Algorand (ALGO), a new permissionless, pure proof-of-stake blockchain project led by Turing Award winner Silvio Micali, has partnered with real estate investment company AssetBlock to launch a new $60 million platform on the Algorand blockchain.
Today marks the launch of @assetblock’s #realestate investment platform on Algorand, an exciting milestone that will increase access and create investment opportunity for global participants! https://t.co/vIVuf30boH pic.twitter.com/yIgIIxrOvA
— Algorand (@Algorand) September 17, 2019
According to the announcement, Algorand holders will be able to invest in exclusive commercial real estate opportunities via the new AssetBlock platform. All investments can be made directly with ALGO for shares in the properties.
“We created AssetBlock because the modern economy was in need of modern technology. We saw an opportunity to build a solution that brings traditional and non-traditional real estate investors and professionals together efficiently, creating more opportunity for all involved,” said AssetBlock founder and CEO Mike Liddell. “Lodging Capital Partners represents the caliber of real estate investment partner that AssetBlock is proud to offer access to on our platform. LCP has invested in a portfolio of properties valued at more than $1.5 billion and continues to deliver strong performance.”
Algorand’s CEO, Steve Kokinos, added, “AssetBlock’s model to broaden capital pools for real estate investment aligns perfectly with our long-term vision of building a borderless economy by removing friction for these type of investment opportunities globally.”
The first investment opportunity is a joint venture with Lodging Capital Partners, an owner and asset manager of upscale and luxury hotels.
More: AssetBlock Launches Investment Platform on Algorand with Initial $60 Million in Real Estate Assets
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