UPRETS to Tokenize the Oosten Property in Brooklyn
The Oosten property, with the help of UPRETS, will open the real-estate market to a new type of investors by the tokenization of the projects a source from BusinessWire confirms.
“The global asset market is ready for a revolution through tokenization. Many people wish to be a part of this market, but the barriers to entry have been a major concern. Liquidity issues and the presence of many intermediaries make the process of trading securities not only tiresome but also time-consuming,” said UPRETS Team.
The private assets market is known to be illiquid thus, The Security Token Academy notes that the tokenization of these assets will liquify them and open up new doors and opportunities. The global real estate market is estimated at USD230 Trillion while commercial properties are valued at around USD32 Trillion.
“UPRETS intends to lead the rest in the real estate sector through this Oosten project. We want to open up real estate investments to everyone through blockchain technology. The future of blockchain is now. We have now moved from speculating what blockchain technology can do to actual usage.” added the UPRETS Team
UPRETS’ aim is not only limited to this Brooklyn-based project, the company plans to expand in international cities such as Dubai, London, and Singapore. The company views tokenization as democratization of the investment process. This will also help in making the property ownership process easier, more efficient and less costly.