By Riley Kaminer
AI, web3 and real estate – oh my!
You’re not in Kansas anymore, Dorothy. You’re in Miami, where three of the most dynamic, tech-fueled asset classes will converge on November 3.
“We want to bring together the tech community and the real estate community in Florida,” said Natalia Karayaneva, CEO of Propy. Refresh Miami. “We’re doing this both for local and to attract talent to Miami to continue making Florida the place for innovation.”
Karayaneva emphasized that the timing of this event was particularly auspicious. AI has been a major topic of conversation all year. The price of Bitcoin has doubled since the start of the year, while that of Ethereum has increased by around 50%.
And of course, the real estate market continues to be shaken by rising interest rates, where Karayaneva says “an earthquake is happening.” Beyond these macroeconomic conditions, there has been a series of class actions filed against the National Association of Real Estate Agents which, according to Karayaneva, portend a future where consumers will have more power in the real estate sector.
Own is well positioned to take advantage of this trend, with its platform enabling 100% digital real estate transactions. Its AI-powered platform automatically reads purchasing contracts, creates transaction tracking, and automatically starts closing processes. Propy also offers agents a wide range of training opportunities to enable them to leverage the latest technologies to better serve their customers.
“Propy was the first company to introduce smart contracts, cryptocurrencies and NFTs in real estate,” Karayaneva claimed. “For us, this event is a platform to share all our know-how and learnings in the industry. »
Speakers will include City of Miami Mayor Francis Suarez, Sell Sunset Maya Vander and real estate mogul Elena Cardone. Karayaneva expressed particular excitement about the participation of traditional real estate brokers, who she said are beginning to understand that technologies like Propy are the future of the industry.
This year, Propy continued to grow 20% month over month. This is in stark contrast to the situation facing traditional title companies, which have seen a 50% drop in transactions.
Karayaneva said comparing Propy to traditional title companies is a bit like comparing Teslas to a normal car. “From the outside, it’s a car that requires the same license, that drives on the same roads, etc. But basically everything is different internally. Since Teslas are autonomous, Propy aspires to be a fully automated system for buying a home.
About six of Propy’s 30 full-time employees are based in South Florida. “We would like more,” Karayaneva said, signaling that she hopes to hire local talent with experience in sales and real estate.
Karayaneva, who has said she expects a crypto boom in 2024, has big aspirations for Propy to “put all the securities in the world on the blockchain.”
“I think this move will be unstoppable at some point, just like Bitcoin. We believe $280 trillion worth of real estate will become a foreclosure-resistant on-chain asset class.
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