What is Propy?
Propy is the world’s first international real-estate marketplace. The team at Propy.com facilitates connections between international entities to enable the seamless purchase of international real-estate online for the first time. It is dedicated to solving the problems of purchasing property across borders.
Propy had announced that it will be introducing the property industry’s first ICO offering. ICO was initially planned on July25, 2017, but has been delayed and expected to be between 10th-15th of August, 2017, Date is yet to be announced, stay tuned.
According to PROPY's press release on June 30, 2017, “Propy…have today announced preliminary plans for a global cryptocurrency crowdsale to accelerate its two-year initiative to build a peer-to-peer real-estate exchange platform….The goal is to bring the $217 trillion world of overseas property transactions into the 21st century.
With a $340bn market size of all cross-border real estate trading annually, the addressable market of Propy is more than $3.5bn annually. Propy tokenizes these revenues and shares as part of the revenue with the token holders.
The commission that Propy takes from the final purchase price is smaller than other intermediaries in the process. Additionally, future expansions of the Propy.com platform will eliminate multiple intermediaries, creating a total fee structure which is far superior to other solutions."
Built on Ethereum, the platform promises to automate real time transaction process using smart contracts, enabling greater efficiency, lesser paperwork and lower costs for buyers and sellers in the global real estate marketplace.
Concept: Global Property Store with Decentralized Title Registry
Currency: PRO token
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