RealBlocks announced completion of the fundign round with investmetns reaching $3.1 million 3 million. RealBlocks provides services of the real estate tokenization. The funding round was reportedly led by Science Inc., while other investors included Morgan Creek Digital, Zelkova Ventures, Ulu Ventures, and Cross Culture Ventures.
"We invested in RealBlocks because this use of blockchain technology has real-world benefits that perfectly align with our investment model," co-founder and Managing Director of Science Inc Greg Gilman commented in press release.
RealBlocks is a real estate platform based on Ethereum. It enables various companies to attract funds with the help of tokenized securities. Investors, in their turn, can acquire real estate for cryptos and fiats. The platform also allows customers to invest in private property all around the world. According to the company press release, investors will get asset-backed token or share that may represent ownership of offering.
"With the support of our strategic investors, we're accelerating development of our product and adoption of blockchain technology for real estate, an industry that previously hasn't seen much innovation," founder and CEO of RealBlocks Perrin Quarshi said.
Anthony Pompiano, founder and partner of Morgan Creek Digital commenting their investment intents, stated that they stick to the idea that “every stock, bond, currency, and commodity will be tokenized at some point in the future.” And the company, as he added, managed to develop and roll out the solution that may assist the major players in the real estate market in falling into the blockchain revolution.