Morgan Creek Digital is joining a group of investors to back the new blockchain startup RealBlocks. The company allows investors to purchase micro-shares of real estate while giving firms a new way to raise capital through tokenized securities.
Built on the Ethereum blockchain, RealBlocks facilitates the sale of tokenized shares by using fiat or cryptocurrency. Investors can then trade the securities with token holders locally and around the world.
Crypto bull and Morgan Creek CEO Anthony Pompliano is a firm believer that tokenization is destined to take over the financial markets as more cumbersome instruments, such as fiat currencies and gold, fall out of favor.
“Every stock, bond, currency, and commodity will be tokenized at some point in the future.”
We’re going to tokenize the world & no one can stop us 🔥🔥 https://t.co/0mtufB9APk
— Pomp 🌪 (@APompliano) January 25, 2019
Regarding access to the new platform by retail investors, Pompliano says,
“As you know, this is the number one thing that I wish I could change. We are working on ways to build solutions for this problem. Will let everyone know when we figure it out.”
Greg Gilman, co-founder and managing director of Science Inc, believes the real estate market, which has remained stagnant for years with old-school processes, reams of paperwork and a high number of people and intermediates needed to settle transactions, is ripe for a tech overhaul.
“We believe that the real estate market, like nearly all asset classes, will be increasingly data-driven and digitized or digitally native, and we look forward to building on our history of transformative companies.”
Led by Science Inc., RealBlocks just completed a $3.1 million seed round backed by Morgan Creek Digital, Zelkova Ventures, Ulu Ventures and Cross Culture Ventures.
RealBlocks joins a growing list of firms that aim to revolutionize the real estate market through blockchain technology.