Real Estate Backed NFT Platform Launched by Vesta Equity on Algorand

https://thefintechtimes.com/real-estate-backed-nft-platform-launched-by-vesta-equity-on-algorand/
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Vesta Equity, an innovator in the financial and real estate space, has launched its global real estate-backed NFT platform and marketplace on Algorand. Vesta is a peer-to-peer marketplace for real estate-backed NFT assets that lets homeowners easily leverage and sell a portion of home equity while simultaneously advancing housing affordability, economics, and frictionless investor accessibility to residential real estate.

Vesta’s solution allows property owners to easily access the value of their holding through tokenisation and selling percentages of real estate-backed NFTs to investors on its peer-to-peer marketplace. In turn, investors can browse a searchable marketplace, make offers for desired assets, and leverage liquidity on the secondary market or in the event of the traditional sale of the property.

Its goal is a 100 per cent seamless and automated process in which the century-old-complexities of home equity finance are removed. Vesta addresses the issue of real estate affordability while eliminating barriers to the market for all investors, democratising wealth creation by providing unhindered access to this bedrock of wealth creation.

To date, NFTs have been focused largely on digital assets. Vesta Equity directly couples a real-world, tangible asset and established values with the advantages of digital distributed technology. Vesta Equity developed its NFT platform and marketplace on Algorand because it is purpose-built as a fully decentralised, scalable, and secure blockchain that surpasses all other platforms thanks to its novel pure proof-of-stake foundation and its focus on enabling the transition from traditional finance models to the distributed future.

“Imagine a world where with a few clicks of your mouse you can access the entire accumulated value of the equity in your home without incurring debt or selling and moving,” said Michael Carpentier, CEO of Vesta Equity Inc. “At the other end, investors can participate by purchasing into the future appreciation of the property and build a portfolio of real estate assets like they do with stocks. With the forecasted rising value of residential real estate this is an extremely desirable asset class that we have simplified for anyone to leverage.”

“Vesta Equity is totally innovating the home equity market,” said Imran Rahaman, COO of Vesta Equity. “With today’s launch, we become an example of a company using blockchain for what it was designed: to remove friction from traditional exchange of value systems, and to open up new financial opportunities for people everywhere.”

  • Francis is a junior journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

https://thefintechtimes.com/real-estate-backed-nft-platform-launched-by-vesta-equity-on-algorand/