Investing.com -- Blocksquare entered into agreement with Vera Capital to tokenize $1 billion worth of real estate assets across the United States, Investing.com has learned.
Blocksquare, which is developing the infrastructure that enables the tokenization of real estate globally, said this move is set to transform a vast portfolio of commercial and multifamily properties into accessible investment opportunities through blockchain technology.
On the other hand, the partnership will see Vera Capital launching a digital marketplace, utilizing Blocksquare’s white-label platform to offer global investors tokenized shares of institutional-grade properties.
The initiative began with the tokenization of a commercial property in Fort Lauderdale, valued at $5.4 million, promising a 5% annual return and potential for redevelopment.
Denis Petrovcic, CEO of Blocksquare, highlighted the scale of the collaboration, "Vera Capital’s $1 billion roadmap signals a major turning point for real estate tokenization in the United States," emphasizing the move from experimental blockchain use to full-scale deployment aimed at a global investor audience.
The alliance between the two companies was further solidified as Vera Capital swiftly completed a staking campaign on Blocksquare’s Oceanpoint RWA Marketplace Launchpad. The campaign, which exceeded expectations by securing over 100,000 staked $BST tokens in just one hour, was initially set to last 29 days.
Vera Group, with a foundation dating back to 2012 and managing over $100 million in real estate assets, brings extensive expertise. The upcoming marketplace is poised to tokenize a collection of properties across seven states, with the official launch anticipated in the near future.
Blocksquare is operating in over 20 countries. The company connects the sizable $300 trillion real estate market with the Web3 space, offering compliant and scalable solutions for property owners, marketplace operators, and decentralized finance ecosystems.