PARIS, ILE-DE-FRANCE, FRANCE, September 11, 2020 /EINPresswire.com/ — French real estate social network Vave.io succeeded the world’s first end-to-end real estate tokenization. From the private fundraising to the distribution of dividends, transactions are managed by smart contracts within the Ethereum network.
The mode of circulation of financial flows is changing day by day, due to several macroeconomic, health and geopolitical factors. Traditional financial institutions find it difficult to complete credit operations with more constrained « credit risk departments ».
Financing through crypto assets is now finding its place in real estate or other sectors with tangible underlying, even if these operations remain discreet in terms of size, they nevertheless attract new types of investors and crypto-traders. The curve is growing thanks to proposed attractive yields.
Vave.io has brought together several real estate developers in a deal to tokenize a total of $ 122.5M in rental real estate.
The first project of $1.6M has a 11.38% rental profitability. It is a large chalet in the French Alps, a famous ski resort that does not offer enough similar accommodation. It was published and promoted on Vave.io by Laurent Faille, french expert in real estate development.
The private sale was completed in record time with a frictionless customer path and a streamlined legal process.
Laurent Faille, thrilled with the outcome of the operation reports:
"In these unusual times, Vave's technology was decisive thanks to the privatization of the real estate transaction, the legal flexibility on decentralized platforms trading like Uniswap, Kyber, or Balancer" Such an operation with a bank would have taken twice as long with a random result. With VAVE.IO, we appreciate the real-time registration of people from all over the world in our club deals."
Liquidity will be added by holders on DEXs for all the properties linked to the deal, a step forward from real estate towards DeFi. Vave.io CEO Mehdi Radi stated:
"Offering automated distribution of dividends through smart contracts reduces cost for property managers when distributing rental income to token holders. Vave can therefore propose an entry ticket as low as $10. This offers everyone the new possibility to participate in a profitable real estate project usually reserved for professional investors."
Building on its success, Vave has launched an Ambassador Program targeting national real estate developers willing to manage the franchise of Vave in their respective countries.
Source: EIN Presswire