Aqarchain.io– A UAE backed lead PropTech, FinTech as well as the hybrid real estate’s investing podium, had recently unveiled its initial global blockchain powered real estate crowdfunding marketplace. As per the firm’s announcement, the blockchain platform was unveiled recently during the Future Blockchain Summit in Dubai (Zabeel Hall 4 Z4-54), held in tandem with GITEX 2021, for offering a fractional non-fungible token (NFT) for properties.
As per the firm’s interim reports, the real estate property is asset divided for the tokenized fractional ownership. Each of the fractional NFT is one share in the asset. The tokenized share is rewarding for both buyers and sellers as anyone can effortlessly transfer ownership without the hefty overhead costs, coupled with better liquidation, maintain the efficiencies when transferring these shares.
Statement from Waqas Nakhwa, Founder, CEO of Aqarchain
Waqas Nakhwa, Founder, CEO of Aqarchain, commented that, “The Aqarchain platform, our flagship product, is a crowd funding investment platform that aims to make investing in real estate as easy as investing in shares in the stock market. Our real estate fractional NFTs will be issued on the Polygon Chain, but in the future, we will be able to bridge them to other chains including Ethereum, Binance, Tezos, Polkadot depending on how our DAO (Decentralized Autonomous Organization) token holders vote. In doing this, we will be offering a bigger secondary marketplace to trade these NFTs.
Nakhwa also further added that, “We are proud to be the first global decentralized marketplace for fractional NFTs for properties. By dividing the property in divisible shares of each square cm we are allowing investors to invest in minimum value and spread the risk. Investors always have an option to increase or decrease their share percentage in the Asset. This enables even retail investors to invest in what is usually reserved for the larger corporates and professional investors.”
As per the firm’s report, Aqarchain will initially list possessions in the UAE, tracked by properties in London, Europe, and the US. Fractional NFTs will initially be traded on the Over-the-Counter (OTC) market, but these NFT utility tokens will rapidly be listed on secondary exchanges.
As per the firm’s announcement, clients can be utilizing the procurement for the fractionalized NFTs via crypto (BTC, USDT, Polygon, XTZ, and Ethereum) as well as the native AQR Token which purposes clients to have additional discounts. Aqarchain will have a staking platform for its Native AQR token and XTZ.
Additionally, the firm also announced that it will be implementing DAO governance model, where owners of fractional NFTs vote for the governance of the property, return on the property, appreciation or depreciation of value, as well as vote on which properties get listed on the platform.
As per the Aqarchain’s reports revealed that Early investors in the firm comprises of High-net-worth individuals from Saudi Arabia and UAE, who have capitalized in their volume.
Aqarchain is accelerated by TDEFI and is braced by Tezos, UAE Deca4 Gstatic, Khawarizmee, Girnas Capital token Suite, Bullish, SL2 Capital, Build Blocks Group. As per the statement from Aqarchain.io, it is currently registered its IEO on Emirex Exchange at a budget of 0.25 USD per token with bestowing until the cease of the IEO.
Press Release received on mail