Project Concept
What is Propy? Propy is a blockchain-based platform built on Base (Ethereum Layer 2) that simplifies and digitizes real estate transactions. It uses blockchain technology, smart contracts, and tokenization to make buying, selling, and owning property more efficient and secure.
Initially, the company raised significant investments from the blockchain sector. In September 2017, it secured $15 million in a pre-sale and crowdsale of PRO tokens (ERC-20) according to its Whitepaper. Over time, several additional private investments followed, though their details remain undisclosed.
Propy caters to both traditional finance buyers and crypto investors by offering tailored solutions:
For traditional finance buyers, Propy provides:
- Speed and Accuracy: Propy AI extracts key data from contracts and automates multiple processes, saving time by using Oracle-verified data and AI-driven processing.
- Enhanced security: Ownership is settled both in the county records and on-chain, adding an extra layer of protection.
For crypto investors, Propy offers exclusive solutions:
- Purchasing real estate with cryptocurrency: The first and most well-known case was in September 2017, when Michael Arrington, founder of TechCrunch, purchased a 506-square-foot studio apartment in Kyiv, Ukraine, for approximately $60,000 worth of Ethereum (ETH) and Propy’s PRO tokens.
- Escrow services with Coinbase: Propy collaborates with Coinbase to provide a 30-day escrow period, during which the buyer’s crypto (BTC, USDC, ETH) remains securely held until the final transaction stage. This system allows sellers to receive payment in dollars while buyers avoid premature conversions that could trigger tax liabilities or unnecessary repurchase costs.
- Crypto-backed real estate loans: Buyers can take out loans using Bitcoin or Ethereum as collateral. This method is not a taxable event, allowing investors to purchase real estate without exiting their crypto positions and incurring taxes. The first such sale took place in January 2025.
- Real estate NFTs: Propy creates LLCs for property ownership, tokenizes them, and allows buyers to purchase properties as NFTs. When reselling, the buyer submits Know-Your-Customer (KYC) information, and the LLC ownership updates accordingly. The buyer can also “unwrap” the property from the LLC for traditional ownership.
- Kyiv, Ukraine Apartment (June 9, 2021): The world’s first real estate-backed NFT was sold for 36 ETH (~$93,000 at the time). The property was originally purchased by Michael Arrington in 2017.
- Gulfport, Florida Home (February 10, 2022): Propy’s first U.S.-based NFT-backed property sale featured a 2,164-square-foot house in Gulfport, Florida, which sold for 210 ETH (~$653,000). While over 3,000 potential bidders registered, only two actively participated in the auction.
- NFT registration and resale: Propy, with its service PropyKeys and its utility tokens Propy, enables the registration and resale of NFTs representing ownership rights to physical addresses, from private homes to world landmarks.
- Propy utility token trading: Propy’s token (PRO) has a total supply of 100M, a price of $0.7225, and a 24-hour trading volume of $10.73M (+25.07%).
Team, Community, and Marketing
The Propy team is led by:
- Natalia Karayaneva: CEO & President of Propy Title
- Anna Atencio: CEO of Propy Title
The company is highly active on social media:
Propy’s marketing strategy targets two primary buyer groups:
- Traditional finance buyers: The platform offers a faster, more secure transaction process using blockchain technology.
- Web3 buyers: Propy provides opportunities to use cryptocurrency for real estate purchases.
Conclusion
If we answer the question what is Propy, the platform immediately brings to mind a real estate company of the near future—one that accelerates and simplifies real estate transactions through automation while providing additional protection against fraudulent activities.
The digitalPropInvest.com portal focuses on exploring Investing in Real Estate through Web3, such as property fractionalization and rental models. However, it is important to note that these services are not yet part of Propy’s offerings. Although the development of NFT-based property rights registration through PropyKeys is of significant interest from a marketing perspective and in creating demand for the Propy utility token.
