PropyKeys, a new gamified application, introduces a home addresses market onchain as part of the Propy ecosystem. This decentralized application (dApp) game is powered by the PRO token and launched on Base, a layer-2 network operating on top of Ethereum and part of the Coinbase ecosystem. Participants can mint their own or someone else's home addresses onchain and stake or sell them later.
Revolutionizing Real Estate with Blockchain
Real estate has long faced barriers to entry, including exorbitant title fees and inefficiencies. However, blockchain technology can simplify these processes. Propy and its ecosystem companies aim to make homeownership more affordable, seizure-resistant, and user-friendly. The $280 trillion market has remained stagnant, but PropyKeys seeks to change this by providing a fun entry point to the Propy ecosystem and onchain title ownership. Now, anyone can start their onchain journey by minting home addresses via PropyKeys, verifying ownership via Propy, and even creating instant property sales or micro mortgages within the onchain Propy ecosystem.
"Imagine a world where every property's rightful ownership is seamlessly encapsulated in an immutable onchain title," said Andrew Zapo, lead contributor to PropyKeys. "Picture a future where individuals can effortlessly engage in peer-to-peer property transactions or leverage their property holdings for micro mortgages. This future, underpinned by blockchain's trustless architecture, redefines property rights autonomy and, in turn, societal norms."
Unlocking Property Ownership with PropyKeys
PropyKeys addresses critical pain points in the real estate industry:
Democratized Minting and Trading
PropyKeys allows crypto natives to mint addresses, stake them, and seamlessly facilitate trades with property owners. Address NFTs can be minted for a PRO token fee. Home address holders and real owners of acquired addresses have advantages for the 3 tiers of NFTs. The tokenomics strategy includes collecting $PRO as a fee for minting onchain addresses and property titles. These fees are redirected to incentivize and reward the network of address owners, ensuring active engagement and network growth. Staking and governance participation also offer avenues for token holders to contribute and influence the ecosystem while earning rewards in $PRO tokens.
In the future, the community will be incentivized to provide loans for collateralized Real World Asset (RWA) NFTs via a secure protocol developed by the Propy ecosystem of partners.
Onchain Titles & RWA NFTs
Property owners can elevate their addresses to onchain titles, enabling them to stake these titles or convert them into RWA NFTs. These NFTs facilitate easy sales or micro mortgages, opening new avenues for property transactions.
Trust & Security
PropyKeys champions an onchain, open-source, and community-governed title registry, leveraging user trust. By replacing paper deeds with algorithm-based systems, the platform guarantees a trustworthy and secure environment for all users.
Get Your Real-World Address Minted Today
Visit PropyKeys.com today to mint your real-world address onchain and join the movement empowering accessible property transactions and ownership like never before.
PropyKeys' innovation embodies philosophical tenets of trust and transparency. The transition from conventional property registries to blockchain-based onchain titles instills trust in algorithms rather than centralized intermediaries. This philosophical shift reverberates beyond the real estate sphere, transcending into a broader societal paradigm that has started its rapid revolution with programmable decentralized money.
About Propy:
Propy is a pioneering platform that leverages blockchain technology to facilitate seamless transactions of real-world assets (RWA), with a specific focus on revolutionizing global real estate markets. As an industry leader, Propy specializes in providing secure and efficient solutions, ensuring an enhanced experience for buying and selling properties worldwide.
X (Twitter): https://twitter.com/PropyInc
Facebook: https://www.facebook.com/propyinc
Website: https://propy.com/
Media contact: andrew@propykeys.com
Disclaimer: This press release contains forward-looking statements and should not be construed as investment advice. The actual results may differ materially from those projected in the forward-looking statements.
Frequently Asked Questions
Should You Invest Gold in Retirement?
The answer depends on how much money you have saved and whether gold was an investment option available when you started saving. If you are unsure of which option to invest in, consider both.
Gold offers potential returns and is therefore a safe investment. It's a great investment for retirees.
Most investments have fixed returns, but gold's volatility is what makes it unique. This causes its value to fluctuate over time.
However, this does not mean that gold should be avoided. This just means you need to account for fluctuations in your overall portfolio.
Another benefit of gold is that it's a tangible asset. Gold is much easier to store than bonds and stocks. It can be easily transported.
As long as you keep your gold in a secure location, you can always access it. Additionally, physical gold does not require storage fees.
Investing in gold can help protect against inflation. It's a great way to hedge against rising prices, as gold prices tend to increase along with other commodities.
Also, you'll reap the benefits of having some savings invested in something with a stable value. Gold usually rises when the stock market falls.
You can also sell gold anytime you like by investing in it. Like stocks, you can sell your position anytime you need cash. You don’t even need to wait until retirement to liquidate your position.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Also, don't buy too much at once. Start with just a few drops. Next, add more as required.
It's not about getting rich fast. Instead, the goal is to accumulate enough wealth that you don't have to rely on Social Security.
And while gold might not be the best investment for everyone, it could be a great supplement to any retirement plan.
How much should precious metals be included in your portfolio?
To answer this question we need to first define precious metals. Precious Metals are elements that have a very high relative value to other commodities. This makes them extremely valuable for trading and investing. Gold is currently the most widely traded precious metal.
There are many other precious metals, such as silver and platinum. The price of gold tends to fluctuate but generally stays at a reasonably stable level during periods of economic turmoil. It is also relatively unaffected both by inflation and deflation.
In general, all precious metals have a tendency to go up with the market. However, they may not always move in synchrony with each other. The price of gold tends to rise when the economy is not doing well, but the prices of the other precious metals tends downwards. This is because investors expect lower interest rates, making bonds less attractive investments.
The opposite effect happens when the economy is strong. Investors choose safe assets such Treasury Bonds over precious metals. Since these are scarce, they become more expensive and decrease in value.
It is important to diversify your portfolio across precious metals in order to maximize your profit from precious metals investments. Furthermore, because the price of precious Metals fluctuates, it is best not to focus on just one type of precious Metals.
How much gold should you have in your portfolio?
The amount that you want to invest will dictate how much money it takes. Start small with $5k-10k. As you grow, it is possible to rent desks or office space. This way, you don't have to worry about paying rent all at once. Only one month's rent is required.
Also, you need to think about the type of business that you are going to run. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
As freelance work requires you to be paid freelancers, your monthly salary won't be as high as mine. This means that you may only be paid once every six months.
Decide what kind of income do you want before you calculate how much gold is needed.
I recommend starting with $1k-$2k of gold and growing from there.
Who is entitled to the gold in a IRA that holds gold?
The IRS considers anyone who owns gold to be “a form money” and therefore subject to taxation.
You must have at least $10,000 in gold and keep it for at most five years to qualify for this tax-free status.
Although gold can help to prevent inflation and price volatility, it's not sensible to have it if it's not going to be used.
If you plan to eventually sell the gold, you'll need a report on its value. This could impact the amount of capital gains taxes your owe if you cash in your investments.
To find out what options you have, consult an accountant or financial planner.
Statistics
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
irs.gov
bbb.org
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement accounts
How To
How to Keep Physical Gold in an IRA
The best way of investing in gold is to purchase shares from companies that produce gold. But, this approach comes with risks. These companies may not survive the next few years. Even if they survive, there's always the risk that they will lose money due fluctuations in gold prices.
The alternative is to buy physical gold. You'll need to open a bank account, buy gold online from a trusted seller, or open an online bullion trading account. The advantages of this option include the ease of access (you don't need to deal with stock exchanges) and the ability to make purchases when prices are low. It is also easier to check how much gold you have stored. You'll get a receipt showing exactly what you paid, so you'll know if any taxes were missed. There's also less chance of theft than investing in stocks.
However, there are disadvantages. Bank interest rates and investment funds won't help you. Also, you won't be able to diversify your holdings – you're stuck with whatever you bought. The taxman might also ask you questions about where your gold is located.
BullionVault.com is the best website to learn about gold purchases in an IRA.
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By: Media
Title: Mint and Trade Real-World Addresses Onchain With PropyKeys dApp, Part of Propy Ecosystem
Sourced From: news.bitcoin.com/mint-and-trade-real-world-addresses-onchain-with-propykeys-dapp-part-of-propy-ecosystem/
Published Date: Fri, 05 Jan 2024 08:15:37 +0000
