The real estate market is one of the oldest and largest markets on Earth. It’s one of the most important, too: everyone lives, works, and plays on real estate. But unfortunately, it’s also one of the most exclusive.
Getting to buy or invest in real estate is primarily only possible for well—off individuals. The barrier to entry is significant with hurdles like large down payments, middleman fees, and expectations of credit history. While many people would be better off owning their own home or growing their wealth with investment real estate, they cannot overcome these barriers and are forced into rental or mortgage contracts which do not truly fit their use case or benefit them.
However, if we can overlook its inequity, the real estate market functions quite well. And at Mysa, we’re not trying to reinvent the wheel, we’re just putting a well—organized system into a framework that cannot discriminate, read: we’re re—building the real estate economy on blockchains, smart contracts, and DAOs.
Furthermore, we want to break down real estate’s intimidating nature and make it look and function more like a game. Strong ties to game theory will not only make real estate more accessible to the everyman and woman, but it will also attract more people — especially of younger generations — to what has historically been one of the most profitable and effective mediums of wealth building.
We as a society have all the knowledge and tools needed to make an open and fair real estate system, now let’s put them to use.
As we said before: we’re not re—inventing the real estate market. We’re “simply” virtualizing it and opening it to the DeFi world, and that’s easier said than done.
The art and science of this comes in accurately mapping the off—chain market actors and mechanisms to an on—chain world, and we should not only replicate them, but ideally streamline and maximize their security.
Although it has many moving parts (notaries, agents, centralized databases, etc.), off—chain real estate manages to maintain relatively secure transactions and stable operations. The on—chain system cannot be worse than the system it intends to replace.
The benefit of DeFi and its associated technologies is that many of these intermediaries can be condensed or eliminated, which in itself may simplify and potentially make these processes even more secure, however no assumptions can be made and no aspect can be overlooked.
Everything is great in theory, but the only thing that really matters is practice. We are putting our theories and knowledge to the test by creating a micro real estate economy on—chain, i.e.: a deREIT (decentralized real estate investment tool).
Our deREIT functions in large part just like the well—known and established, off—chain investment vehicle, the REIT (real estate investment trust).
A deREIT will encompass many aspects of the entire real estate market: property ownership, fractional property ownership, tenancy contracts, rent payment collection, dividend distribution, among others.
The goal is to virtualize each of these aspects, testing them at a small scale. Then fixing any problems, and once they are proven to work as well or better than off—chain, scaling the project.
We have built a multi—disciplinary team with professionals whose titles range from economics and AI researchers, lawyers and notaries, through blockchain developers.
One of our core goals is meld the worlds of economic theory, real—life finances, and new—age technology, and with this team we are making that vision a reality