CoinMena, a Bahrain-based crypto asset service provider, has teamed up with Carlton Real Estate to facilitate real estate purchases using cryptocurrencies.
Ali Adnan Mahmood, Carlton Real Estate’s deputy managing director, pointed out:
“We are proud to be the first real estate brokerage company in the kingdom to accept crypto asset transactions for property purchases and other real estate services through our partnership with CoinMena – the crypto asset service provider licensed by the Central Bank of Bahrain.”
By incorporating crypto into its payment options, Carlton Real Estate believes this will propel its management, financing, and brokerage objectives. CoinMena enables institutional and retail investors to easily access digital asset investments directly from their bank accounts for frictionless and quick money transfers.
In a joint statement, CoinMena founders Dina Sam’an and Talal Tabbaa stated:
“As adoption continues to grow in the region, we see significant opportunities to use cryptocurrencies to purchase real-world assets. Crucially, this Carlton partnership also signals to the market that cryptocurrencies are maturing and gaining mainstream acceptance as a viable medium of exchange, they said in a joint statement.”
They added that Bahrain has been scrutinizing the crypto/blockchain space based on the adoption of various regulations.
For instance, the Central Bank of Bahrain (CBB) undertook a crypto payment trial with Onyx, JPMorgan’s cryptocurrency and blockchain unit.
Furthermore, Binance received a Category 4 license as a crypto asset service provider (CASP) from the CBB. This license was to permit Binance Bahrain to offer a full range of crypto trading services to consumers under the supervision of the Bahrain regulators, Blockchain.News reported.
Robert Kiyosaki, the financial educationist, popularly known as Rich Dad, has come out openly to denounce real estate as an investment alternative, but now he has changed his mind.
Taking on Twitter over the weekend, Kiyosaki noted that he described, in his new book for 2022, dubbed the Capitalist Manifesto, how a Marxist is now governing the United States.
As described by Kiyosaki, under Marxist rulership, property taxes will be raised, rent controls will be imposed, and interest rates will also be hiked. According to him, all of these events will continue to impact the value of property taxes.
Coming from the COVID-19 pandemic period that was ushered in in the first quarter of 2020, the government has taken two distinctly different directions as it concerns the interest rates in the country. At first, the interest rate was lowered to zero as the government attempted to help cushion the economy adversely impacted by lockdowns and layoffs affecting businesses.
Afterwards, the government reversed course when it discovered the economy had somewhat recovered from the pangs of the COVID-19 pandemic. The government started raising interest rates this year, and by general statistics, the real estate industry has been seeing generally low listings as prices are not favourable to buyers.
Despite the current economic conditions affecting every asset class, Robert Kiyosaki revealed that he is recommending Bitcoin as a reliable investment asset. Unusually, the financial guru also noted that he is classifying Gold and Silver alongside the asset classes that can serve as a good hedge against current inflation.
It has been a rollercoaster for the United States Federal Reserve as its interest rate hikes, targeted to tame inflation, have not really helped, with the last inflation figure pegged at about 8.2% for September.
While the price of Bitcoin is not particularly encouraging considering its deviation from its All-Time High (ATH) value back in November last year, the coin is tapped as one backed with solid fundamentals that can drive its growth in both the mid-to-long-term.
Michael Saylor the CEO of MicroStrategy Inc. stated that Bitcoin (BTC) is a better tool for trade compared to the use of other physical instruments.
He highlighted the challenges that come with physical commodities like gold, stocks, and real estate properties.
According to reports from the Australian Crypto Convention. Saylor highlighted the negative experiences that come with owning a physical property such as high increments in taxes associated with their usage, unlike bitcoin. He is of the opinion that the use of bitcoin will reduce the high taxes rate for consumers. Bitcoin has been so secured for so many years now and is always a secured cryptocurrency
He talked about how physical commodities can’t be moved beyond boundaries adding; “If you have a property in Africa, no one’s gonna want to rent it from you if they live in London. But if you have a billion dollars of Bitcoin, you can loan it or rent it to anybody in the world.”
Saylor highlighted that bitcoin can be carried from place to place, even the smallest piece of it, and can be passed down to children up to the fourth generation going to about 250 years. He also made it known that the only product that can’t be taxed is bitcoin.
Bitcoin’s Potentials in the Digital Economy
In a related interview, Saylor said he was clueless about Bitcoin’s potential until 2020 and wasn’t even thinking of investing in it however this view changed when he saw the persuasive wealth of bitcoin to gold.
Bitcoin is better than gold due to analysis pointed out by his firm, considering government debts, stock derivatives, and precious metals.
“The return of gold is nothing compared to crypto and in the digital world bitcoin is that currency,” says Michael Saylor.
According to survey results made available by Mizuho Securities Co. Ltd., a sizable portion of US citizens may be planning to invest around 10% of the most recent batch of direct stimulus checks on Bitcoin and stocks.
Many who consider Saylor as a persuasive innovator may be moved to inject funds into Bitcoin per his prompting.
Brik by Brik, a major UK-based property development company, is making a long-term bet on the growing cryptocurrency market. The company announced that it will launch Brikn, a DAO ecosystem on the blockchain.
The company says it will reward token holders with the earnings it will make from the real estate industry and plans to achieve a £50 million real estate portfolio over the next five years.
The move confirms the viability of crypto real estate investing, lowering barriers to investing in real estate through blockchain technology, such as the need for mortgages and illiquidity.
BRIKN will automate rent payment and distribution to token investors through smart contracts and the BRIKN Vault pledge platform, allowing investors interested in real estate to have voting and governance rights over the property through cryptocurrency, and can pay lower management fees, and lower investment minimums.
Efficient and simple transactions bring customers a decentralized investment option.
Brik by Brik Director Mark Goodman commented on the development, saying: “Investing in real estate has for a long time been one the world’s favorite tools to achieve financial freedom. Now, with blockchain technology, we’re making cryptocurrency real estate investments easier and more accessible to everyone. Imagine being able to have fractional ownership of multiple income-generating properties from an investment as low as $500. This is next-generation property investment powered through blockchain.”
The structure of participants in the real estate market is complex, including real estate buyers and sellers, intermediaries, developers, real estate owners, and state agencies that register real estate transactions. As a result, transactions to buy and sell properties are complicated as they often take 15 days or more to complete.
Blockchain has its unique advantages in resolving and manipulating property ownership and reducing transaction costs in the real estate market. The adoption of blockchain for real estate transformation has been a trend for some time, and is likely to permeate the ecosystem for much longer.
Two real estate properties located in London are now being tokenized. Hong Kong property tycoon Henry Cheng’s owned Knight Dragon will issue 100,000 security tokens for the real estate items, according to Forbes.
Global law firm Baker McKenzie announced on Tuesday that it has advised Knight Dragon Investments Limited (“Knight Dragon”) and its subsidiary KD Tokens Limited on the tokenization of economic interests in the 191-unit Building 4, Upper Riverside Development – a 191-unit luxury residential development that is located in London, United Kingdom.
Baker McKenzie offered legal and financial structure and other advisory services, which enabled Knight Dragon to tokenize its 29-story high-rise luxury residential development, which is at the heart of the corporation’s ten million-square-foot iconic Greenwich Peninsula development.
The 191-unit luxury residential property is the UK’s latest real estate-backed security token offering (STO) and the first project of Knight Dragon Investments’ real estate tokenization plan to tokenize approximately $500 million of its real estate projects across the UK in the near future.
Knight Dragon, a London-based property developer owned by Hong Kong’s property tycoon Henry Cheng, tokenized at least $140 million of the value of the 191-unit luxury residential property.
According to Forbes, citing Knight Dragon’s announcement that it plans to issue 100,000 security tokens. The tokens, named KDB4, will entitle their holders to a share of 80% of the gross profits generated from Knight Dragon’s Building 4.
KDB4 Tokens are created and digitized using Blockchain technology and Baker McKenzie’s advisory services and issued on the technology. Investors (holders of KDB4 Tokens) will share 80% of the gross profit generated from the prime Central London real-estate development. Part of the profits made from Greenwich Peninsula Building 4 will be distributed to each holder of KDB4 Tokens.
Knight Dragon’s token structure is backed by the property’s audited, actual cash flows. With blockchain, investors benefit from the token’s simplicity and transparency, which represents profits from a prime Central London real estate development. Holders of the tokens are also set to automatically be entitled to future Knight Dragon developments in Greenwich Peninsula, having the first right to invest in or buy future offerings from Knight Dragon.
Joy Lam, a virtual asset specialist, who led the Baker McKenzie team in advising Knight Dragon, said the Knight Dragon building tokenization is a ground-breaking transaction that transforms a traditionally illiquid asset into an efficient and transparent investment product that is accessible to a broad base of investors.
“We are pleased to be advising on the structure and offer of these blockchain-native digital tokens that represent a fractionalized interest in the economics of prime real estate in Central London. This innovative transaction clearly demonstrates how blockchain technology can be harnessed by future-oriented asset owners.”
Knight Dragon Developments is a property developer, interior designer, real estate investor, and property services manager. The real estate development firm is incorporated in Hong Kong with an experienced development team and is an investment vehicle owned by Henry Cheng of New World Development.
The urban regeneration of Greenwich Peninsula is becoming big enough to hold its own against the massive 51-storey skyscrapers of Canary Wharf.
A former industrial site, Greenwich Peninsula is poised to become home to 40,000 people over the next 10 years. It is emerging as a destination to visit, and a place to work and grow a business – particularly for those in the creative industries.
Some 5,000 residents have already moved into the two out of seven neighbourhoods already completed (Upper Riverside and Lower Riverside).
Dr Henry Cheng Kar-Shun, the son of the founder of Chow Tai Fook Jewellery Group, is chairman of Knight Dragon. Dr Cheng worked with Knight Dragon founder and vice-chairman Sammy Lee and CEO Richard Margree to acquire Greenwich Peninsula back in 2012.
Blockchain Boosting Real Estate Business
The latest development by Knight Dragon is a testimony that blockchain-based real estate is gaining increasing popularity as a way for investors, buyers, and sellers to interact with each other and learn about properties.
Blockchain is making a tremendous impact on the real estate industry. By leveraging Distributed Ledger Technology (DLT), trust increases through greater transparency in the sector. Trust in real estate websites, agents, and listings are imperative in the industry. Blockchain expedites contract processes, saves time, and reduces costs.
The technology makes it possible for users to tokenize houses, properties, and apartments and represent them on the blockchain.
Two real estate properties located in London are now being tokenized. Around 100,000 security tokens will be issued, according to Forbes.
Global law firm Baker McKenzie announced on Tuesday that it has advised Knight Dragon Investments Limited (“Knight Dragon”) and its subsidiary KD Tokens Limited on the tokenization of economic interests in the 191-unit Building 4, Upper Riverside Development – a 191-unit luxury residential development that is located in London, United Kingdom.
Baker McKenzie offered legal and financial structure and other advisory services, which enabled Knight Dragon to tokenize its 29-story high-rise luxury residential development, which is at the heart of the corporation’s ten million-square-foot iconic Greenwich Peninsula development.
The 191-unit luxury residential property is the UK’s latest real estate-backed security token offering (STO) and the first project of Knight Dragon Investments’ real estate tokenization plan to tokenize approximately $500 million of its real estate projects across the UK in the near future.
Knight Dragon, a London-based property developer owned by Hong Kong’s property tycoon Henry Cheng, tokenized at least $140 million of the value of the 191-unit luxury residential property.
According to Forbes, citing Knight Dragon’s announcement that it plans to issue 100,000 security tokens. The tokens, named KDB4, will entitle their holders to a share of 80% of the gross profits generated from Knight Dragon’s Building 4.
KDB4 Tokens are created and digitized using Blockchain technology and Baker McKenzie’s advisory services and issued on the technology. Investors (holders of KDB4 Tokens) will share 80% of the gross profit generated from the prime Central London real-estate development. Part of the profits made from Greenwich Peninsula Building 4 will be distributed to each holder of KDB4 Tokens.
Knight Dragon’s token structure is backed by the property’s audited, actual cash flows. With blockchain, investors benefit from the token’s simplicity and transparency, which represents profits from a prime Central London real estate development. Holders of the tokens are also set to automatically be entitled to future Knight Dragon developments in Greenwich Peninsula, having the first right to invest in or buy future offerings from Knight Dragon.
Joy Lam, a virtual asset specialist, who led the Baker McKenzie team in advising Knight Dragon, said the Knight Dragon building tokenization is a ground-breaking transaction that transforms a traditionally illiquid asset into an efficient and transparent investment product that is accessible to a broad base of investors.
“We are pleased to be advising on the structure and offer of these blockchain-native digital tokens that represent a fractionalized interest in the economics of prime real estate in Central London. This innovative transaction clearly demonstrates how blockchain technology can be harnessed by future-oriented asset owners.”
Knight Dragon Developments is a property developer, interior designer, real estate investor, and property services manager. The real estate development firm is incorporated in Hong Kong with an experienced development team and is an investment vehicle owned by Henry Cheng of New World Development.
The urban regeneration of Greenwich Peninsula is becoming big enough to hold its own against the massive 51-storey skyscrapers of Canary Wharf.
A former industrial site, Greenwich Peninsula is poised to become home to 40,000 people over the next 10 years. It is emerging as a destination to visit, and a place to work and grow a business – particularly for those in the creative industries.
Some 5,000 residents have already moved into the two out of seven neighbourhoods already completed (Upper Riverside and Lower Riverside).
Dr Henry Cheng Kar-Shun, the son of the founder of Chow Tai Fook Jewellery Group, is chairman of Knight Dragon. Dr Cheng worked with Knight Dragon founder and vice-chairman Sammy Lee and CEO Richard Margree to acquire Greenwich Peninsula back in 2012.
Blockchain Boosting Real Estate Business
The latest development by Knight Dragon is a testimony that blockchain-based real estate is gaining increasing popularity as a way for investors, buyers, and sellers to interact with each other and learn about properties.
Blockchain is making a tremendous impact on the real estate industry. By leveraging Distributed Ledger Technology (DLT), trust increases through greater transparency in the sector. Trust in real estate websites, agents, and listings are imperative in the industry. Blockchain expedites contract processes, saves time, and reduces costs.
The technology makes it possible for users to tokenize houses, properties, and apartments and represent them on the blockchain.
Two real estate properties located in London are now being tokenized.
Global law firm Baker McKenzie announced on Tuesday that it has advised Knight Dragon Investments Limited (“Knight Dragon”) and its subsidiary KD Tokens Limited on the tokenization of economic interests in the 191-unit Building 4, Upper Riverside Development – a 191-unit luxury residential development that is located in London, United Kingdom.
Baker McKenzie offered legal and financial structure and other advisory services, which enabled Knight Dragon to tokenize its 29-story high-rise luxury residential development, which is at the heart of the corporation’s ten million-square-foot iconic Greenwich Peninsula development.
The 191-unit luxury residential property is the UK’s latest real estate-backed security token offering (STO) and the first project of Knight Dragon Investments’ real estate tokenization plan to tokenize approximately $500 million of its real estate projects across the UK in the near future.
Knight Dragon tokenized at least $140 million of the value of the 191-unit luxury residential property. The No.4 Upper Riverside STO (KDB4 Tokens) was created and digitized using Blockchain technology and Baker McKenzie’s advisory services and issued on the technology. Investors (holders of KDB4 Tokens) will share 80% of the gross profit generated from the prime Central London real-estate development. Part of the profits made from Greenwich Peninsula Building 4 will be distributed to each holder of KDB4 Tokens.
Knight Dragon’s token structure is backed by the property’s audited, actual cash flows. With blockchain, investors benefit from the token’s simplicity and transparency, which represents profits from a prime Central London real estate development. Holders of the tokens are also set to automatically be entitled to future Knight Dragon developments in Greenwich Peninsula, having the first right to invest in or buy future offerings from Knight Dragon.
Joy Lam, a virtual asset specialist, who led the Baker McKenzie team in advising Knight Dragon, said the Knight Dragon building tokenization is a ground-breaking transaction that transforms a traditionally illiquid asset into an efficient and transparent investment product that is accessible to a broad base of investors.
“We are pleased to be advising on the structure and offer of these blockchain-native digital tokens that represent a fractionalized interest in the economics of prime real estate in Central London. This innovative transaction clearly demonstrates how blockchain technology can be harnessed by future-oriented asset owners.”
Knight Dragon Developments is a property developer, interior designer, real estate investor, and property services manager. The real estate development firm is incorporated in Hong Kong with an experienced development team and is an investment vehicle owned by Dr. Henry Cheng.
The urban regeneration of Greenwich Peninsula is becoming big enough to hold its own against the massive 51-storey skyscrapers of Canary Wharf.
A former industrial site, Greenwich Peninsula is poised to become home to 40,000 people over the next 10 years. It is emerging as a destination to visit, and a place to work and grow a business – particularly for those in the creative industries.
Some 5,000 residents have already moved into the two out of seven neighbourhoods already completed (Upper Riverside and Lower Riverside).
Dr Henry Cheng Kar-Shun, the son of the founder of Chow Tai Fook Jewellery Group, is chairman of Knight Dragon. Dr Cheng worked with Knight Dragon founder and vice-chairman Sammy Lee and CEO Richard Margree to acquire Greenwich Peninsula back in 2012.
Blockchain Boosting Real Estate Business
The latest development by Knight Dragon is a testimony that blockchain-based real estate is gaining increasing popularity as a way for investors, buyers, and sellers to interact with each other and learn about properties.
Blockchain is making a tremendous impact on the real estate industry. By leveraging Distributed Ledger Technology (DLT), trust increases through greater transparency in the sector. Trust in real estate websites, agents, and listings are imperative in the industry. Blockchain expedites contract processes, saves time, and reduces costs.
The technology makes it possible for users to tokenize houses, properties, and apartments and represent them on the blockchain.
A three-bedroom (two-bedroom) house in the Portuguese metropolis of Braga has been successfully sold with payment received in Bitcoin (BTC) for the first time.
This is the first time that an apartment has been sold in the country after it was enacted to allow real estate transactions in cryptocurrencies. The purchase price of this house is about 110,000 euros. The buyer paid with 3 bitcoins.
The title deeds were transferred in Porto’s Póvoa de Varzim district on Thursday 5 May. The acquisition was completed with the assistance of real estate firm Zome, regulator Antas da Cunha Ecija and three parties from Switzerland’s Crypto Valley.
Portugal’s local media said it marked the deal as a major deal in the history of the country’s actual real estate market.
Portugal is crafting a name for itself in the crypto space based on its zero-taxation policy, having set up various free zones to spur growth and research for cryptocurrency and blockchain organizations.
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.
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.
The team behind one of the top memecoin projects Shiba Inu (SHIB) is rolling out tokenized real estate dubbed “Shiba Lands” as part of its upcoming metaverse project.
Shiba’s upcoming metaverse is yet to receive a name, with the team referring to it as the “Shiberse,” and stating that the official title will be revealed later this month.
The launch date for the tokenized land sales and auctions is also set to be announced soon and hodlers of the LEASH token (which is available via Shiba Swap) will be granted first access to the land sale events.
After the first round of sales, access will then be opened up to the public.
New Blog: A METAVERSE Story that begins… with an update!
Introducing Lands, a queue system, and more!
$LEASH holders will be the first to gain access to Shiba Inu Metaverse Lands.
Read more… https://t.co/S758ClAbRC
— Shib (@Shibtoken) February 8, 2022
In a Feb. 8 blog post, the team emphasized the importance of introducing extra utility to the SHIB ecosystem and outlined plans to make the asset more than just a memecoin:
“Overall, our focus is not only to disrupt the Metaverse industry but many industries in and outside the crypto world. Therefore we are early, but most importantly, our metaverse serves as the anchor in our sustainable ecosystem, as we add even more utility, projects, and benefits for our beloved ShibArmy.”
NFT floor prices in the basement
The NFT market has faced a notable pullback this week, with the floor prices of a long list of top projects seeing losses of around 10%.
According to data from NFT Price Floor, the Bored Ape Yacht Club (BAYC), CryptoPunks, and Clone X all shed 8.79%, 9.47% and 6.67% apiece over the past 24 hours to sit at a floor price of 91 Ether, 66.95 Ether and 14 Ether respectively.
It appears the market is cooling down after seeing a meteoric surge so far in 2022, with the BAYC’s floor, in particular, starting the year at 60 Ether before almost doubling to around 118 Ether as of Feb. 1.
A major factor correlated with the declining floor prices of the top projects are the declining trading volumes observed on OpenSea. Cointelegraph reported earlier today that the total trading activity on the platform dropped by 30%.
Skyweaver launches beta
The long-awaited rollout of the open beta for NFT turn-based card game Skyweaver has gone live this week, after months of testing behind closed doors for a limited number of players.
Skyweaver is based on the Polygon network and was developed by Horizon Blockchain Games, whose team co-created the ERC-1155 token standard. The game enables players to collect and earn tokenized cards from battling each other, then trade the cards via its marketplace.
Open Beta: Skyweaver
According to Skyweaver, the play-to-earn battle and trading card game already has 233,000 app installs. More than three million games were played in the private beta and 345,000 people signed up for the waitlist before the open beta went live on Feb. 8.
Horizon Blockchain Games Co-founder and CEO Peter Kieltyka said the firm has been working on making the game as user friendly as possible:
“We’ve been crafting Skyweaver for the past four years, fine-tuning the mechanics and user experience to ensure everyone can enjoy — while maintaining the purity of Web3. We’re committed to providing millions of people with easy and secure access to Web3, where everyone can own, use and enjoy digital assets.”
Related:McDonald’s files trademarks for McMetaverse restaurants… that deliver
Physical NFT real estate
Leslie Alessandra, the founder of a Tampa-based blockchain company DeFi Unlimited is auctioning the property rights to her $650,000 home via NFT.
Alessandra’s Spanish-inspired five-bedroom home is going up for sale today in partnership with real estate firm Heckler Realty and start-up blockchain platform Propy.
Alessandra’s property: Heckle Realty
Bidders will need an NFT wallet to participate in the auction which has a starting price of $650,000. The winner of the NFT auction will receive a tokenized deed to the property along with the physical property in “meatspace” or the real world.
“This technology will revolutionize the real estate industry providing speed, transparency, and security on a level not seen before,” Alessandra said on the property’s listing page.
Speaking with the Tampa Bay Times on Feb.9, Alessandra stated that she was conducting the property sale via NFT as proof of concept for how the real estate industry could adopt the technology:
“This is a real tangible, real-world application of that technology. So, when we NFT the ownership documents, it’s instantaneous ownership transfer and that can be from anywhere around the world, which is very powerful.”
Other Nifty News:
The stock price of popular video game store chain GameStop (GME) surged roughly 13% on Feb. 8 day following rumors circulating online regarding a partnership with Microsoft to work on nonfungible token (NFT) gaming.
San Francisco-based game developer Zynga, best known for the FarmVille and CSR Racing series, has announced plans to release its first blockchain and NFT-based games this year, but hasn’t outlined plans to integrate the tech into existing titles at this stage.
