News and Announcements
Property #2 Secured and NFT Contract Complete
- Published January 18, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
MyBricks Finance, who opened their investment round on Friday 21st January, have successfully secured their second property. MyBricks Finance uses new technology such as the blockchain, smart contracts and NFT’s to remove the barriers to entry into property investing, increase efficiencies and make it accessible to everyone.
The first property, in Cornwall UK, was purchased and renovated last year by members of the MyBricks community and is now being listed on Airbnb.
The second property that was secured on the 31st December 2021 will be added to the Cornwall portfolio when the technology platform goes live in July this year. To allow the MyBricks users to have contractual ownership through an NFT the team have partnered with Pails as their legal partners. Pails have completed the legal contract that will be used on the platform to represent the ownership that MyBricks users have in each portfolio.
MyBricks will launch the MyBricks wallet in February to support the 5,000+ users in the community that have purchased the BRICKS token to allow them to invest into the portfolios.
The team is now looking for external capital to scale up the speed at which properties are purchased to become the leading brand in fractional ownership of the property asset class.
About The Company
MyBricks is making property investment accessible to everyone. We will break down the barriers and increase efficiencies in the current system allowing MyBricks users to contractually own a fractional amount of property and benefit from the appreciation of the underlying asset plus receive monthly distributions of the yield created through rentals. This is only now possible as a result of new technologies such as the blockchain and NFT’s.
At scale we compete with large short term rental marketplaces as our inventory of properties is part owned by the user base. Creating an unfair advantage against the incumbents.
The underlying technology will be licensed to other verticals as every industry looks to use the blockchain to increase efficiencies.
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