Propy and Parcl Labs Announce Strategic Partnership to Enhance the Analytics of All Onchain Real Estate Minted on PropyKeys

Propy, the fastest-growing real estate tokenization platform, and Parcl, a DeFi protocol built on best-in-class real estate data, have announced today a new strategic partnership to enhance the analytics of all onchain real estate minted on PropyKeys using Parcl's best-in-class data integrations.

Real estate tokenization platform Propy and decentralized finance (DeFi) protocol Parcl have announced a new strategic partnership to enhance the analytics of all onchain real estate minted on PropyKeys using Parcl's best-in-class data integrations.

According to a press release shared with Axios, over $10 billion worth of U.S. homes have already been minted and are prepared for tokenization in the Propy ecosystem. The total value of all properties minted on the ecosystem dApp, PropyKeys, is projected to exceed $50 billion by year-end.

Under this new partnership, Propy will leverage the Parcl Labs API to enhance valuation and analytics capabilities related to Propy’s PropKey initiative. The partnership should unlock future opportunities related to Propy’s efforts to bring more real estate markets (RWA) on the blockchain.

To gain access to the API, Propy acquired and staked the $PRCL token, as Parcl Labs API access is a core utility of the Parcl Token.

In just three months, Propy and PropyKeys have brought 200,000 addresses on-chain, including 80,000 U.S. homes minted by their true owners, many of which are currently for sale onchain.

“Propy's mission has always been to elevate and secure the real estate market, and our partnership with Parcl is taking this vision to the next level," said Natalia Karayaneva, CEO of Propy.

"By leveraging Parcl's advanced analytics and real-time housing data, we are providing unparalleled accuracy and transparency in property valuations, empowering our users with the best possible tools to navigate the on-chain real estate landscape."

Parcl has identified a critical gap in the housing market industry: the lack of complete and real-time housing data for accurate market analysis, property valuation, and advanced analytics.

In response, Parcl has developed innovative technologies that aggregate data from over 5,000 sources, covering rental, listings and sales activity, indexed and accessible at the property level. This establishes Parcl as a reliable central repository for housing market information.

"We are excited about the potential to power other onchain applications by leveraging Parcl Labs data," said Parcl CEO Trevor Bacon.

"Propy is a leader in the RWA space and continues to push the boundaries of what can be achieved by bringing physical real estate onchain. We expect the partnership to unlock more use cases for Propy and demonstrate what is possible for others looking to innovate in the real estate space."

Parcl’s advancements have led to groundbreaking products, including the world's first real-time home price index, setting the stage for the next generation of housing applications, machine learning, and analytics.

By leveraging this novel price index and Parcl’s real estate data API layer, the Propy ecosystem provides users with the best tools to engage with onchain real estate, promoting more accessible and secure global real estate markets.