Benzinga - Parcl announced the launch of its platform on Tuesday to provide a novel approach to real estate investment.
The Parcl Protocol allows users to trade the price movements of real estate on a geographical basis. If you think that real estate in New York City is overpriced, for example, you can now bet on that with Parcl.
Parcl allows users to go long or short on the median home price in a given city, and create a unique portfolio based on this concept. The platform can be used for directional investment and hedging strategies in what is traditionally an opaque and walled-off asset class.
Prices are sourced from the Parcl Price Feed, which supplies the median price per square foot (or meter), aggregated at either the city or neighborhood level, and updated daily by Parcl Labs.
Currently, a handful of popular and trending cities are available to trade, with more coming later in the year.
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At first glance, it’s hard to tell that Parcl is a blockchain-based application. Parcl’s CEO, Trevor Bacon, says this is a key to onboarding more people into the blockchain space, “There’s a lot of dogma in the [blockchain] space which isolates it from the everyday user. We need to think about how to make it more inclusive.”
Parcl leverages the Solana (CRYPTO: SOL) blockchain as a fast and efficient way to deliver the Parcl product worldwide. Solana's cofounders recently highlighted Parcl as one of the most interesting projects being built on the Solana blockchain this year.
As part of the Protocol launch, Parcl unveiled its Valentine’s Day non-transferable NFT Collectible and Trading Contest, available exclusively to select communities in the Solana ecosystem. In addition, Parcl will be granting early access to the Parcl Protocol to select projects, unveiled throughout the week of Feb. 14 via the official Parcl Twitter.
The Parcl Protocol requires no minimum investment, is highly liquid, and carries low transaction fees, so investors can now trade their favorite neighborhoods just like they trade Bitcoin, Solana, or other crypto assets.
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