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.
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