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Propy, a real estate tokenization platform, and Parcl, a DeFi protocol specializing in real estate data, have announced a strategic partnership aimed at improving analytics for on-chain real estate.
Parcl and Propy are teaming up to enhance the PropyKeys platform, which has already tokenized over $10 billion worth of U.S. homes and is projected to surpass $50 billion by the end of the year.
Propy’s initiative will use Parcl Labs API for improved property valuation and analytics. This access, obtained by acquiring and staking Parcl’s $PRCL token, hopes to bring more real estate markets onto the blockchain.
Real estate and on-chain innovation
In just three months, Propy has successfully on-chained 200,000 addresses, including 80,000 U.S. homes, many of which are currently for sale.
Parcl’s technology aggregates data from over 5,000 sources, offering a comprehensive repository of housing market information. It examines rentals, listings, and sales activity, which are indexed and accessible at the property level.
Their collaboration goal is to offer users cutting-edge tools for interacting with on-chain real estate while fostering accessibility and security in global real estate markets.
Natalia Karayaneva, CEO of Propy, emphasized that this partnership enhances Propy’s mission to secure and elevate the real estate market by providing accurate and transparent property valuations.
“Propy’s mission has always been to elevate and secure the real estate market, and our partnership with Parcl is taking this vision to the next level,” Karayaneva said.
Parcl CEO Trevor Bacon highlighted the potential for this collaboration to set new standards in the real estate.
“We are excited about the potential to power other onchain applications by leveraging Parcl Labs data,” Bacon said. “We expect the partnership to unlock more use cases for Propy and demonstrate what is possible for others looking to innovate in the real estate space,”