Propy, a platform that tokenizes real estate, and Parcl, a DeFi protocol focusing on real estate data, have joined forces in a strategic partnership to enhance analytics for on-chain real estate transactions.
The collaboration between Parcl and Propy aims to improve the PropyKeys platform, which has already tokenized more than $10 billion worth of U.S. homes and is projected to exceed $50 billion by the end of the year.
Propy’s new initiative will utilize Parcl Labs API to enhance property valuation and analytics. By acquiring and staking Parcl’s $PRCL token, users will gain access to improved real estate market data, with the goal of bringing more real estate markets onto the blockchain.
In just three months, Propy has successfully onboarded 200,000 addresses, including 80,000 U.S. homes, many of which are currently available for sale. Parcl’s technology aggregates data from over 5,000 sources, providing a comprehensive database of housing market information, including rentals, listings, and sales activity at the property level.
The partnership between Propy and Parcl aims to provide users with state-of-the-art tools for engaging with on-chain real estate transactions while promoting accessibility and security in global real estate markets.
Natalia Karayaneva, CEO of Propy, highlighted that this partnership aligns with Propy’s mission to enhance and secure the real estate market by offering accurate and transparent property valuations.
“Propy has always aimed to elevate and secure the real estate market, and our collaboration with Parcl is a significant step forward in realizing this vision,” stated Karayaneva.
Trevor Bacon, CEO of Parcl, expressed excitement about the potential of this partnership to establish new standards in the real estate industry.
“We are thrilled about the opportunity to support other on-chain applications by leveraging Parcl Labs data,” said Bacon. “We anticipate that this partnership will unlock additional use cases for Propy and showcase the possibilities for those seeking to innovate in the real estate sector.”
The partnership between Propy and Parcl represents a significant advancement in the tokenization of real estate and the integration of blockchain technology into the housing market. By combining their expertise and resources, these two companies are paving the way for a more efficient, transparent, and secure real estate ecosystem.