Propy, the fastest-growing real estate tokenization platform, and Parcl, a DeFi protocol renowned for its advanced real estate data integrations, have unveiled a new strategic partnership aimed at revolutionizing the analytics of onchain real estate. Through this collaboration, Propy will leverage Parcl’s best-in-class data integrations to enhance the valuation and analytics capabilities of its PropyKeys initiative.
Major Milestone: $10 Billion Worth of Homes Minted
The partners announced that over $10 billion worth of U.S. homes have already been minted and are ready for tokenization within the Propy ecosystem. The total value of all properties minted on Propy’s decentralized application (dApp), PropyKeys, is projected to exceed $50 billion by the end of the year.
Enhanced Analytics with Parcl Labs API
Under the new partnership, Propy will utilize the Parcl Labs API to elevate its valuation and analytics capabilities. To access the API, Propy has acquired and staked the $PRCL token, a core utility of the Parcl Token. This integration will support Propy’s mission to bring more real-world assets (RWA) onto the blockchain, unlocking new opportunities for the platform.
Natalia Karayaneva, CEO of Propy, emphasized the significance of this partnership: “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. 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 onchain real estate landscape.”
Addressing the Real Estate Data Gap
Parcl has identified a critical gap in the housing market industry: the lack of comprehensive and real-time housing data for accurate market analysis and property valuation. In response, Parcl has developed technologies that aggregate data from over 5,000 sources, covering rental, listings, and sales activities at the property level. This establishes Parcl as a central repository for housing market information, positioning it as the real estate data layer of the world.
Trevor Bacon, CEO of Parcl, shared his excitement about the partnership: “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.”
Parcl’s advancements have led to the creation of the world’s first real-time home price index, setting the stage for next-generation housing applications, machine learning, and analytics. By integrating this novel price index and Parcl’s real estate data API layer, the Propy ecosystem offers users the most advanced 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, offering management solutions 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.
About Parcl
Parcl is a DeFi protocol that allows users to trade the price movements of real estate markets globally. Users can browse markets, gain detailed insights, and trade based on their expectations of real-world property values. The Parcl Protocol is powered by the Parcl Labs Price Feed, which represents the median price per square foot/meter, aggregated at city or neighborhood levels and updated daily. Parcl bridges traditional real estate investments with blockchain technology to provide data-driven solutions for modern investors.
Image by Luiz Cent from Unsplash
Read other stories: MOCHAX and Tokeny Collaborate to Launch Real World Asset Tokenization Project
MakerDAO to Invest $1 Billion in Tokenized U.S. Treasury Products