Since 2020, median home prices have risen by 16%, while the median household income has increased by ~1% – from $76,660 in 2020 to $77,283 in 2024. For a median-priced home worth $417,700, a 15% down payment would cost $62,655.
Anthony Scaramucci & SkyBridge have partnered with Parcl, a Solana-based decentralized real estate trading platform that allows individuals to invest with as little as $1.
Parcl originally launched with six cities and has since added other cities including Las Vegas, Atlanta, Boston, Chicago, Denver, Philadelphia, Portland, Seattle, and Washington DC. International cities like Hong Kong, London and Jakarta are said to be coming soon. It was not immediately clear of the trading was exclusive for Accredited Investors.
In recent days, Parcl completed an airdrop for its native token, which soon saw some investors pulling funds.
The partnership strives to bring “greater accessibility to the global real estate market.”
Scaramucci said:
“The Parcl Ecosystem has developed a novel decentralized finance infrastructure to democratize access to global real estate investing. Transparent blockchain ledgers are revolutionizing finance, and we look forward to helping Parcl grow and expand its reach.”
The Parcl Ecosystem, whose cornerstone is the Parcl Protocol, a decentralized real estate trading platform, confirmed recently that it has entered into “a strategic relationship with SkyBridge Capital, a global alternative investment firm specializing in financial technology, digital assets, venture capital and multi-manager solutions.”
The Parcl Protocol offers “city indexes” that allow users to gain exposure to the price movements of real estate markets across the globe. It is “backed by Web3 firms, including Coinbase Ventures, Solana Ventures, Dragonfly, and Archetype.”
The Parcl team has supported “the development of decentralized perpetual futures smart contracts allowing users with a Solana wallet and as little as $1 USDC to gain exposure to the world’s largest market: real estate, through price indexes for specific cities and regions. Prices, based on median price per square foot/meter, update daily with real-time market insights from Parcl Labs, a cutting-edge real estate data provider that generates highly accurate insights from reservoirs encompassing millions of data points. ”
The decentralized trading platform operates “without a central authority, running autonomously with non-custodial accounts and trades executed directly between users.”
Trevor Bacon, Chief Executive Officer of Parcl said:
“SkyBridge has become a leader in building connections between traditional and decentralized finance, and we’re thrilled to have them join Parcl’s esteemed group of partners. We are excited to tap into the unique and powerful network behind SkyBridge and SALT to scale the Parcl platform.”