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Blockchain-Based Real Estate Platform Raised $3.1M

By Anne W. | January 27, 2019
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Blockchain-Based Real Estate Platform Raised $3.1M in Capital Round Backed by Morgan Creek

RealBlocks, a blockchain-based real estate tech platform, announced it had secured $3.1 million through its latest seed funding round backed by digital assets manager Morgan Creek Digital.

According to the announcement, the funding round was organized by Science Inc. with participants including Morgan Creek Digital, Zelkova Ventures, Ulu Ventures, and Cross Culture Ventures. The specific amount of funds raised per company, however, was not officially disclosed.

RealBlocks is a decentralized platform that uses blockchain for real estate investors to engage in trading in domestic and international markets, with payment acceptance includes both digital and fiat currencies. The platform also enables the issuance of tokenized shares of private equity funds and allows for peer-to-peer trading at its bulletin board.

Accelerating capital formation with tokenization

Notably, RealBlocks claims to allow investors to participate in the emerging token economy. Commenting on his firm’s investment decision, Anthony Pompliano, the founder of Morgan Creek Digital, remarked:

“2019 is going to be an incredibly important year for blockchain projects […] One of our core theses at Morgan Creek Digital has been that every stock, bond, currency, and commodity will be tokenized at some point in the future.”

It has been reported that last year, Morgan Creek Digital, backed by Morgan Creek Capital with $1.5 billion in assets under management, has launched a new Digital Asset Index Fund in partnership with Bitwise.

The new fund allows accredited investors, pension funds, endowment managers and other types of institutional investors to gain direct exposure to major crypto assets including Bittcoin (BTC) and Ethereum (ETH).

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