Propy has its own contracts, yet it operates on the Ethereum blockchain. The acquisition is documented on-chain, and access to paperwork proving ownership of the property is provided. According to Karayaneva, Propy’s objective is to grow this technology internationally.
“This is only the first sale in our pipeline, and we’re seeing a lot of demand” stated by Propy CEO Natalia Karayaneva. After getting over 3000 potential buyers, the property in Florida was sold for USD 653,163 or 210 ETH.
The transaction gained attention due to the fact that the owner received a non-fungible token as digital evidence of ownership as part of the agreement. The property was formerly held by Leslie Alessandra, the creator of a cryptocurrency firm named DeFi Limited. Among other assets, a condo in Florida will be sold under identical terms.
In 2021, Propy enabled the first-ever sale of an apartment through NFT in Ukraine. To date, the firm has raised over USD 16 million in venture financing and is supported by Tim Draper and Michael Arrington, among others.
