Blocksquare announced the launch of its new marketplace pool funding with blockchain hotel investment platform Pieme.
According to a July 24 announcement, Pieme will act as the operator Blocksquare’s new real estate tokenization market infrastructure. Starting on July 30, the marketplace’s pool funding round will leverage Blocksquare’s Oceanpoint decentralized finance (DeFi) launchpad to allow for fractional investment in the hospitality sector — improving accessibility to hote investment.
Pieme’s platform is meant to serve a diverse base of investors looking to finance community-owned hotel residences with entry-level opportunities starting at $150. By leveraging blockchain, Pieme lets users monitor bookings, oversee stays and participate in the activity.
Pieme’s systems almanage all operational, maintenance and marketing hospitality-related aspects for streamlining purposes. Pieme is currently finalizing its first hotel-residence located in Kampala, in Uganda.The company plains to expand across other African cities in the future and to engage with emerging markets to achieve higher growth. Oceanpoint marketplace will also allow for the creation and management of tokenized real estate marketplaces operating on the Blocksquare protocol.
Marketplace operators can submit project proposals and call for a community vote by stakeholders. Members of the community vote with their staked BST tokens represented by stBST to support initiatives that they find promising. A successful campaign requires at least 500 sBST of deposit and reaches 100,000 sBST to unlock community support and additional APY incentives.
In a May 29 announcement, Blocksquare that it had at the time already achieved the tokenization of $100 million worth of real estate. The company started its activity in 2017 and its solutions are now allegedly used in 21 countries. Blocksquare provides the infrastructure for marketplaces managed by verified third-parties — connecting prospective investors with real estates managers.
In a recent interview, Blocksquare CEO and co-founder Denis Petrovcic explained that the developers implemented several security measures to prevent the loss of funds locked in the protocol. He said:
Blocksquare’s infrastructure and business model revolves around third-party operated marketplaces, known as Certified Partners (CPs). These CPs are registered within the smart contract system and can “launch their own marketplace of tokenized real estate.”
This setup is one of the platform’s security measures which “ensures that both the CP and community members are committed to the pool’s success.” The CP needs to deposit at least 500 sBST as collateral, which is a guarantee against underperformance and protects investor interest.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
