Propy, a real estate tokenization platform, and Parcl, a DeFi protocol specializing in real estate data, have announced a strategic partnership aimed at improving on-chain real estate analytics.
Parcl and Propy are teaming up to enhance the PropyKeys platform, which has already tokenized over $10 billion in U.S. homes and is expected to surpass $50 billion by the end of the year.
The Propy initiative will use the Parcl Labs API to improve real estate valuation and analytics. This access, gained by purchasing and staking the Parcl token $PRCL, hopes to bring more real estate markets to the blockchain.
Real Estate and Innovation on Chain
In just three months, Propy has successfully connected 200,000 addresses, including 80,000 homes in the US, 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 rental, listing and sales activity, which is indexed and accessible at the property level.
The goal of their collaboration is to provide advanced tools for users to interact with properties on-chain while enhancing accessibility and security in global real estate markets.
Natalia Karayaneva, CEO of Probi, stressed that this partnership enhances Probi’s mission to secure and upgrade the real estate market by providing accurate and transparent property valuations.
“Probie’s mission has always been to elevate and secure the real estate market, and our partnership with Barclays takes that vision to the next level,” Karayaneva added.
Trevor Bacon, CEO of Barclays, stressed the potential of this collaboration to set new standards in the real estate sector.
“We are excited about the potential to power other applications on-chain by leveraging Parcl Labs data,” Bacon said. “We expect the partnership to open up more use cases for Propy and demonstrate what is possible for others looking to innovate in real estate.”