of what NFT technology is capable of.
One project focused on expanding the functionality of NFTs beyond the digital art space is Propy, a protocol focused on the integration of blockchain technology with the real estate sector by automating the closing process of home buying to make the entire process faster, simpler and more secure.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $1.12 on Jan. 12, the price of PRO moved 227% higher to hit a daily high at $3.67 on Jan. 14 as its 24-hour trading volume spiked 452% to $29.3 million.
PRO/USDT 4-hour chart. Source: TradingView
Three reasons for the sudden surge in Propy price include the token being listed on Coinbase exchange, the successful completion of the first sale of a real estate NFT and growing potential of NFTs to be used in different use cases.
The Coinbase bump
The surge in the price of PRO on Jan. 14 was in large part due to the token listed on Coinbase, the largest cryptocurrency exchange in the United States.
INV, LQTY, NCT and PRO are now live on https://t.co/iQARfimGvY & in the Coinbase iOS & Android apps.
Coinbase customers can log in now to buy, sell, convert, send, receive or store.https://t.co/Yhm3KRFbAr pic.twitter.com/TFzIoqhQG4
— Coinbase (@coinbase) January 13, 2022
Prior to the Coinbase listing, the PRO token was only available on a limited number of exchanges including Huobi Global, Bitrue and the decentralized exchange Uniswap.
Coinbase is the second-largest cryptocurrency exchange by volume globally and the main exchange serving U.S.-based investors who have historically conducted the highest volume of cryptocurrency trading.
The first real estate NFT in the U.S.
A second development that is helping to boost the price and trading volume of PRO is the upcoming sale of the first real estate NFT in the United States.
According to Propy founder and CEO Natalia Karayaneva, the reason Propy chose Florida for its first U.S.-based real estate sales include a crypto-friendly state government, positive future price growth and demographic statistics, a growing job market and the state’s 0% individual income tax policy.
While the upcoming sale in Tampa marks the first real estate NFT sale in the U.S., Propy completed the first-ever NFT sale back in 2017 when TechCrunch founder Michael Arrington sold his Kyiv apartment for 36 Ether.
Related:NFT sales and blockchain games continue to grow despite the recent market slump: Report
Rising popularity of NFTs and blockchain technology
Another reason for the building momentum behind Propy is the overall growth in awareness of NFTs and blockchain technology.
The promise of integrating NFTs with things like house deeds and corporate contracts has been a topic of discussion for years, and last year’s explosion in NFT interest and trading volume raised the level of public awareness to the point where the concept can gain more traction.
On top of the usefulness of NFT technology, the increasingly dire state of the global financial system has investors looking for secure places to store their wealth, for which real estate has long been a preferred safe haven.
Best hedge against all of the chaos in the world:
1. crypto
2. real estate
3. investment in yourself
— Natalia Karayaneva (@NataliePropy) December 29, 2021
Now, the process of buying and holding real estate is about to enter the 21st century with the integration of blockchain technology and NFTs because the influence of middlemen will be reduced, helping to lower the cost of the entire process.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
A low-cap altcoin has skyrocketed by more than 372% in the past seven days after receiving full trading support from Coinbase this week.
PolySwarm (NCT) is a threat detection and anti-malware project that was listed by Coinbase Pro on Wednesday, alongside altcoins Inverse Finance (INV), Liquity (LQTY), Propy (PRO).
All four crypto assets then received listings across the exchange’s full retail platform the following day.
PolySwarm uses its native token, NCT, to reward users who assist in the collection of cybersecurity data and insights. The 344th-ranked crypto asset by market cap is trading at $0.12 at time of writing, up 372% from where it was priced one week ago. NCT was down nearly 29% on Friday, however.
This week, the prices for the other three altcoins likewise rose by varying amounts. Inverse Finance (INV), an Ethereum-based token offering a suite of banking tools for decentralized finance, is up nearly 20% in the past seven days.
The decentralized borrowing platform Liquity saw its native asset, LQTY, shoot up by nearly 33% in the past week.
Propy’s native token, PRO, surged by more than 147% in the same period. Propy is a platform that automates real estate transactions to save time and reduce the likelihood of fraud.
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Featured Image: Shutterstock/Willyam Bradberry/Sensvector
A surprise group of Ethereum-based tokens are heating up after a sudden listing by top US crypto exchange Coinbase.
In a new blog post, Coinbase says that two finance-focused altcoins and a pair of other crypto assets will start trading on Coinbase Pro once appropriate liquidity conditions are met.
Inverse Finance (INV) is an Ethereum token offering a suite of banking tools for decentralized finance. Founded in 2020 by a single developer, the project now operates as a decentralized autonomous organization with hundreds of active members.
Inverse Finance saw its price go vertical from $621.82 to as high as $822 after the Coinbase announcement. The altcoin is currently up 22.14% on the day and trading for $767.61.
Also getting the green light from Coinbase Pro is the decentralized borrowing platform Liquity (LQTY) which offers interest-free loans using Ethereum (ETH) as collateral.
Liquity initially spiked 62.3% from $5.12 to $8.31, and currently, LQTY is up 13.25% on the day to $7.91.
Next up is Propy (PRO), a platform that automates real estate transactions to save time and reduce the likelihood of fraud. The native token can be used to cover the cost of fees and contracts.
Propy jumped from $1.59 to $2.30 almost instantly after the Coinbase news broke, ultimately peaking at $2.61. PRO is currently up 53.14% on the day at $2.45.
Last on the list is the threat detection and anti-malware project PolySwarm (NCT). The native token rewards users who assist in the collection of cybersecurity data and insights. PolySwarm partners include Alibaba.com, Tylabs and SecureBrain.
PolySwarm skyrocketed from $0.026 to $0.103 in response to the listing, a 296% jump.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
