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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Algorand Ecosystem Grows, How Vesta Equity Will Enable Homeowners To Tokenize Their Real Estate

Reynaldo Marquez
Reynaldo Marquez
3 years ago
3 mins read
Algorand NFT NFTs

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Algorand (ALGO) trends lower with the rest of the crypto market. Larger cryptocurrencies, like Bitcoin and Ethereum, broke below critical support and seem at risk of future losses unless liquidity comes up at current levels.

Related Reading | Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%

As of press time, Algorand (ALGO) trades at $0.76 with a 3.7% loss in the past 24-hours. On higher timeframes, the cryptocurrency records a 20.5% loss in 30 days and a 35% loss in one year.

Algorand ALGO ALGOUSD
ALGO trends to the downside on the 4-hour chart. Source: ALGOUSD Tradingview

Despite the recent bearish price action, the Algorand ecosystem continues to expand. Recently, the network saw the launch of Vest Equity.

Created as an NFT platform, this project runs on Algorand with the objective of providing real estate owners with more power over their assets. The platforms enable users to tokenize a property and “easily” offer a portion on the market.

The platform has the additional objective of letting users benefit from the value of their properties, turning them into tokenized digital assets. At the same time, Vesta Equity:

(…) simultaneously advancing housing affordability, economics, and frictionless investor accessibility to residential real estate.

Vesta Equity offers users access to a native marketplace which removes friction from the process of transacting with real-estate-backed NFTs. The platform has a catalog of properties, price ranges, addresses.

In addition, an owner or potential investors looking to purchase a portion of this Algorand backed NFTs can view the percentage of equity available, of equity listed, and equity sold. Other features of the property are visible, as seen below.

Algorand ALGO ALGOUSD
Vesta Equity marketplace. Source: Vesta Equity

Vesta Equity is user-friendly and provides additional data as the property value forecast for up to 30 months, and its home price index (HPI) to estimate the property’s potential value over the coming years, and its expected returns.

Algorand ALGO ALGOUSD
Vesta Equity offers future price estimation for a property. Source: Vesta Equity

Algorand To Disrupt $23.6 Trillion Real Estate Market?

The Algorand based platform attends to automatize and remove third-party intervention from the real estate sector by leveraging the power of NFTs. Thus, providing users with more access to property investments. Michael Carpentier, CEO, and Co-Founder of Vesta Equity said the following on the project:

Imagine a world where with a few clicks of your mouse you can access the entire accumulated value of the equity in your home without incurring debt or selling and moving. At the other end, investors can participate by purchasing into the future appreciation of the property and build a portfolio of real estate assets like they do with stocks.

Imran Rahaman, COO at Vesta Equity, called the launch of the platform an “innovation” in the home equity sector. In addition, Rahaman believes the project is a new use case align with the ultimate goal of blockchain technology:

we become an example of a company using blockchain for what it was designed: to remove friction from traditional exchange of value systems, and to open up new financial opportunities for people everywhere.

Related Reading | Algorand, Solana, And More Lead List Of Biggest Losing Altcoins

The Algorand network also revealed improvements to its mainnet with the expansion of smart contract functionalities. Users will now be able to benefit from contract-to-contract calls, and a new component called Falcon Keys designed at advancing the network on its towards “trustless cross-chain interoperability”.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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The highest standards in reporting and publishing
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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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