The founder of Tether, EOS and Blockchain Capital, Brock Peirce, has invested in real estate tokenization firm EstateX. The amount of the investment an deal terms were not immediately available. EstateX is based in the Netherlands.
At the same time, Peirce is expected to become an advisor to EstateX to help guide it going forward.
EstateX aims to offer digital assets referencing real estate while enabling anyone to invest for as little as $100.
In a company release, EstateX CEO Bart de Bruijn said Pierce’s involvement is a game-changer for his company.
“His expertise, guidance, network, and commitment to innovation align perfectly with our vision of making the world a better place and empowering individuals through cutting-edge technology.”
Pierce said he believes in the power of technology to transform lives positively and joining EstateX is an opportunity to “make a difference in the world.”
EstateX is expected to offer fractional ownership of properties while facilitating the buying and selling of the assets or lending against the property – all via an App. “LaunchX” is said to allow buying and selling real estate through its Initial Real Estate Offering (IREO) platform.
EstateX is expected to gain regulatory approval in Germany by BaFIN and then to passport services across the EU.
EstateX will operate using two tokens, PROPX and payment token ESX.