In a groundbreaking collaboration, Propy, a leader in real estate tokenization, has partnered with Parcl, a DeFi protocol renowned for its expertise in real estate data analytics. This alliance aims to significantly enhance the analytics capabilities of on-chain real estate through the PropyKeys platform.

PropyKeys, which has already tokenized over $10 billion worth of U.S. properties, is on track to surpass $50 billion by the year’s end. This strategic partnership will leverage Parcl Labs’ API to refine property valuations and analytics, a process facilitated by acquiring and staking Parcl’s native $PRCL token. This initiative aims to bring more real estate markets into the blockchain domain, promoting transparency and efficiency.

In just three months, Propy has successfully integrated 200,000 addresses onto the blockchain, including 80,000 U.S. homes, many of which are currently listed for sale. Parcl’s technology aggregates data from over 5,000 sources, providing a comprehensive repository of housing market information. This data encompasses rentals, listings, and sales activities, all indexed and accessible at the property level.

The collaboration’s objective is to equip users with state-of-the-art tools for interacting with on-chain real estate while enhancing accessibility and security in global property markets. Natalia Karayaneva, CEO of Propy, highlighted the significance of this partnership in furthering Propy’s mission. “Propy’s mission has always been to elevate and secure the real estate market, and our partnership with Parcl is taking this vision to the next level,” she stated.

Trevor Bacon, CEO of Parcl, expressed enthusiasm about the collaboration’s potential to set new benchmarks in the real estate sector. “We are excited about the potential to power other on-chain applications by leveraging Parcl Labs data,” Bacon remarked. “We expect the partnership to unlock more use cases for Propy and demonstrate what is possible for others looking to innovate in the real estate space.”

This alliance between Propy and Parcl is poised to revolutionize the integration of blockchain technology in real estate, setting a new standard for the industry and paving the way for future innovations.