Fully functioning layer-1 mainnet announces fractional real estate NFTs tied to real properties

ekta-admin | June 2, 2022

Purchasing traditional assets is time-consuming, inefficient and expensive, making it nearly impossible for first-time investors.

Buying traditional assets can be an expensive, time-consuming and inefficient process. Consider the process of investing in real estate. Although rewarding in the long-term, real estate requires a significant amount of capital as an initial down payment, resulting in a serious barrier to entry for new investors. Not to mention, working alongside a bank or mortgage broker can be a multi-step process.

In part, this is what has made cryptocurrencies such an attractive investment. It is not uncommon to see early-stage crypto startups with creative applications of technology, like Ekta, increase in price by over 100 times if the team behind the project executes well. Ekta’s CEO, Berwin Tanco, has a long and successful history as a real estate developer, leveraging his background in securing world-class partners.

Ekta Real Estate NFT marketplace is available in a decentralized format, eliminating several steps needed in the investment process while still allowing investors to earn rental income from their investments without the hassle of chasing down tenants for rent.

Ekta has aimed to remove these inefficiencies by creating a single ecosystem that effectively bridges the physical world with the virtual one. The intent is that through their layer-1 ecosystem and many divisions within it, the platform can eliminate centralized governance systems and bring people from different backgrounds together. This has recently become evident through Ekta Real Estate, which uses its own blockchain to fractionalize interest-bearing physical assets.

The result is that anyone investing in an asset generates dividends, yield and other rewards while the real-world asset, and thus the digital asset, also appreciates in price. Ekta Real Estate will first become available under the leasehold models (i.e., buying and selling long term-leases of 50 years, for example). Users can expect this fractional nonfungible token (NFT) platform to be available in late March, with major multinational real estate developers launching their first offerings in April. Initially, investors must hold the EKTA token to participate.