AssetBlock Launches Tokenized Property Trading on Algorand Blockchain
Real estate startup AssetBlock has launched a new platform for trading commercial properties linked to tokens on the Algorand blockchain.
Currently, the tokens are only available in pre-sale. Red Swan is holding investors’ funds in escrow and plans to distribute shares in April.
A high-profile venture between startups Fluidity and Propellr was quietly shelved this summer, underscoring the hurdles real estate tokenization faces.
The platform has been set up to help reinvigorate smaller towns and villages in rural Japan.
The blockchain startups will tokenize portions of properties financed by U.K.-based Alliance Investments.
A flurry of announcements related to property and blockchain in Korea and Japan were made in September.