RealT entered the new year on strong footing after the RealToken tied to the company’s ”flagship” property — 9943 Marlowe Street in Detroit, Michigan — became the first security token to be listed on Uniswap, Ethereum’s most popular decentralized exchange and a breakout success story in its own right, in November 2019.
The project’s notably kept the hot streak up in 2020 on the heels of two significant milestones.
On the Up and Up
Last month, the project set the record for the largest property sold on Ethereum to date upon selling its 16200 Fullerton property, a 15-unit apartment complex, for $615,000 USD.
Of course, if Ethereum continues to become more popular in the years ahead and gobbles up bigger swathes of the real estate market, then there will surely be larger sales to come. Still, the fact RealT notched that milestone first speaks to the project’s established first-mover advantage, which can become increasingly valuable in time.
Moreover, just last week the RealT team announced that it has now crossed the $1 million milestone in tokenized real estate sales powered by Ethereum.
These feats are testaments to the fact that RealT arrived early, so to speak, and even more importantly they did so with a superior product. Investors whose Ethereum addresses are whitelisted can invest in real estate on a fractional basis and earn daily dividends that are paid out in the Dai stablecoin.
Right now, RealT is paying out some $10,000 a month to its “landlords of the future,” which breaks down to daily payouts of more than 300 Dai presently. The company’s Fullerton property is the king of the hill at the moment, as it’s paying out around 205 of that +300 every day.
Of course, these numbers are quite small compared to the wider global real estate market, which reached $280…