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The international digital assets manager Morgan Creek Digital has just announced a major investment into the blockchain-based real estate startup RealBlocks. They are backing a $3.1M seed round into the new company.
Real estate has always been seen as the market sector most likely to be first revolutionized by tokenized securities. Although big-name purchases of real estate by cryptocurrencies have taken place before, along with the tokenization of some lavish properties, there still does not exist a tokenized market for real estate. RealBlocks is looking to fill this much-needed role with their Ethereum-based real estate platform.
Now, Morgan Digital Creek along with numerous other venture capital firms have taken notice and have announced major investments into the startup.
Morgan Digital Creek is a big believer in tokenized securities and it is their estimation that most if not all of our common financial assets will be represented on the blockchain in the future.
Another major investor in RealBlocks, Science Inc., commented on the investment as being in line with their prediction that future markets will be “increasingly data-driven and digitized.”
RealBlocks will aim to create a platform where investors can directly purchase properties using both cryptocurrencies and fiat currency with the aim of boosting liquidity to this historically illiquid market. The platform will also support tokenized offerings from private equity funds.
Morgan Creek Digital has been known for their other large investments in the blockchain space. For example, just last month the firm participated in a $4M investment in BlockFi which offers U.S. loans against crypto collateral.
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Image courtesy of RealBlocks.