Everyone wants to buy real estate.
BUT...it’s a pain.
Today’s project - Propy - aims to make the process a bit easier.
Let’s dig in…
Propy (ticker: PRO)
Wtf is this shit?
Today’s review will be short and sweet….which is generally a decent indicator of a project, it means that the pitch and overall scope is focused and direct.
ANYWAYS...many people want to invest in real estate, whether it be buying their own homes or investing in the foreign (international) real estate market. The process for buying and selling properties is slow and cumbersome with mountains of paperwork and numerous fees due.
Propy has created a real estate transaction tool in the form of a smart contract, Propy Registry. They mirror existing registry ledgers, and can automate the process of transferring ownership, confirming new ownership, and ultimately legally updating the ledger. THE HOPE is that Propy will be adopted as the official ledger for global property management, but this will take time to accomplish...quite a big task.
Propy is based on the Ethereum protocol, and PRO is an ERC-20 token that can be used in the Propy marketplace. They have a payment gateway and online documents which can be signed in order to store all of this information on the blockchain.
16,036,080 PRO tokens were issued from the ICO….there were bonuses given to some investors, so the actual number of tokens sold was 15,370,280 PRO at $1 each.
They have been gaining steam, probably because they are actually aiming for a practical use-case. They have already had houses bought and sold on the platform.
What will hold them back is the competition...as mentioned, we are skeptical that they will be adopted as an official ledger for legal purposes, but we wish them the best.
Who tf is behind this shit?
Their CEO is Natalia Karayaneva, who has 17+ years in real estate development. She works on Propy as well as her personal real estate ventures full time. She is also a managing director at a company called MP Group LTD.
All in all, mid-tier shitcoin mostly due to market metrics. Cool idea, big aspiration - let’s see how they do.
Hope you learned some shit and make sure to follow us on Twitter!
- Mike and Aaron