- Enjin announces a collaboration with LABS Group.
- Labs Group will use Enjin’s platform to offer tokenized real estate properties.
- Retail investors will be able to buy fractionalized deeds for as low as $100.
Today Enjin taps into the real estate market with fractionalized deeds on the blockchain. To make that happen, LABS Group will use Enjin’s minting platform to allow real estate investments from everyday people for as little as $100.
Enjin was approved by the Japanese Government not long ago, making it the first gaming cryptocurrency with the Government’s blessings.
The real estate tokenization is just an example of what Enjin’s NFT management platform can be used for.
“Blockchain has proven that everyday people are searching for opportunities to put their money into assets that grow in value,” said Maxim Blagov, CEO of Enjin. “The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It’s only a matter of time before real estate is tokenized. Together with LABS, we can be among the first movers to disrupt one of the world’s oldest markets.”
Retailers will invest in real estates such as buildings, hotel rooms, and apartments, while approved property developers can crowdfund through the retailers’ network. All trades will take place through the regulated LABS Security Exchange.
Tokenization of fractional shares can increase liquidity in the world’s largest asset class valued at $228 trillion.
“Enjin is considered one of the most experienced teams in the crypto-verse when it comes to NFTs,” said Yuen Wong, CEO of LABS Group. “We knew Enjin was the right choice when selecting a blockchain integration partner to represent our real estate assets. The team’s experience in building tech along with their partnerships made it a no brainer for us.”
George has a native interest in emerging technologies and he’s a strong advocate of decentralization. He is the founder and manager of egamers.io as well as an IT student.