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Layer-1 mainnet introduces fractional real estate NFTs

Purchasing traditional assets takes time, is inefficient, and is prohibitively expensive for first-time investors.

Purchasing traditional assets can be a time-consuming, costly, and inefficient procedure. Consider the process of real estate investing. While real estate is a long-term investment, it needs a sizable initial down payment, creating a considerable barrier to entry for new investors. Not to mention the fact that collaborating with a bank or mortgage broker can be a lengthy procedure.

This is partly why cryptocurrencies are such an appealing investment. It is not rare for early-stage cryptocurrency firms with innovative uses of technology, such as Ekta, to see their price climb by more than 100 times if the team behind the project executes properly. Berwin Tanco, Ekta’s CEO, has a lengthy and successful career in real estate development, leveraging his experience to secure world-class partners.

The Ekta Real Estate NFT marketplace is decentralised, removing numerous steps from the investing process while still allowing investors to generate rental revenue without the inconvenience of tracking down renters for rent.

Ekta’s goal is to eliminate these inefficiencies by establishing a unified ecosystem that effectively connects the physical and virtual worlds. The platform’s goal is to abolish centralised governance structures and bring people from all backgrounds together through its layer-1 environment and numerous divisions. This was recently shown by Ekta Real Estate, which fractionalizes interest-bearing physical assets via its own blockchain.

As a result, everyone investing in an asset earns dividends, yield, and other rewards, while the underlying real-world asset, and hence the underlying digital asset, rises in value. Ekta Real Estate will first be available on a leasehold basis (i.e., buying and selling long term-leases of 50 years, for example). Users should anticipate the platform for fractional nonfungible tokens (NFTs) to open in late March, with large global real estate developers releasing their initial sales in April. To begin, investors must own the EKTA token.

 

Significant brand endorsement

In practise, the Real Estate fractional NFT (F-NFT) Model will enable consumers to browse a marketplace via a desktop or mobile decentralised application (DApp) and choose the appropriate asset to invest in. Each listing will include the cost, a projected return on investment based on verified real-world performance, photographs and videos, terms and conditions, and reward alternatives, as well as publicly available real-world documentation.

After purchasing EKTA and establishing a stake in an asset, purchases will be resolved instantly, with cheap costs and rapid transaction times. Once the F-NFT is in the user’s possession, the user will begin receiving monthly dividends and other perks. As with a traditional asset dividend, awards will be paid out depending on the asset’s total net profit from all revenue sources, including off-chain revenue and fiat transactions. Investors may sell their interest in the Ekta NFT Marketplace at any time.

“People all around the world seeking to profit from bitcoin investing are realising that there is no dependable way to transform their cryptocurrency into anything useful. Ekta Real Estate is poised to fill that void. We will provide early liquidity for real estate developers by utilising F-NFTs on Ekta’s blockchain (“EktaChain”), while also letting anyone to quickly purchase fractions of high-value, interest-bearing, fully managed investment properties,” explains Ekta CEO Berwin Tanco.

The team revealed that their first real estate venture will be a 206-unit, $100 million building in Bali that will be built and managed by a well-established and renowned organisation with government endorsements and collaborations with major worldwide companies.

Along with their NFT inventions, Ekta has placed a premium on sustainability projects, including on-chain and off-chain carbon credits, and MetaTrees, a play-to-earn game with real-world environmental benefits.

 

A profit with a mission

The team has deployed their mainnet, blockchain explorer (dubbed EktaScan), and bridge (dubbed EktaBridge) over the last four months, as well as their NFT marketplace. The team expresses their excitement about being listed on several decentralised (DEX) and centralised (CEX) exchanges, as well as earning the trust of and collaborating with the Veteran community to launch an NFT that benefits real-world Veteran communities and nonprofit organisations that serve them.

Through these efforts, the project has amassed around $300 million in total value locked (TVL), a ratio that is claimed to be among the greatest in all of crypto. Additionally, the team raised nearly $5 million in venture capital funding prior to the project’s launch.

Following the pilot in Q1 2022, users can anticipate the launch of the USDE (USD Ekta) stablecoin, followed by Luxe Assets such as fractionalized ownership of yachts and private jets, hotel partnerships, and Short Term Rentals (similar to Airbnb, but on-chain), all of which will be rolled out until 2023 and beyond.

Together, these initiatives are aimed at equipping users with the tools necessary to generate profit while serving a greater good through the tokenization of natural resources and property.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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