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Highlights
- Established in 2016, Propy was founded to transform the process of buying properties.
- In 2021, Propy became the first company to complete the first auction of a real estate asset as a non-fungible token (NFT).
- Propy’s native crypto token, PRO, has expanded by 578 per cent in the last 12 months.
Technology has penetrated our daily lives and as emerging technologies like artificial intelligence and blockchain are evolving rapidly, it is expected that consumer behavior will change with time.
When it comes to the real estate industry, it is assumed that it is behind in terms of technology. The overall process of buying a property remains complex and slow across the world.
As the world steps into the era of automation, one company is exploring blockchain technology to reimagine the real estate industry.
We are talking about Propy, a real estate company that empowers real estate transactions through blockchain technology and automation. The cryptocurrency market has crashed in the last 24 hours, but Propy's native crypto token, PRO, has surged 75 per cent to US$ 0.65 per token. In addition, its 24-hour volume has skyrocketed by 217.6 per cent to $ 1,160,879, according to CoinMarketCap.
What is Propy?
Established in 2016, Propy was created to transform the process of buying properties and facilitating real estate transactions online.
The blockchain network allows Propy to generate sale and purchase agreements while performing ownership verification via a third party.
Notably, the offer is signed electronically by the persons involved in the deal. After the signatures, the agreement gets encrypted and recorded on the blockchain.
Recently, Propy became the first company to complete the first auction of a real estate asset as a non-fungible token (NFT). The property was situated in Ukraine and was sold for around 36 ETH.
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Propy (PRO) token price movement and prediction
According to CoinGecko, the PRO token has expanded by 578 per cent in the last twelve months and it was trading 2,056 per cent higher in comparison to an all-time low of US$ 0.0304 per token at the time of writing.
The PRO token has a circulating supply of 57,896,591 tokens and the total supply is 100 million tokens. If the token continues its current momentum, it could reach US$ 2 per token by the end of this year.
Bottom line
Blockchain technology could change the face of the real estate industry by removing the middlemen required in real estate deals, reducing fraud, and acting as a record-keeper.
As Propy is a pioneer of merging real estate transactions and blockchain technology, holding on to a PRO token could provide returns in the future. However, it is always important to research before making investments.
Also Read: Algorand rises amid crypto crash. What is ALGO's price prediction?
So, if you’re interested in the real estate cryptocurrency token, it is advisable to do your research and evaluate the growth potential of the PRO token.
