Propy and Parcl Announce Strategic Partnership for Onchain
Home Analytics and Valuation
MIAMI, July 18,
2024 /PRNewswire/ -- Propy, the fastest-growing
real estate tokenization platform, and Parcl, a DeFi
protocol built on best-in-class real estate data, have announced a
new strategic partnership to enhance the analytics of all onchain
real estate minted on PropyKeys using Parcl's best-in-class data
integrations. The partners revealed that over $10 billion worth of U.S. homes have already been
minted and are prepared for tokenization in the Propy ecosystem
with the total value of all properties minted on the ecosystem
dApp, PropyKeys, is projected to exceed $50 billion by year-end.
Under this new partnership, Propy will leverage Parcl Labs API
to enhance valuation and analytics capabilities related to Propy's
PropKey initiative. The partnership should unlock future
opportunities related to Propy's efforts to bring more real estate
markets (RWA) onto the blockchain. To gain access to the API, Propy
acquired and staked the $PRCL token, as Parcl Labs API access is a
core utility of the PRCL Token. In just three months, Propy and
PropyKeys have successfully brought 200,000 addresses on-chain,
including 80,000 U.S. homes minted by their true owners, many of
which are currently for sale onchain.
"Propy's mission has always been to elevate and secure the real
estate market, and our partnership with Parcl is taking this vision
to the next level," said Natalia Karayaneva, CEO of Propy. "By
leveraging Parcl's advanced analytics and real-time housing data,
we are providing unparalleled accuracy and transparency in property
valuations, empowering our users with the best possible tools to
navigate the on-chain real estate landscape."
Parcl has identified a critical gap in the housing market
industry: the lack of complete and real-time housing data for
accurate market analysis, property valuation, and advanced
analytics. In response, Parcl has developed innovative
technologies that aggregate data from over 5,000 sources, covering
rental, listings and sales activity, indexed and accessible at the
property level. This establishes Parcl as a reliable central
repository for housing market information, moving the Parcl
ecosystem towards being the real estate data layer of the
world.
"We are excited about the potential to power other onchain
applications by leveraging Parcl Labs data. Propy is a leader in
the RWA space and continues to push the boundaries of what can be
achieved by bringing physical real estate onchain. We expect the
partnership to unlock more use cases for Propy and demonstrate what
is possible for others looking to innovate in the real estate
space," said Parcl CEO, Trevor
Bacon.
Parcl's advancements have led to groundbreaking products,
including the world's first real-time home price index, setting the
stage for the next generation of housing applications, machine
learning, and analytics. By leveraging this novel price index and
Parcl's real estate data API layer, the Propy ecosystem provides
users with the best tools to engage with onchain real estate,
promoting more accessible and secure global real estate
markets.
About Propy
Propy is a leader in real estate transactions and offers
management for brokers and agents. The platform covers the entire
transaction process securely and efficiently, from offer to close.
Brokerages nationwide trust Propy's SaaS platform for its automated
notifications, e-signatures, analytics, and compliance tracking,
ensuring property deals are closed quicker, easier, and more
cost-effectively.
For more information, visit https://propy.com/home/
Media Contact:
pr@propy.com
About Parcl
Parcl is a DeFi protocol that allows users to trade
the price movements of real estate markets around the world. Users
can browse global real estate markets, gain detailed insights, and
have the opportunity to either buy or short real estate markets
based on whether they think real world property values will
increase or decrease. To provide users with the most accurate and
reliable data to trade on, the Parcl Protocol is powered by the
Parcl Labs Price Feed, which represents the median price per square
foot/meter, aggregated at either the city or neighborhood level,
and updated daily. Parcl bridges traditional real estate
investments with cutting-edge blockchain technology to provide
data-driven solutions for modern investors.
For more information, visit https://parcl.co.
View original
content:https://www.prnewswire.com/news-releases/10-billion-in-real-estate-and-200-000-onchain-addresses-on-propy-dapp-ready-for-tokenization-302200945.html
SOURCE Propy