As a seasoned crypto investor with a strong background in real estate and blockchain technology, I find Blocksquare’s latest collaboration with Pieme to be an exciting development in the world of decentralized finance (DeFi) and tokenized real estate investments.
“Pieme, a blockchain hotel investment platform, has teamed up with Blocksquare to debut their pool funding marketplace for new projects.”
Based on the announcement made on July 24, Pieme is set to assume the role of operator for Blocksquare’s new real estate tokenization marketplace infrastructure. Commencing on July 30, this marketplace will employ Blocksquare’s Oceanpoint decentralized finance (DeFi) launchpad in order to facilitate fractional investments in the hospitality sector. This innovation enhances the accessibility of hotel investments for potential investors.
Pieme’s platform caters to a varied group of investors aiming to invest in community-owned hotel residences with affordable entry points starting from $150. Through the use of blockchain technology, Pieme empowers users to keep track of reservations, manage stays, and engage in operational activities.
Pieme’s systems handle all operational, maintenance, and marketing aspects related to hospitality for streamlined purposes. Pieme is in the process of completing its first hotel-residence project in Kampala, Uganda. The company intends to expand into other African cities and engage with emerging markets to foster greater growth. Oceanpoint marketplace will facilitate the creation and administration of tokenized real estate marketplaces that run on the Blocksquare protocol.
Marketplace administrators can put forth project proposals for the community’s consideration and initiate a vote among stakeholders. Community members participate by committing their staked BST tokens, represented as stBST, to back projects they find noteworthy. For a campaign to succeed, it must accrue at least 500 stBST in deposit and amass up to 100,000 stBST to secure community approval and extra Annual Percentage Yield (APY) rewards.
In a statement released on May 29, Blocksquare disclosed that they had already tokenized $100 million in real estate value as of that time. Founded in 2017, Blocksquare’s solutions are now reportedly being utilized in 21 different countries. The company acts as the infrastructure for marketplaces managed by trusted third-party intermediaries, linking potential investors with real estate managers.
In a recent interview, Denis Petrovcic, CEO and co-founder of Blocksquare, discussed the steps taken by their development team to safeguard the funds secured within the protocol from being misplaced or stolen.
Blocksquare’s framework and commercial strategy center around third-party managed markets, referred to as Certified Partners (CPs). These authorized partners are enrolled in our smart contract network and have the ability to establish their own marketplaces for tokenized real estate.
“This setup is a security feature of the platform that ensures both the CP (Contract Provider) and community members are dedicated to the pool’s prosperity. The CP must deposit at least 500 sBST as collateral, serving as a pledge for satisfactory performance and safeguarding investor interests.”
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2024-07-29 12:41