How Real Estate Tokenization Differs From Initial Coin Offerings
Rachel Wolfson has been covering the cryptocurrency, blockchain and Web3 sector since 2017. She has written for Forbes and Cointelegraph and is the host and founder of Web3 Deep Dive podcast.
Tokenization has quickly become one of the best use cases for blockchain technology. Real estate tokenization in particular has been disrupting the sector recently.
Worldmetrics Statistics show that over $10.3 billion was raised through real estate tokenization globally in 2021. In addition, the global real estate tokenization market is projected to reach $4.22 billion by 2027.
While real estate tokenization is still a relatively new concept, a number of use cases are starting to emerge.
For example, it was recently announced that the oldest church in Fort Collins, Colorado—known as “Old Stone Church “—will be tokenized. This is being done in an effort to raise $2.5 million to secure ownership. The Colorado House of Prayer, a network of affiliated church groups, aims to purchase the church by issuing tokens that represent ownership.
One Hope of Colorado Becomes the First-Ever to Tokenize a Church
Creating Opportunities to Acquire Historic Landmark Church, Build Community and Support its Mission
Real World Asset Tokenization Completed on REtokens Platform via Polymesh@REtokensUSA, the company tokenizing…
Natalia Karayaneva, CEO and Founder of real estate tokenization platform Propy, further told Crypto news that in the past six months, Propy had minted over 240,000 home addresses. She noted that more than 100,000 American homeowners have minted addresses on the Propy blockchain for tokenization use cases.
“These homeowners are circumventing the issues presented by the traditional market by looking for instant digital experiences with low
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