Gamified platform PropyKeys has officially launched its decentralized application (Dapp) on Base, introducing innovative features for minting addresses and deeds on-chain. This initiative, developed within the Propy ecosystem, focuses on blockchain-powered solutions for the real estate sector. PropyKeys seeks to revolutionize the $280 trillion real estate industry by eliminating traditional barriers to entry, making homeownership more accessible, and combatting deed theft.
The platform, deployed on Coinbase’s Layer-2 (L2) network Base, enables users to mint digital addresses, including renowned landmarks, corresponding to physical properties. Powered by the PRO token, PropyKeys recently completed a two-month invite-only beta testing phase, during which nearly 1,800 addresses were minted, including 300 global landmarks. Co-Founder and COO Andrew Zapo expressed enthusiasm for the platform’s reception during the closed beta, indicating significant demand for innovative real estate solutions on the blockchain.
PropyKeys aims to democratize real estate ownership by establishing a home address platform and storing property deeds on the blockchain. This approach ensures transparent and immutable property transactions, enhancing efficiency and security while reducing costs. Additionally, PropyKeys bridges the physical and digital realms, allowing users to create digital representations of real-world property addresses, similar to owning domain names for internet segments. Upon acquiring an address, users can transfer ownership to the corresponding property owner, enhancing staking power.
The platform’s features, including minting addresses and deeds, contribute to investor value and property liquidity in a crypto-native manner. By securely recording property deeds on the blockchain, PropyKeys combats deed fraud and ensures authenticity and ownership verification. The platform introduces three tiers of NFTs, facilitating digital proof of ownership and addressing critical issues like deed fraud and security risks. Moreover, PropyKeys introduces a series of new features, including RWA, AI, and NFT integration, providing an engaging and accessible introduction to real-world asset tokenization. These features include a staking mechanism and personalized AI-generated landmark NFTs, enhancing user engagement and property liquidity.
In summary, PropyKeys sets a new standard for property deed security by transitioning from paper-based to digital, algorithm-secured systems. The platform’s innovative features and commitment to transparency and security position it as a leader in blockchain-powered real estate solutions.