Bitcoin Press Release: Propy a new hot Real Estate platform on the Blockchain, has announced the end of their successful crowdsale campaign on September 15, 2017.
San Francisco, USA – September 15, 2017 – Propy, the global property store and decentralized title registry based on the Blockchain, has sold over $16 million worth of tokens through their initial token sale ending on September 15. This remarkable amount raised puts them in the top ten highest earning ICOs this summer.
Their strong performance can largely be attributed to their much-needed solution to the regulatory and fraud nightmare that is the international real estate market. The focus of the token sale mechanism was to attract more participants, which was successfully accomplished with over 6,500 people all over the world.
Propy aims to make real estate transactions faster, more secure, and more cost efficient through the use of the decentralized Propy Title Registry, which the company intends to become the core of a purely decentralized P2P real estate registry.
“Early and widespread support for Propy indicates a clear demand for digitizing of the $217 trillion real estate market and turning it into a commodity,” said Natalia Karayaneva, CEO of Propy.
Propy had a head-start on their token sale with two separate pre-sale purchases of $1 million. Scott D. Hughes, top-rated attorney from Orange County, CA, immediately saw the promise of the platform, having experienced with the real estate market he said, “Real estate is a huge untapped market in smart contracts, and Propy’s technology is poised to disrupt this sector.”
The 15% bonus offered to pre-sale supporters was a clear incentive as well. “The Propy Token Sale is one of the most exciting opportunities I have seen in a while,” said Debby Chiu the other large contributor in Propy, “With the world more connected than ever, investors and would-be homeowners alike are looking for a better and easier way to buy and sell real estate internationally. Propy is well-situated to be that solution.”
A further boost to early funding came in the first hour of the crowd sale with a $300,000 contribution from the investment company RenGen. “I’m incredibly excited to be a part of this innovative real estate project,” said the founder of RenGen. Crunch Fund also got in on the action during the private pre-sale event. Crunch Fund stated, “Propy has an incredible team backing it and has already landed key contracts, proving the value of the platform.”
Propy’s newest team member – a legislative researcher is Vasilios Vutsadakis Ph.D., an MIT graduate, scientist and patent author with experience in computational physics, programming, legislative research. Vasilios has an extensive experience in Propy’s area as a private investor in Real Estate in EU and Russia.
Vasilios as a scientist has proposed and set up of the first ever commercial production facility in a US National Laboratory; proposed and realized as a resident scientist, on behalf of a Fortune 500 US manufacturing company, a Research and Development agreement at the largest Russian cyclotron national laboratory.
Vasilios has been assisting Propy for the last few months to analyze and identify the weaknesses of the legacy real estate transaction registration systems in California, Vermont and EU. Within his new role he is managing workshops with the engaged governments.
Propy’s blockchain technology will allow for real estate smart contracts to be executed in real time while following local regulations, simplifying international real estate deals. They have already established a real world presence through their signing of an agreement with the government of Ukraine to implement e-deeds through the Propy platform.Additionally, the team is also in discussions with Vermont and California governments and have agreements with Chinese and Dubai’s real estate players. By the end of the year first transactions will be happening in some of these jurisdictions.
With the end of the token sale in sight, the team has their eyes set on their next steps as they continue to develop the Propy ecosystem and seek out more real transactions happening on the platform as they state at their blog post: https://blog.propy.com/what-is-coming-up-after-the-token-sale-bdf8e0366519
About Propy
Propy is the world’s first international real estate marketplace, aimed at solving the problems of purchasing property across borders. Propy facilitates connections between international entities to enable the seamless purchase of international real estate online.
The Silicon Valley-based company is advised by Michael Arrington (founder of TechCrunch), Vinny Lingham (CEO of Civic), David Cowan (Partner at Bessemer Venture Partners), Alain Pinel (Intero Real Estate), Daniel Kottke (formerly of Apple), Mike Costache (Managing Partner at KrowdMentor & d10e), and Jeremy Gardner (EIR at Blockchain Capital)
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