Propy - $PRO, Asset Review
Figure A
Propy’s proprietary technology is changing how people approach real estate properties in the form of NFTs. Each time a transaction is made there is a record that is taken place on an immutable blockchain, providing transparency and access at any time. Propy has already been gaining a lot of traction throughout the USA and has been continuing to gain more awareness with Natalia Karayeneva leading the charge. In this article, we will discuss what Propy is trying to accomplish and how $PRO fits in.
Content:General Information-What is Propy
Propy Background
Propy Funding/Collaboration
Token Information-Tokenomics
Fractional Ownership
Additional Information-
Learn-and-Earn/Course
Technical Analysis
Conclusion
General Information-
What is Propy?
Propy is an entity that digitized real estate ownership in the form of NFTs. Digitizing one’s real estate with Propy, allows owners/sellers to have multiple advantages. Propy utilizes smart contracts to automate the entire sale process, required paperwork, and deed transfers. In many ways, this makes buying or selling properties hassle-free and sometimes cheaper. You may not need to hire certain professionals since some of the work is automated, eliminating the middle man. Propy is determined to simplify real estate transactions.
2. Propy Background
Propy Inc is project-based out of Palo Alto, CA, and founded by Natalia Karayeneva in 2017. Natalia is an award-winning real estate developer who utilizes automation to solve problems. She has an extensive background in domestic and international real estate, totaling 15 years of experience. She also possesses an understanding of crypto-economics. Natalia graduated from Oxford University with a Software engineering degree to complement her experience. With her technical education and real estate experience, she decided to bridge the gap by creating Propy that integrates NFTs into the modern-day real estate world.
3. Propy Funding/Collaboration
Propy Inc has been through both venture rounds and an ICO with the following firms: Tim Draper, Second Century Ventures, Reach, Arrington XRP Capital, Blocktree Capital, and Columbus Capital raising a total of 16.7 million dollars according to Crunchbase. Propy has also partnered with Helio to create the first crypto loan utilizing NFT real estate as collateral. You can read that twice because I was shocked when I read it. Taking a loan against your NFT real estate asset is a phenomenal use case as it again eliminates the middleman. Today, if you tried to borrow against a property you would need to connect with a few different professionals which would create a long drawn-out process. Abra has also partnered with Propy to expand their crypto-backed lending options for home buyers. There is no limit for what comes next.
Figure B
Token Information-
1. Tokenomics
$PRO(Propy) is an ERC-20 token that is used on the Ethereum network. Currently, the total supply of $PRO is 100,000,000 with a circulating supply of 57,896,591. $PRO is used as a payment token to pay for platform fees such as modifying and creating title and deed contracts. As for the distribution, 16% of tokens were allocated to token sale investors, 19% were sold after September 2018, 35% were allocated to a network growth pool, 15% were locked in for a year for donations, and the remaining 15 million will remain in the company wallet. At the time of writing, around 65% of the supply is held by the top 5 wallets.
2. Fractional Ownership via NFTs
Being that properties, over time will become NFTs on the blockchain, the possibilities are endless. One example of how NFTs will be impactful is fractional ownership. Fractional ownership allows shared ownership in NFTs and the possibility to cut up NFTs into as many options as you would like. So let’s say that you want to buy a house with a business partner. You can both own 50% of the house in the form of an NFT and it will all be live via the blockchain. You might say, “why is this necessary?” It's advantageous because, with the use of NFTs one can see things like, (1) when it was sold, (2) how much it was sold for, (3) who they can contact, and so much more.
Additional Information-
1. Learn-and-Earn/Course
Propy has created a program that incentivizes real estate agents to learn about the Propy ecosystem. Not only will real estate agents learn, but they will earn $PRO tokens for each task they complete on the program. The goal of the program is to onboard more real estate agents into the digital world of buying and selling via NFTs. They also launched a course for $497 that will teach users about “Crypto Real Estate” accordingly. Being that the crypto world is so new, there are lots of terminologies that one might not understand so this course makes it easy for existing real estate agents to learn about real estate with Propy.
2. Technical Analysis
Figure C
$PRO has had an amazing run from $.03 to $4.37 yielding ~140x returns! Ever since $PRO hit all-time-highs, we have seen the price fall towards a high time frame demand zone (purple box) which should act as a support region then the next purple if the first box is broken. Price is likely to consolidate in the purple box before making a new move. While these purple boxes are not guaranteed to hit, having a little* exposure is not a bad idea. The way the correction subdivides will give hints on how the next move plays out. Bottom structures typically take a long time to form and reverse when the bears are exhausted, so it's best to stay patient for a clear pattern. All in all, the price action of this chart is very bullish over the long term, and holding the support will be crucial.
Conclusion-
Propy is one of kind as to its breakthrough technology. It's the first of its kind as it digitized real estate in the form of NFTs allowing for easier transactions. I mean who doesn’t want to make buying/selling properties hassle-free? Propy also makes it simpler and faster to close out transactions as it eliminates the middle man. Looking at what Propy has done per Figure A, they have closed out over 4 billion dollars in transactions, which is nothing to gawk at. Additionally, Propy has been growing with over 10 job openings signaling steady growth. With Natalia’s background in real estate and understanding of crypto, I am bullish on what Propy will bring to the real estate world. Lastly, while I am excited to watch what Propy will do next, it is important to note that it isn’t correlated to the value of the $PRO token.