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Red Swan and Polymath Tokenized Real Estate for $2.2 Bln

Anna Martynova

The real estate company Red Swan, together with the blockchain platform Polymath, tokenized commercial real estate worth of $ 2.2 billion. Red Swan reports that 30,000 accredited investors have already registered on the blockchain platform.

In the long term, it is planned to tokenize real estate worth of $4 bln. 16 real estate of the highest price category are presented in the form of 16 tokens — this refers to apartments in New York, California and Texas. It is expected that this will be the largest sale of tokenized real estate. Investors who have invested from $500,000 to $10 mln will be able to take part in the preliminary token sale.

Real estate tokenization has been developing rapidly. Recall that the Swiss real estate investment company BrickMark in January acquired a building in the prestigious street Bahnhofstrasse in Zurich, Switzerland. The deal for 134 mln dollars was closed using the blockchain. On February 8, the African tokenization platform Flyt announced plans to launch the first security token offering (STO) for real estate on the continent.

Image courtesy of Coin Central

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