EXCLUSIVE: Roofstock onChain Launches NFT Real Estate Marketplace Powered by Origin Protocol – Ethereum (ETH/USD), Origin Protocol (OGN/USD)

Origin Protocol, a Web3 pioneer in NFTs and DeFi, has partnered with online real estate investment platform Roofstock to bring blockchain innovation to the real estate industry.

Origin’s technology will power Roofstock’s Web3 subsidiary, Roofstock onChain (ROC), with a non-fungible token marketplace for tokenized real estate investments.

Currently, the real estate industry suffers from many inefficiencies. Sellers pay up to 10% of the value of their property in closing costs, and deals often take months to close. Using blockchain technology, RoofStock onChain said it allows users to buy and sell real estate for 2.5% in brokerage fees and 0.5% in market fees, which lowers trading fees. traditional sellers in the industry.

The platform supports the USDC stablecoin, a fully collateralized stablecoin pegged to the US dollar. Thanks to its extremely low volatility and widespread adoption, USDC USD/USD is the preferred medium of exchange for many real-world blockchain transactions.

The NFT backdrop: The market for non-fungible tokens is synonymous with digital art and expensive profile photos that crypto-savvy users are touting on social media. Still, NFTs have vast applications beyond digital art, and the veteran team at Origin Protocol recognizes that.

“At Origin, we recognize that innovation in the non-fungible token space is still in its infancy – a prospect that excites us,” says Matthew Liuco-founder of Origin Protocol.

“The power of digitally verifiable ownership through NFTs has many powerful potential applications in the real world. In fact, we’ve barely scratched the surface of the potential of this nascent technology. We predict that trillions of dollars of real-world assets will be tokenized as NFTs over the next decade. ”

Roofstock’s real estate solutions: Roofstock OnChain aims to make real estate investments more accessible, affordable, and transparent through its modified ERC-721 smart contracts built by Origin Protocol.

Since its inception in 2015, Roofstock has provided innovative solutions to enhance the real estate investment experience – symbolizing real estate on Ethereum ETH/USD may be the biggest advancement made by the platform to date. Earlier this year, Roofstock raised its Series E funding round led by Softbank at a valuation of $1.94 billion.

Head of Web3 Initiatives at RoofStock Sanjay Raghavan talked about the benefits of tokenizing real estate investments.

“Investing in real estate is often seen as a cumbersome process with high fees and lengthy transaction processes. “ROC’s partnership with Origin further simplifies the process of buying a property. Now anyone can buy and sell property through one of the first NFT marketplaces dedicated to tokenized real estate.

How it works: The ROC links ownership deeds to single purpose limited liability companies (LLC). By tokenizing each LLC’s unique membership as an NFT, full ownership of the corresponding property can be authentically transferred on-chain.

Although ownership is documented on-chain, all tokenized properties are subject to comprehensive inspections and document verification, providing buyers peace of mind to embrace this new chapter of digitized asset exchange.

Full details of the property and LLC will be accessible through the Marketplace, giving users all the information needed to conduct their own due diligence.

Blockchain enthusiasts have united around the principles of transparency, decentralization, and digital property rights.

Yet the digital property rights that provide real benefits to end users have yet to be fully realized, and the tokenization of real-world properties via NFTs brings us one step closer to realizing that goal.

About Roofstock onChain: Roofstock onChain is the web3 subsidiary of Roofstock, the leading digital real estate investment platform for the $4 trillion single-family rental home industry. Using blockchain technology, Roofstock onChain offers investors the ability to purchase tokenized single-family rental properties in minutes, reducing the time and cost of using intermediaries.

The company provides extensive resources for investors to buy, manage and sell investment homes online, including data analytics, property management monitoring and other tools.

About the original protocol: Founded in 2017, Origin Protocol is a web3 developer in the non-fungible token and decentralized finance verticals. Origin’s NFT platform, Origin Story, the platform’s NFT product, fueled NFT sales such as 3LAU’s record $11.7 million music sale, Charlie Bit My viral video sale Finger that made global headlines, Paris Hilton’s “Past Lives, New Beginnings” series drops and many more.

The company is the creator of the original dollars USD/USD, the first stablecoin to automatically accrue compelling DeFi returns while being held passively in users’ wallets. The native token of the entire Origin commerce platform is the Origin Token OGN/USD.

Courtesy picture.

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