The US Realtors Association Invests in a Blockchain Startup Selling Hilton Family Property

The US Realtors Association Invests in a Blockchain Startup Selling Hilton Family Property

The National Association of Realtors USA (NAR) announced funding for Propy, a startup from Silicon Valley known for its large real estate deals. It is reported by Forbes.

Investments were made under the Reach accelerator program, other financing conditions have not yet been disclosed. The partnership is expected to help promote Propy in the global real estate market.

Last year, the company made a deal to sell the Roman mansion of the XVI century, which was owned by Paris Hilton’s father.

Read more on the topic:

Richard Hilton Will Sell a $38 Million Mansion on a Bitcoin Auction

In 2017, the company participated in the purchase of an apartment in Ukraine by TechCrunch founder Michael Arrington.

According to the CEO of the startup Propy Natalia Karayaneva:

“We believe Propy is at the forefront of bringing automation and blockchain to real estate with its easy-to-use platform for agents, buyers, and sellers.”

Real estate is an illiquid market, which makes the blockchain startup a potentially strong candidate in the economy. Instead of searching for specialists and intermediaries for transactions, Propy seeks to reduce existing barriers by placing all the necessary entries and signatures on the blockchain.

According to the company, this allows buyers and sellers to save up to 25%. Now the platform Propy shows objects for sale in seven countries, including New York, London and Dubai.

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