Aqarchain, UAE-based leading Proptech, FinTech and hybrid real estate investing platform, has launched the first dedicated global blockchain-powered real estate crowdfunding marketplace.
The blockchain platform was launched during the Future Blockchain Summit in Dubai, held in conjunction with GITEX 2021, to offer fractional non-fungible tokens (NFT) for properties.
The real estate property is the asset and is divided for tokenized fractional ownership. Each fractional NFT is one share in the asset. The tokenized share is lucrative for both buyers and sellers as anyone can easily transfer ownership without the hefty overhead costs, coupled with easier liquidation and efficiencies when transferring these shares.
“The Aqarchain platform, our flagship product, is a crowdfunding investment platform that aims to make investing in real estate as easy as investing in shares in the stock market. Our real estate fractional NFTs will be issued on the Polygon Chain, but in the future, we will be able to bridge them to other chains including Ethereum, Binance, Tezos, and Polkadot depending on how our Decentralized Autonomous Organization (DAO) token holders vote. In doing this, we will be offering a bigger secondary marketplace to trade these NFTs.”
According to Mr. Nakhwa, by dividing the property into divisible shares of each square centimeter, Aqarchain is allowing investors to invest in minimum value. Investors always have an option to increase or decrease their share percentage in the Asset. This enables even retail investors to invest in what is usually reserved for the larger corporates and professional investors.
In addition, Aqarchain will implement the DAO governance model, where owners of fractional NFTs vote for the governance of the property, return on the property, appreciation or depreciation of value, as well as vote on which properties get listed on the platform.
Aqarchain will first list properties in the UAE, followed by properties in London, Europe, and the US. Fractional NFTs will initially be traded on the Over-the-Counter (OTC) market, but these NFT utility tokens will soon be listed on secondary exchanges.
Early investors in Aqarchain include High net worth individuals from Saudi Arabia and UAE, who have invested in their capacity. Aqarchain is accelerated by TDEFI and is supported by Tezos, UAE Deca4 Gstatic, Khawarizmee, Girnas Capital token Suite, Bullish, SL2 Capital and Build Blocks Group.