🚀 Crypto NYREF Makes Tokenized Real Estate Ownership in NYC a Reality

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For several years, the blockchain industry has promised that tokenizing real-world assets (RWAs), such as real estate and commodities, would improve access to expensive assets and bring liquidity to previously illiquid markets. The NYREF project has finally turned big promises into solutions with its New York City tokenization venture.

Tokenization is representing ownership of an asset, such as a property, with digital tokens on a blockchain. These tokens can be easily bought, sold, and traded, enabling a wider range of users to participate in the market.

Tokenization is especially relevant to real estate because it addresses this market’s inherent illiquidity and high entry barriers. Divining property ownership into smaller fractions represented by tokens makes it more accessible and affordable.

NYREF is using the Avalanche network to tokenize an $18 million property in New York City. Avalanche is a high-speed, secure, and efficient blockchain platform well-suited for tokenized asset trading.

Anyone can purchase tokens representing partial ownership of the New York City property through the project’s official marketplace. This opens up new opportunities to participate in the NYC real estate market and potentially benefit from rental income and property appreciation.

NYREF Brings Accessibility to the New York City Real Estate Market​

NYREF has used the Avalanche blockchain and its team’s expertise to tokenize a New York City property. The property is valued at $18 million, meaning without tokenization, it would be out of the price range of most.

However, NYREF believes that everyone should have access to the real estate market, and the only way to achieve this goal is through its tokenization solution and marketplace.

Tokenization offers several benefits that can improve the real estate market:

• Increased accessibility: Fractional ownership allows users to participate with smaller amounts of capital.
• Improved liquidity: Tokens can be easily traded on secondary markets, making buying and selling shares in the property easier.
• Enhanced transparency: Blockchain technology ensures that all transactions and ownership details are securely recorded and easily accessible.

NYREF has developed a full package that includes rental distribution and profit sharing upon sale. This means that token holders benefit from potential property appreciation and receive a share of the rental income generated by the property. This income is distributed automatically via smart contracts, ensuring efficiency and transparency.

Rental Income Distributed Automatically to Token Holders​

The first property tokenized in New York City by NYREF is 3187 Grand Concourse, a modern multi-family building in the Bronx’s Bedford Park neighborhood. This nine-story building features 32 residential units, offering residents spacious living areas, ample natural light, and convenient access to transportation and amenities.

The property generates rental income through a lease agreement with the US Government, ensuring a secure and reliable income stream for token holders. This agreement provides stability and minimizes the risk associated with vacancy or non-payment of rent.

The property earns a 5.52% annual return for token holders, with a minimum 3% yearly increase. Last year, rental prices increased by 13.2%, demonstrating the potential for strong income growth. This rental income is distributed automatically to token holders via smart contracts, ensuring efficiency and transparency.

Trading Tokenized Real Estate with NYREF​

The NYREF marketplace makes trading tokenized real estate simple.

To purchase tokens, visit the NYREF marketplace, create an account, complete the KYC process, and select your preferred cryptocurrency for payment. Accepted cryptocurrencies include USTD, USDC, AVAX, and Ethereum.

If you need help with the process or have any questions, support is available on the official social media channels.

Join the Real Estate Revolution​

NYREF Website: https://nyref.io/

NYREF Marketplace: https://marketplace.nyref.io/auth/sign-in

Telegram: https://t.me/NyrefPortal

X: https://x.com/nyrefcompany

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