Fully functioning layer-1 mainnet announces fractional real estate NFTs tied to real properties

Buying traditional assets can be an expensive, time-consuming and inefficient process. Consider the process of investing in real estate. Although rewarding in the long-term, real estate requires a significant amount of capital as an initial down payment, resulting in a serious barrier to entry for new investors. Not to mention, working alongside a bank or mortgage broker can be a multi-step process.

In part, this is what has made cryptocurrencies such an attractive investment. It is not uncommon to see early-stage crypto startups with creative applications of technology, like Ekta, increase in price by over 100 times if the team behind the project executes well. Ektas CEO, Berwin Tanco, has a long and successful history as a real estate developer, leveraging his background in securing world-class partners.

Ekta Real Estate NFT marketplace is available in a decentralized format, eliminating several steps needed in the investment process while still allowing investors to earn rental income from their investments without the hassle of chasing down tenants for rent.

Ekta has aimed to remove these inefficiencies by creating a single ecosystem that effectively bridges the physical world with the virtual one. The intent is that through their layer-1 ecosystem and many divisions within it, the platform can eliminate centralized governance systems and bring people from different backgrounds together. This has recently become evident through Ekta Real Estate, which uses its own blockchain to fractionalize interest-bearing physical assets.

The result is that anyone investing in an asset generates dividends, yield and other rewards while the real-world asset, and thus the digital asset, also appreciates in price. Ekta Real Estate will first become available under the leasehold models (i.e., buying and selling long term-leases of 50 years, for example). Users can expect this fractional nonfungible token (NFT) platform to be available in late March, with major multinational real estate developers launching their first offerings in April. Initially, investors must hold the EKTA token to participate.

Major brand endorsement

In practice, the Real Estate fractional NFT (F-NFT) Model will allow users to search through a marketplace on either a desktop or mobile decentralized application (DApp), where they can select the right asset to invest in. Each listing will be complete with the cost, projected ROI based on verified real-world performance, photos and videos, terms and conditions, and reward options, with real-world documentation readily available.

After buying EKTA and acquiring an assets stake, purchases will be settled in a matter of seconds, alongside low fees and quick transaction times. Once the F-NFT is in a users possession, they will receive their dividends and other rewards every month. Like a traditional asset dividend, rewards will be paid out based on the total net profit from all revenue sources of the asset, including off-chain revenue and fiat transactions that the asset generates in the real world. Investors may sell their stake at any time in the Ekta NFT Marketplace.

People around the world looking to reap the rewards of investing in cryptocurrency are discovering that theyre faced with no reliable option to convert their crypto into something they can use. Ekta Real Estate will fill that gap. Using F-NFTs on Ektas blockchain (EktaChain), we will be providing early liquidity for real estate developers while also enabling access for anyone to easily purchase fractions of high-value, interest-bearing, fully managed investment properties, says Ekta CEO Berwin Tanco.

The team has shared that their first real estate launch will include a 206 unit $100M development in Bali built and managed by a highly established and reputable company that has endorsements from the government and partnerships with major global brands.

In addition to their NFT creations, Ekta has made their focus on green initiatives, including on-chain carbon off-chain carbon credits, and a metaverse function for planting trees in the real world known as MetaTrees, a play-to-earn game with real-world green benefits.

A profit with purpose

Over the last four months, the team has launched their mainnet, blockchain explorer (known as EktaScan) and bridge (EktaBridge), as well as the teams NFT marketplace. The team shares their excitement of being listed on several decentralized (DEX) and centralized (CEX) exchanges and gaining the trust of and partnering with the Veteran community to launch an NFT that supports real-world Veteran communities and nonprofit organizations that serve them.

Through these efforts, the project now has around $300M in the total value locked (TVL), a ratio against its market cap that is said to be one of the best in all crypto. The team has also privately raised over $5M in venture funding before the projects launch.

Following the projects pilot in Q1 of 2022, users can expect the launch of the USDE (USD Ekta) stablecoin, followed by Luxe Assets, such as fractionalized ownership of yachts and private jets, hotel partnerships, and Short Term Rentals (similar to Airbnb, but on-chain), which will be rolled out until 2023 and beyond.

Together, these initiatives are built to give users tools to create profit with purpose through the tokenization of natural resources and property.