Algorand’s (ALGO), trend lower than the rest of crypto market. Bitcoin and Ethereum are larger cryptocurrencies and broke below the critical support level. They may suffer future losses if liquidity is not available at current levels.
Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%| Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%
Algorand, (ALGO), trades at $0.76. This is a 3.7% decrease over the last 24 hours. The cryptocurrency has a loss of 20.5% in the past 30 days, and 35% in the last year.
Algorand continues to grow despite recent bearish market action. Vest Equity was recently launched.
This project was created as an NFT platform and runs on Algorand. It aims to give real estate owners more control over their properties. The platforms enable users to tokenize a property and “easily” offer a portion on the market.
Additionally, the platform aims at letting people benefit from the property value and turning these assets into tokenized digital assets. Vesta Equity is also available:
(…) simultaneously advancing housing affordability, economics, and frictionless investor accessibility to residential real estate.
Vesta Equity gives users the ability to access a native market that eliminates all friction in transacting real-estate backed NFTs. It offers a list of property types, prices, and addresses.
A potential investor or owner looking to buy a part of the Algorand-backed NFTs may also view the equity percentage available, equity listed and equity sold. The property also has other visible features, such as the ones below.
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 Will Disrupt the $23.6 Trillion Real Estate Industry
Algorand’s platform uses NFTs to help automate and eliminate third-party intervention in the real estate industry. This allows users to have greater access to property investment opportunities. Michael Carpentier (CEO and Co-Founder at Vesta Equity) said this about the project:
Imagine an environment where you could access your entire equity value in just seconds. Investors can also participate in the appreciation of the property, and create a portfolio with real estate assets similar to stocks.
Imran Rahaman, COO at Vesta Equity, called the launch of the platform an “innovation” in the home equity sector. Rahaman says that this project aligns with blockchain technology’s ultimate goal.
Our company is a great example of how blockchain can be used for its intended purpose: to eliminate friction from the traditional exchanges of value and create new opportunities for financial investment for all people.
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Algorand Network also made improvements to its mainnet by adding smart contract functionality. 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”.