Telos Tokenizes Real Estate In Croatia

Telos has announced that it will work with the Dapp Katalyo development platform to tokenize Croatian real estate worth $35 mln. According to Telos, Katalyo will issue two tokens for each participating coastal property. One token will represent ownership of real estate, and the other will represent a fiat-based stablecoin generated from rental income.

Katalyo co-founder Ivica LJUBICIC considers Telos "extremely suitable" blockchain for real estate tokenization. In addition, the move to blockchain could help attract investors to the Croatian real estate market. The partnership with Katalyo could lead to "explosive growth of new tokenized projects," according to Douglas HORN, chief architect of the Telos blockchain.

Note that tokenized real estate rose sharply in price even in the early stages of the pandemic. In April, its cost rose by an average of 4.27%. However, industry experts don't believe blockchain will be as usable or useful in real estate as it is hyped.

Image courtesy of Blockcadvocate