The new platform will use blockchain-enabled tokenization to democratize real estate investing processes. It will be offered to approximately 200 to 300 beta testers, according to the company.
These testers will include investors seeking ownership opportunities across the globe, as well as real estate owners applying to post property on the platform.
“This is a closed beta for all of our early adopters. It’s a way in which we’re stress-testing the platform,” Metrospaces CTO Alejandro Laplana stated in the release. “We’re looking forward to seeing our beta testers’ feedback and constructive insights so we can polish and release a first-class platform when we go live.”
Due to the use of blockchain technology, MetroSpaces says the new platform offers a number of advantages and benefits over traditional platforms.
These include fractionalization (which lowers the barrier of entry for investment), democratization (enables participation from any investor globally), operational efficiency (smart contracts offer direct digital deals) and reduced liquidation time.
“This is a pivotal moment for us at Metrospaces. MetroCrowd’s unique platform creates a true distinction between Metrospaces and all other proptech companies,” Metrospaces CEO Oscar Brito stated in the release.
“We believe this beta and our upcoming launch are ideally timed to reshape the real estate market for coming generations.”
Metrospaces recently acquired a 50.6% equity stake in a 60,295 square foot office building in Houston, Texas; the company said this purchase is meant as a component in building its MetroCrowd platform.
In other recent fintech news, digital banking app Dave announced plans to join the NASDAQ via SPAC in early 2022. Evergrande also suspended trading on the Hong Kong Stock Exchange following rising debt milestones and battles with government officials.