📖How It Works
Why parking lots? Why NYC? What's the point of the token? Read on for our answers to some of the most important questions while introducing the value of our protocol.
What are we doing?
We are raising funds on-chain, then liasing with professional real estate brokers and agents to purchase commercial real estate so we can pass the yield / revenue from said real estate back on-chain to our users.
Our first offering will be a parking garage in the heart of NYC, Manhattan.
Why parking lots?
Our team comes from a traditional finance background.
And in TradFi, the best thing to invest in when you have a ton of money is usually real estate.
Parking lots are one of the few forms of commercial real estate which has simple inherent value:
People in big cities will always need parking
Why can't I just invest in them myself?
There are quite a few problems that arise from wanting to get involved with these assets.
Namely:
Having access to dealflow (knowing the right brokers to purchase/lease the assets)
Friction with asset management
Dealflow
Our team has mixed experience in building on Web3, and finance (specifically private equity). We are also connected with some of the largest commercial real estate brokers / developers in NYC.
This has given us access to some of the best deals on the NYC commercial real estate market, which we want to bring to the table for the folks in crypto that want access to real world yield!
Friction
Our team understands the friction that comes with handling real estate. And with that in mind, our tokenization of the ownership of the real estate is ideal in terms of enabling clients to value their own tokens / sell them off. Details on the secondary market for said tokens will be released soon!