Propy and Parcl team announce $10b in homes ready for tokenization

Real estate tokenization platform Propy and Parcl, a DeFi protocol specializing in real estate data, have announced a strategic partnership aimed at improving analytics for on-chain real estate.

Parcl and Propy are collaborating to develop the PropyKeys platform, which has already tokenized $10 billion worth of U.S. homes and is expected to exceed $50 billion by the end of the year.

Propy’s initiative will leverage Parcl Labs’ API for improved property valuation and analytics. This access, gained by acquiring and staking Parcl’s $PRCL token, hopes to bring more real estate markets to the blockchain.

Real estate and on-chain innovation

In just three months, Propy has successfully chained 200,000 addresses, including 80,000 US homes, many of which are currently for sale.

Parcl’s technology aggregates data from over 5,000 sources, providing a comprehensive repository of housing market information. It examines rentals, listings, and sales activity, indexed and accessible at the property level.

The goal of the collaborations is to provide users with cutting-edge tools to interact with on-chain real estate while promoting accessibility and security in global real estate markets.

Natalia Karayaneva, CEO of Propy, emphasized that this partnership strengthens Propy’s mission to secure and elevate the real estate market by providing accurate and transparent real estate valuations.

“Propy’s mission has always been to elevate and secure the real estate market, and our partnership with Parcl takes this vision to the next level,” said Karayaneva.

Parcl CEO Trevor Bacon highlighted the potential of this collaboration to set new standards in the real estate sector.

“We are excited about the potential to leverage Parcl Labs data to power other on-chain applications,” said Bacon. “We expect the partnership to unlock more use cases for Propy and showcase what’s possible for others looking to innovate in the real estate space.”