Space Summary
The Twitter Space Going Permissionless w/Real Estate on Blockchain Live from Karate Combat #50 hosted by PropyKeys. Explore the world of permissionless real estate on the blockchain, where decentralized ownership and trading of real-world addresses thrive. Dive into insights on minting real-world assets on-chain, including the launch of #PRO Token on #Base, offering transparency, security, and efficiency in property transactions. Discover how blockchain revolutionizes traditional real estate practices with innovative solutions and future trends like increased tokenization, liquidity, and market participation.
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Space Statistics
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Questions
Q: What is the significance of permissionless real estate on the blockchain?
A: It allows for decentralized ownership and trading of real-world properties.
Q: How does minting and trading real-world addresses on-chain benefit users?
A: It offers transparency, security, and efficiency in property transactions.
Q: What is the purpose of #PRO Token on #Base?
A: #PRO Token facilitates seamless transactions and interactions within the real estate blockchain ecosystem.
Q: How does permissionless real estate contribute to innovative blockchain solutions?
A: It paves the way for new efficiencies, trust, and accessibility in property markets.
Q: What potential challenges come with real-world addresses minting on the blockchain?
A: Ensuring regulatory compliance, identity verification, and smart contract security are crucial aspects to address.
Q: How can individuals participate in the movement towards permissionless real estate?
A: By leveraging blockchain technology, adopting #PRO Token, and engaging with platforms like #Base.
Q: What role does decentralization play in the ownership of property on the blockchain?
A: It eliminates intermediaries, reduces costs, and enhances accessibility to real estate investments.
Q: How is transparency ensured in trading real-world addresses on-chain?
A: Through blockchain's immutable ledger, transaction history, and smart contract execution.
Q: What are the key features of innovative blockchain solutions for real estate?
A: Efficiency, automation, fractional ownership, and global accessibility are among the notable aspects.
Q: What future trends can we anticipate in permissionless real estate on the blockchain?
A: Increased tokenization of properties, enhanced liquidity, and broader market participation are on the horizon.
Highlights
Time: 00:15:42
Decentralized Ownership in Real Estate Exploring how blockchain enables peer-to-peer property transactions without intermediaries.
Time: 00:25:18
Transparency and Security in Property Transactions Discussing the benefits of immutable records and smart contracts in real estate dealings.
Time: 00:35:59
Tokenizing Real-World Assets with #PRO Token Understanding the role of #PRO Token in digitizing and trading physical property assets.
Time: 00:45:27
Innovative Solutions for Property Markets Examining how blockchain innovation revolutionizes traditional real estate practices.
Time: 00:55:10
Regulatory Considerations in Real Estate Blockchain Addressing the importance of compliance and legal frameworks in tokenizing real-world properties.
Time: 01:05:43
#Base Platform: Empowering Real Estate Transactions Exploring the features and capabilities of the #Base platform for secure and efficient property dealings.
Time: 01:15:22
Future Prospects of Real Estate Tokenization Delving into the potential growth and evolution of blockchain-based real estate tokenization.
Time: 01:25:14
Community Engagement in Real Estate Blockchain Highlighting the role of communities in driving adoption and innovation in real estate blockchain solutions.
Time: 01:35:37
Global Impact of Real Estate Blockchain Examining how blockchain technology transcends geographic boundaries in real estate investments.
Time: 01:45:55
Smart Contracts for Property Deals Understanding the automation and secure execution of contracts in real estate transactions.
Key Takeaways
- Learning about permissionless real estate on the blockchain.
- Insights on minting and trading real-world addresses on-chain.
- Introduction to #PRO Token launch on #Base.
- Understanding the movement towards innovative blockchain solutions.
Behind the Mic
Discussion on Responsibility
Out of hell? I thought you knew I had some help? He ain't like I can make this kind of mess all by myself? Don't act like you ain't help me pull that bottle off yourself? You thought I'd take the blame for us crawling? Go round like you think already lost. This game that you've been running kitchen looking? You think it's just a win after all the shit you did? I ain't angel? Mess all by myself? Don't act like you ain't been every week if you couldn't tell? They say teamwork makes the dream work? Hell, I have a male you? That ain't the truth? Don't act like you? And we fall apart?
Event Introduction
Hey, everybody. Welcome, welcome. We are just waiting on a couple more speakers. How's it going, loudmouth? You like the country music? I like it. I like it. I'm sending out invites and reminding everybody because there's a lot of traveling going on, so times are different time. They're in different time zones, so got to remind them that it's time. we got mobile me, Moby media in the house. I'm gonna invite him to speak. Jenna X is in here. What's up, Jenna X? We got that influencer fight club, karate combat. We got a bunch of cop, fights going on. We had weigh ins, face offs. We got the big fight going down tomorrow. We're out at Salt Lake City. It is beautiful country out here, but bring your chapstick if you're gonna come, because it does get dry.
Community Engagement and Announcements
Python's in the house. What's up, Python? What's up, influencer? Moby, I sent you a request. It says you're requesting. Let's see here. Bear with us. We are getting this space going. Property's in the house, and you guys got some new stuff coming out, some announcements going on, right? Property. That's right. By the way, I just want to give huge props to Jenna on that fight. Jenna, that was epic. Absolutely epic. Well, you know. You know why she won, right? Because she's a rock star. Because she wore a tattoo of my face on her back when she fought. And. Listen, there's only been two karate combat fighters that have fought wearing me, and both of them are winners. I'm just saying, it's probably. It's not their hard work, their dedication, their training, their skills. It's because they're wearing my face. I just invited Jenna to speak because I think she's probably got something to say about this.
Insights on the Fight Camp
Oh, she agrees. Jenna, just give us a emoji. You don't need to come up and speak. Just. Just hit the 100 button. I love that. I love that. And King Apollo, he came out and did the. He was doing the. The face offs today. It was his first time. He did an excellent job. King Apollo in the house. Python is getting ready for upcoming fight. So ifc. What's up, bro? Hey, excuse me. How you doing? Is this all LaRping or is this dabtola? It's not. Yeah, no, everything's been awesome so far. How many? I mean, what does this make for the influencer fights? Is this, what, 4th, 5th? 6th, 5th. This is the fifth one. Fifth. All right, tell us a little bit about this. This is where keyboard warriors can get in the pit and fight each other.
Explanation of the Fight Club Concept
Yeah, pretty much. You know, we see a lot of people, you know, talking smack on Twitter, back and forth, but only very few actually apply and. And find their way in. So they're definitely a lot of keyboard warriors, but anybody who thinks they have what it takes or. Or wants to give it a shot and. And take it seriously, you could apply it. Influencer fight club.com. and, you know, maybe we'll see some. Someone from the audience here in the pit, but, yeah, you know, and we're. Going to give away $500 worth of karate today on this space. So you. I will pin the. The tweet up in the nest. Well, I guess it's a jumbotron now because it's not a Twitter bird, it's an x. So up in the jumbotron, and then you just interact with that post and retweet the space.
Token and Community Engagement
Comment your h bar address in the comments, and then we will pick towards the end of the space. $500 with a karate. Let's go. Okay, I got that post up there. Rob. I'm adding you as a speaker. Moby media, tell us what's going on in the world. What's going on. Educational content. Let's go. I'm not. I think Singapore was enough for me. Singapore was pretty rough for me. I'm not a fan of the Singapore. I probably won't go back, but, oh, how come? I had a great time. I didn't like all the rules, and everybody always. There was. It seemed like somebody was always staring at you or watching you. It just. I wasn't a big fan.
Experiences in Singapore
I think they're probably staring at you and watching you because you're always peacocking with that. With that suit. Hey, were created to shine, so. I'm just saying, everybody's always staring and watching you, loudmouth. You're the center of attention no matter where you're at. But you can go to up to six months in jail for chewing bubblegum there. So that's a little extreme for me. I can't handle it. I'm with you if that's your problem. We're not going. Yeah, they're pretty strict. They're pretty strict with everything. I think they're strict with not just gum, but drugs. They pretty much treat weed on the same level as they would heroin and anything possession related. You can get up to ten years.
Strict Regulations in Singapore
Anything over. I think for weed it's 20 grams. You get life in prison or death penalty so they don't fuck around. And no kidding, they will cane you. They whip you when you go to jail there too. So it's like you're a child, I guess. I guess if you do childish things, you'll get treated like a child. And Singapore used to be one of the biggest black market countries in the world. No, it's asian. They're not black over there. They're asian. I know they're not black. I know they're asian. But black market. One of your bulls is ready to mint, loudmouth. All right. Thank you, sir. You're welcome. Speaking of minting, I think that we could go to property keys and you can mint any address that's still available.
Minting Addresses and Their Benefits
Nina, you want to tell us about why they would want to mint an address and how that all works? Yeah, sure. So you can go either to coinbase wallet and minted address and we will actually cover the minting and we will reward you some token or you can go to propertykeys.com and also mint an address so you can mint an address. One just for access to the propertykeys gaming ecosystem that we currently have, where you can play games and earn tokens. We're also expanding that to a couple mini games that we're going to be launching next year. And we're going to be airdropping a new token as well to anybody that owns an NFT. But you know, that's just the gaming side.
Property and Real Use Cases
There's a real use case side to property and proppy keys where you can go ahead and put your real estate property title, your ownership on chain, and that helps with any kind of fraud that you ever have when it comes to your mortgage and your house. And then you can also, we're doing a deal with Coinbase where you'll be able to buy and sell real estate wallet to wallet when you have a property keys NFT. And so you have the gaming side, the fun side, right, which is property keys. And then there's a real use case, right, of putting real estate property title as an RWA, which is, you know, eventually something that we will launch globally. Okay, so I heard you say something about you're gonna airdrop a new token.
Overview of Upcoming Token Launch
What's going on with that? There's a new token coming out because you guys. Pro token is. Yeah. Right. You guys have been around for a while. Yeah, yeah. On Coinbase, that's like the hardest thing for any coin to get on is Coinbase. You're on the front page. When you do, you go to coin, the base wallet coin, and it like, how did you get on there? Everybody's probably like, how in the world, every time I go on there it's like, boom, probably keys pops up. Property keys, you're everywhere. Yeah, well, we're certainly trying to get out there when it comes to putting title on chain, right? Property ownership rights and everything else, we're really passionate about that.
A Look into Propy's Journey
But the pro token was launched in 2016 and it's, you know, back then, 100 million token sale was the normal amount of tokens. Nobody was doing 1 billion or 100 billion like you see today. And so we're a bit limited on the tokenization strategy right now that we've launched propykeys and especially now that we see a whole gaming side that we can use to expand the mission of putting all title on chain. So that's why we're launching the pks token. We're working through all the paperwork right now as well as the tokenization strategy. And one of the things that we want to do is of course we're all about our community, right? We are where we are today because of our community.
Community-Focused Initiatives
And so we want to make sure that we reward our community when we launch this token q one of next year. And so we are looking at airdropping pks tokens for all of the NFT holders. That is wild. So you gamified putting real estate on blockchain. And look, I seen this story the other day where this person was trying, this lady was selling this real estate to these people in Florida. And then they wanted to do a remote closing. And so then they had to get the lady on a video call for something to verify something. And the title company caught it. It was a generated lady and they never really owned the property they were selling.
Fraud Prevention and Blockchain Utilization
So the number one fraud in the world is so many scams, real estate fraud of selling Orlando finance and property that's not really owned by the correct owner. Now when you. And it's only gonna get worse. So when you put real estate on blockchain, that takes that fraud away. So if there's like say a title, then I think there's some feedback coming through somebody's mic. But so if there's an NFT title on this, like just like a title search in regular state, it's on the blockchain, so it's transparent. It can't be frauded. So then people's gonna go with the one that doesn't have the NFT, you know, title.
Future of Real Estate Transactions
Banks are gonna eventually figure that out. And just like they make you have insurance and title searches, I think it's gonna end up being mandatory on real estate. And you guys are so ahead of the game that you're starting and building out the ecosystem now to where they're gonna have to run to you for the answers and it's going to blow up. And there's, so there's so much like capital in the real estate business that it can really mass adopt. I think you got hit. Probably mute your mic real quick. Yeah, that did it. You got a, you're cutting out a little bit. So once that happens, I mean, that's going to influx tons of money into the ecosystem of blockchain, period.
The Value of Property Keys
And so I think that it's really going to be a game changer because I mean, if you just take the holdings in real estate that blackrock owns alone, like, that's enough to change our entire market. And so I'm, I just think that I'm super bullish on property because they're the industry leaders, they're the industry standard right now. And it's not going to be long before governments are going to have to come in and say, hey, how's this system working? And that's when everybody that's here now getting this alpha is gonna be extremely, what do they call generational wealthy? Because just because of here, proximity is power. Right?
Engagement and Networking
We're here. So, so, yeah, it's pretty powerful now. Moby Media, what do you guys got going on right now? What's the hot take? What's the, what's the stories going on? Because you can have the best product in the world, right? But if nobody knows about it, doesn't really make a difference. You guys help everybody know about stuff, right? Your big media company and web three, you're letting people know onboard new people. So tell us what you got going on. Yeah, business as usual for us. We got Ama's almost every day. We host weekly panels.
Community Education and Marketing
I host the collaborative space with a, the Wolf financial team and going to conferences, man. And we are, yes, indeed, an educational news and educational outlet. So any projects that want to get exposure, want to get new eyeballs, want to build community, want to break things down for the layman, because the layman needs to understand why this is going to solve their problem in order for them to use it. Comes to us, and we're happy to work with anyone that is building something they believe in. So I guess, let me ask proppy keys a question here.
Global Reach of Property Keys
Does this digitalization of home titles work currently in just the US, or which countries are eligible? So anybody can mint an address anywhere in the world, right? And the game, the mini game that we're creating now that we're working on that will be launched next year. Q one will incorporate all the minted addresses, but in order to record your property title on chain, it's right now only available in the US. And so what you do is once you mint your address, then you upgrade to tier two and tier three, which is just for homeowners.
Verification Process in Property Title Management
So we kyc the individual, make sure that they are who they say they are, because again, right, there's a lot of fraud in the real estate world. And then we also verify that they are the true owner of that property. Now, once we've done those two steps, we contact the county and we work with the government county, and we notify them that this property now is an NFT. And so they put a serial number on that title. So if anything changes, right, if there's anything that comes up with that title, we get notified and we create another change on that NFT. And so think about it as kind of like a registry, right?
NFT Registries for Property Ownership
And so we're registering addresses, and then we're registering the address and the owner of that address. And then as more information comes and is developed through the life of that property, we continue to add a block to that NFT. And so eventually, the way that we see it is 510, 20 years down the line, addresses will be nfts, and all the history of that home will be there with that NFT, so you can have access to it when you buy it. Understood. What is currently the advantage? What is the incentivization for someone to do this today?
Incentives for Homeowners
So, for homeowners, you have that NFT now. And if there's any fraudulent activity, you can show that NFT as verification that you're the owner. We have the gaming side where you can earn pro tokens once you become part of the ecosystem and mint an address. And then we also have a staking option as well for our community. What happens if your wallet gets compromised along with the NFT? So there's two things that when were developing this, we considered, right. That was one. And if that's the case, then we burn it and we reissue that NFT.
Mitigating Risks in NFT Management
And then the other one that we, our advisors told us to think about was the privacy option. Not everyone is. Not every homeowner is going to want their public address on chain. And so what we do is we also give homeowners, once they go from minting the address to actually putting it on chain ownership on chain, we give them an option to keep privacy so nobody sees the information.
Burning and Reissuing NFTs
How do you burn it if it's a. And if it's in self custody? Wallet. Yeah, we burn it and then we reissue it as a new NFT. I don't know the technical side too much just because I have developers that do that. But we did take that safety mechanism in case that ever happens.
Onboarding and Future Marketplace Vision
How many addresses have you guys currently onboarded? So we have about. We're almost at 300,000 and we launched in March. And is the idea ultimately to have this marketplace, where can these be fractionalized in the future? So the idea is going to be that through our DaP. And I don't know if you've had a chance to look at our Dap. If not, I'll share it with you through X. But eventually we see people transacting through our DAP. You know, kind of like a think about it as a zillow 3.0 on blockchain, with being able to accept crypto. We see it as something that's evolving into that eventually, and that's what we're building towards.
NFT Transactions and Real Estate Titles
Yeah, I guess I'm trying to wrap my head around if a transaction is made with an NFT on chain, how quickly that reflects the actual home title in real life. Do you know how that works? So what we do is we work with the county. We have a title company that we partnered with in the US, and they're licensed in the US called proppy. And so what proppy does is we send them all the verification information and they then notify the county about this property being on chain. Right. And if anything changes on our side, we notify the county, right. So think about it as this. We're building web on web two, right? Because most title companies are still not building on the blockchain. Most counties are not on the blockchain.
California's Legislative Changes
California just passed legislation about two years ago where they are going to put public records on the blockchain. And in fact they just did that with driver's licenses. So with California, typically legislation starts in California, New York and Florida, and then it trickles down to all the other states. And so what we're doing is we're building and working still in a web two type of traditional manner, right, where we're working with a title company, right. We're recording information with the county, but we're also building a layer of web three, right? And what we're anticipating is that eventually public records like driver's licenses and like titles will be on the blockchain.
Understanding of the Token System
Understood. You mentioned you have a token. Can you go into how that ties into everything? So we don't have a token. We worked with the pro foundation who has a token called propy. It's pro and you can buy it on Coinbase. And so we're using that token right now for all the minting activity. And so when you go to mint an address, when you upgrade your title as an NFT or RWA, you pay with the pro token. That's why what we're looking at doing is we want to launch our own token in Q one because we're going to continue using the pro token for all the minting activity, but we want to also expand that into the gaming type.
Funding Background and Partnership with Pro Foundation
Was there a reason you guys chose to use a token, a third party token, as opposed to just using ETH? Or even launching your own token as opposed to just using ETH? Yeah, it had to do with the funding of the company. Initially went out and raised money and we had two companies that funded us originally, one washing Draper associates. Tim Draper was original investor. And then the pro foundation also offered us pro tokens to build the platform and has been extremely supportive. And proppy is a blockchain title company and so they're the owners of the proppy token.
Upcoming Events and Partnerships
So basically you guys are working hand in hand with pro. Like you're two separate companies but kind of under the same umbrella in a sense, because you're working right side by side because it's proppy and property keys. Yeah, we both have, we both share the same vision, right, of putting real estate on chain. And so we're, you know, property keys is the fun side of it. Right. The DAP, you get gaming. But then there's the property side, which is a more serious part, which is really putting property ownership on.
Real Estate Conference and Engagement
You guys also not only have a new coin coming out, you also got a bit, a big conference coming up in Miami next month with a bunch of real estate investors, some really good speakers. And you also have just done a nice partnership. You want to talk about that a little bit? Yeah. So I think that we can go ahead and lava. Do you have the link to the property event? If not, I'll send it so we can put it on the. Yeah, I'm looking for it on the spaces, but.
Proppy's Miami Summit
So, so for November 7 and November 8, we're planning. Proppy's planning a summit. Proppy keys is going to be involved, but that's not our live event. It's a proper event and it's going to be in Miami for anyone that's interested. And we're going to have some great speakers. Last year we have Kathy woods speak about, you know, Ark investment and what she was doing in the crypto space. And we also had the cardone's who are, you know, pretty big real estate investors and have a couple of real estate funds. We also had some great real estate coaches and just, you know, people that are not only.
Industry Leaders and Invites
We also had the CEO of EXP Realty speak on, you know, the real estate industry. So it's a combination of anything that's a, has to do with the real estate industry, but also with the web three blockchain space this year. We're going to have Tim Draper attend. We're also going to have Anthony Scaramucci attend as well. And a whole slew. We have somebody from selling sunset. One of the agents sets in selling sunset. We're going to have some really great speakers as well.
Future Opportunities for Guests
It is an invite only, but if you're interested, please send us a DM on property keys x account and we'll get you more information. Right on, Mama Barrett, do you have an address on minted on proper keys yet? I don't, but if I can figure it out, I'll get one. It is the simplest transaction you can ever make. Just go to the website or go to base. Easy, easy.
Simplifying Crypto for Users
It walks you right through those, the whole process, step by step. Well, you know, easy is my favorite thing in the whole world because my initial, you know, entry into crypto was not easy. It was super complicated and got my wallet lifted. It was my own fault, and I'm not crying about it, but complicated things tend to shy people away. But if it's easy, if proppy keys is easy, then I'm all in, because were talking about this with our girlfriends, and one of my girlfriends was like, but crypto is so hard, and it's not easy to understand, and there's so many options and there's so many variables.
Understanding the Difficulty of Crypto
And I just listened for a few minutes, and I said, well, you know, I would venture to say that makeup is so hard, and it's so difficult to know which mascara at what time and which eyeliner and how do you get that perfect wing and how do you get the liquid liner versus the, you know, the smudge liner and how do you do all of these things? And she was like, oh, you just get in there and do it. And I said, well, crypto is not that hard, because if you can learn and master those different things with your makeup, then I'm pretty sure this is not too hard for you either, because crypto is really not that hard.
The Finality of Transactions in Crypto
It's pretty basic. And once you get the basics down, you're good to go. Just know that you cannot use a makeup remover and just start all over because there is a no start over button with this. If it's gone to the wrong place. But it just brought up a really cool conversation. And if preppy keys is that easy to use, loud, you know, I'm ready. Well, you know, if I say it's easy, it's got to because I have the most difficult time.
Personal Experiences with Difficulties
And learning certain things now, once I get it. But proppy keys was really simple on their process and stuff. I guess that's why they're blasted all over the, you know, the homepage of base, because they're killing it for real. It's, it's pretty cool. And if you remember, like, for, you've been around since, you know, basically almost from the beginning of when I was, started doing spaces and stuff. And that's what made me understand what an NFT even was before.
Understanding NFTs through Real Estate
I was just like, you know what? Why would, why would I pay so much for a picture of something, right? And then it clicked in my head, like, oh, man. How many pictures of my house is on the Internet or zillow? And I don't care if someone comes out and starts taking pictures of it all day long in front of it because I have the title and I have possession and it's my house. So until they come in, try to use my kitchen or bathroom, I don't have an issue with anybody out there. How many pictures because they can't sell it because it doesn't have the value.
Value of Digital Assets
Now, once you put something on the blockchain, that NFT or JPEG is basically a digital asset. It's like having a house and it's on chain. And so that kind of giving me the understanding of what an NFT is, what a digital asset is, that's. That's what I did, real estate. So I think that this company that's actually doing what I was like, this is the whole point of this. This is great.
Historical Context in Real Estate
You know, like, I love it. And, and I'm glad that there is a company out there. And it's not just. It didn't just start then, like, they've been doing this since 2016. So I do want to circle back to a question that when my microphone or my rug was cutting out, Moby was talking about mobile media was talking about, how can you burn the address if they had it on a private keys wallet? So, like, if I get an NFT, once I buy the NFT, if the metadata is locked, then I can.
Burning NFTs and Ledger Questions
And I put that on my ledger. How could you burn that NFT while it's in my ledger? And I guess that there has to be some type of thing where you guys are checking with the state, checking with the title searches and then doing that. And then if someone were to do something like that, then that would. You really wouldn't be burning it. You'd be burning it in the system, but they would still have just a useless picture. That is not the actual thing in their ledger would be my guess.
Clarifying the Process of Burning NFTs
Yeah. So, yeah, that's essentially we're just burning the. It's not the real thing. Yeah. It'd be worthless. Like, I took a $100 bill and I went to the copy machine and made a copy of it, and then I had it in my pocket. Well, you can't get in my pocket and burn that. But it doesn't matter because it's a useless copy of something because you went on Jane and corrected it. And we just use a simple term of, like, burning it.
Reassigning Ownership of NFTs
Yeah, we would just reassign it. Right. And I guess maybe I worded that wrong. Just. Yeah, because you're not, just remember that. We'Re not taking it out of their wallet and reassigning somebody. You're, you're making sure that the blockchain states and on smart contracts that's worthless. It's not the real one. Here's the one.
Reporting to the County
Exactly. And then we just notify the county, put in the correct NFT, because at the end of the day, you know, the county is the one that's today. Right. In the future, I think will be different. But the county is the authority. Right. When it comes to ownership still, correct. Right. And so we would, you know, just notify the county that the NFT has changed, and then we would give them the wallet information of that NFT, and then we would just refurbish the information within that NFT.
Background in Real Estate and Title Work
I have a question. How long have you guys actually been in real estate and doing title work with real estate? So proppy is our partner, and they're the ones that are the title company and do this work for us. Property Keys is just adapt. But proppy has been around now since 2015. And originally it was just a transaction management platform where you could buy and sell real estate using cryptocurrency.
Evolution of Proppy and Property Keys
But then it's evolved, right, to not just only that, where agents and homeowners can use that management platform to buy and sell real estate, not only using fiat, but also crypto, but then they became a title company as well. So you guys probably had a lot of real estate background and title background before you even got into blockchain, correct? Yeah. Yeah.
Experience in Real Estate
I started in real estate about 18 years ago. I've owned real estate companies, and I saw the inefficiencies within the real estate space, not only on the transaction side, but the high fees. Right. Which I think keep a lot of people from being able to buy homes, especially now with all the changes with the commission's lawsuits. I don't know if you're aware of it, but from August forward, if you're a buyer, the seller of the property will no longer cover that 3% commission.
Changes Impacting Homebuyers
It's something that people have to agree upon. And so it's no longer. See, if you were to buy a property a year ago, the seller usually pays 6%. Right. And so 3% goes to the buyer's agent that then the buyer uses to buy the home, and then 3% goes to the seller's agent. Well, as of August of this year, that's changed. So now the seller only has to pay their agent. So that's going to hurt homebuyers because now the buyer not only has to come up with 3% commissions based on the price of the home, but they also have to come up with a down payment and closing fees and so forth and so on.
The Impact of Lawsuits on Buying Process
Right. And so I think that what we're doing is going to help people as well. And property has that transaction management platform that uses AI technology and they help buyers be able to transact a property using AI. But I think that there's a. I. Don'T know what just happened to your mic, but you cut out. It was, you're gone. We can't hear you.
Frustration with Communication Interruptions
Meaning. All right, well, why she gets that fix? Why don't you get. Did you, did you just lose me? Yeah, completely. I was just. Yeah. What did you hear? I was focused on not hearing you. So I don't know exactly the last thing I heard, but you were talking to me. You just cut out probably 30 seconds. 40 seconds, maybe you just got a love x.
Lawsuit Impacts on Housing Market
Yes. So essentially I was just talking about the commission's lawsuit. Right. And how now homeowners are no longer having to pay that percent, that percent for the home buyer. Right. So now the home buyer addition to all the costs that they already have to pay is now going to have to come up with 3% commissions to pay their buyers agent. So it's not going to be split like it was before, you know, our negotiations.
Regulatory Changes in Real Estate
No more splits. And that's the law across the United States, or is it state by state? Yeah, it's, it passed. It was change nationally as of August of this year. Now what do you think that'll do to real estate? Because I know that people love to be the listing agent because of those fees. And now if that switches, you think that's going to change on how the whole real estate game is played or attacked or, you know, strategized?
Challenges for First-Time Homebuyers
I think it's going to hurt first time home buyers that now have to come up with more money. Yeah, absolutely. And I don't know if there's going to be many buyer's agents anymore. We just, so we're in the middle of getting ready to buy a house and we close in July. I know it's a long time we're building. So it's a different category of purchasing, but in order to buy the home or even look at any homes, we had to sign an exclusivity or a purpose, an intention to buy and had to go through all of this additional vetting with the agent in the area just to see a house.
The Vetting Process Deterrent
I'm like, I really just want to look inside. And she's like, no, we can't let you. I'm like, what do you mean? I said, nope, you can't let you do it unless you do all of these things. I said, I just want to see inside, and, like, it's an empty house. And she said, nope, we can't let you. And it was so frustrating because it's like, I am a buyer, and I've been vetted. I've bought three other homes before for myself, and I just want to look at this one to see if I want to buy this one.
Frustrations Encountered in the Home Buying Process
And I had to go through hoops. It felt like pulling eye, you know, my eyelashes out in order just to see a home. And it was really frustrating. And I don't understand why that change has been made, but it would be cool if all of your vetting could be online on the blockchain, because then people can say, oh, well, this wallet's coming in. No problem. Open the door and let them see it, instead of having to be exclusive for a specific agent, because maybe I don't want to use an agent this time, or maybe I want to use the seller's agent, and instead of paying 3% and 3%, maybe I want to do 4% total and let that agent broker both ends of the deal.
Transformation in Real Estate Buying
So it was just frustrating for us. And it's a big change in the last four years, since the last time I purchased a home. And I'm sorry to hear that. But that's a. Exactly. That's a result of this lawsuit that just happened in the settlement. And that's why you're doing that, because of that.
Legal Actions Altering Real Estate Dynamics
And what's crazy is this law firm, I think it was. I don't remember the state, but it was in the midwest. This law firm got homeowners to come up with this lawsuit, right? And they essentially sued all the largest companies. You talking about Berkshire Hathaway Home Services, realogy? Who? Realogy owned, like, all the Coldwell bankers of the world. Better homes and gardens.
Repercussions of the Lawsuit
They sued compass, they sued exp. And so this law firm went after everyone. They even sued Nar. And little by little, every single one of these real estate companies ended up settling. And the law firm essentially sued, saying that homeowners no longer wanted to pay 6% commission and that they were defrauding the homeowners. And so because of this lawsuit, now you have to sign all this paperwork, because now agents want to make sure that they're paid on their commissions when they go ahead.
Financial Outcomes of the Lawsuit
And the buyer's agent, when they go ahead and show a listing, because that's no longer guaranteed, thanks to this lawsuit. And the craziest thing is, guess how much each in total. The lawsuit in this law firm got about $500 million. And guess how much the homeowners in the lawsuit got. 1%, about $15 each. And the law firm got 50% of the total amount of the settlement.
Legal Outrage and Class Action Discussion
I mean, I'm just waiting for the Netflix because it is so outrageous what happened, but because of this lawsuit, you are now having to do what you did. So someone needs to have the class action, needs to be against the attorneys and the agency that did that brought the suit, because that's the ultimate defraud right there. They got the $500 million. They kept over half of it. And all of the people that were involved in the suit got $15 apiece. For me, I'm like, I understand they have the burden of the legalese, they have the burden of the whatever, but it really is copy and paste. It's not that involved at that point. Once you get on that scale, it's not that involved. And that is where I feel like that's the burn, and that's where the homeowners are being burned.
Closing Costs and Real Estate Transactions
I have. We haven't paid closing costs because it. When we've bought our homes, the closing cost was on the seller. The seller paid the closing because they just wanted to sell the house and move the property. So we hadn't. We haven't had to come up with any closing costs out of our pocket, either that or refinanced it in the loan, because it, you know, is pennies on the dollar at the time. And it just makes more sense. Less money out of my pocket, finance it in the loan. I don't care. And it's just one of those things that is so frustrating, because for me, when I was trying to sell my home, they're like, well, if you don't list it at 4% commission, then the likelihood is they're not going to show your property.
Challenges in Selling Property
And I'm like, what? No, like, why do I have to. Why are you telling me I have to put my house at a higher commission rate just to sell my house? She was like, well, the house up the road sold in two days. And I said, yeah, it had 6% commission. I said, I want it to sell. It's going to sell. Nothing is sat on the market. In the midwest for more than two weeks without an offer on it. I don't need to raise my commission rate to sell this home. And I didn't. We had a contract in five days. So it just is so frustrating that the stress that they put a homeowner, whether a buyer or a seller, through is frustrating.
The Need for System Overhaul
And I think that the whole system needs an overhaul. And I'm excited to see this stuff come on chain, because I have family members in the Gulf coast and properties, you know, having to go through the title search with all of that stuff. There's no physical property left. There are no physical papers left because everything was waterlogged and thrown out. And with the proof is on chain and all of that stuff, then it's easier to verify. It's also easier to sell. And I think that it's going to make a lot of the title, you know, sales and fraud. A lot of that stuff is going to be mitigated because you're going to have a lot of this stuff on chain and it's going to be harder to defraud people for their properties.
Helping Homeowners with Title Issues
No kids. Absolutely. Absolutely. In fact, we, with this hurricane that happened yesterday, Milton, we actually put out an offer to any of the homeowners in the affected areas that we would mint and put their title on chain just in case they lost the paper title. Just, were thinking about that and we just wanted to help out homeowners. I have a question about if a. House burns down with the title in it and it burns up who owns the house? What's the quick answer for that? Well, yeah, I mean, you have, you know, the title on change. So now you have the paper deed on NFT, right.
NFT and Real Estate Transactions
So you don't have to go through all the bells and whistles and, you know, having to contact the county, having to contact the title company, all that. Now, now you have that paper, right on an NFT. So basically you've got, you gamified this and you're basically building out the system for when it implements, you know, nationwide and governmental. The cool thing about it is there was a question earlier, can you fractionalize it? And I mean, eventually that's going to be able to happen to where, like, all of us in this room could have never met in real life, but we can go on chain and buy a piece of real estate together through factionalization.
Fractional Ownership and Blockchain
Nfts. And so instead of having to have, you know, 50,000, 100,000, $200,000 cash, we can actually just have a fraction of that and still be able to buy real estate and on chain is making that possible. I know that a lot of people get like, you know, you hear bitcoin, Maxis, and then there's web three Maxis and stuff where people always feel like they can't get into crypto because they're a successful web two business. And then people that get into web three, they're like, oh, you know, screw web two, when the whole point is to apply web three to web two business that is successful already and to make it even more successful. And I think that you guys are doing a really good job of that.
Staying Ahead in the Crypto Space
And you're not in a hurry because, you know, blockchain is not going anywhere, so you're actually doing it right. And the tortoise always beats the hair every time you read the book. So let's go Moby media. Do you got any more questions now that kind of, we've been talking about a little more. I know that things kind of pop in the head and when you start to get familiar with things like that or with something that's, you know, you hadn't heard of before, new and you guys do great interviews. I know you always have the best questions. I appreciate that, man. No, I don't think I have any more questions.
Interest in Practical Applications
I'm looking forward to playing with the dap and potentially minting an address and seeing what that looks like. I normally will play with something to get a better idea of how to ask questions. In this case, I actually didn't know that we would be doing a Q and a with proppy keys. So in the future, would love to do another follow up and ask more detailed questions. Yeah, well, I'll send you a DM so we can get in touch. My question is now.
Upcoming Fight Plans
So, Hector Sneck. What's up, buddy? Thanks for coming in. You're over here in Salt Lake City. You had a fight plan with postmaster. And can you tell us what happened with that? What's going on? Is your Florida native to properties in Florida? What's going on? What's going on with your house? What are you doing in Salt Lake City? Why are you not fighting? Tell us what's going on. Yo, what's up, everybody?
Event Updates and Challenges
Yeah, yeah. So, unfortunate news. not gonna be able to see, heck the snack tomorrow night in the pit. But, fortunately we're gonna move the date forward, I guess. Canada's healthcare system is super slow with all the medicals and, they can came in a few days late and it's just not going to be able to happen. But the fights are still going to be amazing. I mean, these influence are putting in work. And the karate combat fighters, I mean, they're the best strikers in the world, literally.
Preparation and Personal Goals
Karate combat is the biggest platform for the best strikers. And I mean, it's going to be an amazing night. So regardless, you know, I don't get to go show out. You know, I was training hard. I definitely. I put everything into. Into my fight. So I was going to put on an amazing show, win to lose. But these guys are still coming. They're bringing their a game and I cannot wait. Yeah, I actually just bought my first house in Florida.
Learning About Opportunities
So this is super interesting to me. I'm on. I'm on the website right now. I just saw your. Your tweet, loudmouth, about minting your address, so I'm gonna. You guys don't want to mint your address or a great landmark or a good commercial building or event center? Don't worry, I'll mint it for you and then I'll sell it to you for a higher price later. So don't worry about it. It's up in the nest if you want to just click it and go ahead and mint an address. If not, don't worry, I'll sell it to you later.
Introducing New Faces
And we got my man Alexander Lorenzo in the house. I think the time change is kind of messed him up. He's better late than never because this guy is one of the fastest, most. It's upcoming YouTube channels out there talking about crypto charts, onboarding new people. I met him in Nashville for the first time in person. Then I met him in Singapore again. And we've had. We've had a great time getting to know each other. Alexander, how are you doing, bro?
Challenges in the Aftermath of a Hurricane
I'm doing good, man. Thanks for the invite. Sorry for being a little late, man. We got lit up in Orlando with the hurricane and it's been pretty hectic. I ended up driving to Atlanta. I'm out here at this blockchain center. How's everybody doing? You guys doing good? Loving life. Living, living and loving life, for sure. Now you're a big bass guy. You love aerodrome, which is doing really well.
Excitement for Real Estate on Blockchain
Proppe keys is actually on the front page of the base app all the time. Have you heard of property? I know that you guys, you came on the space because I asked you to come on, but they're putting real estate on blockchain and it's just. I'm extremely bullish about it and I just want to know your thoughts on it. Have you heard of it before. What do you think about it? And then give us some good pointers on which. What should be we. What should we be looking at right now?
Research and Analysis in Cryptocurrency
Yeah, so I have a research team. I don't know if you guys know, I got like a. I own a fund, and we have researchers on payroll, and they do a lot of, like, the fundamental analysis for me, I try to focus on market direction and things like that. And we researched the top hundred. I think it's at about 150 right now. Rwas and all of cryptocurrency. Like, we have a specific system where I essentially grade and vet coins based off different characteristics of the coin.
Fundamentals Behind Proppy
And property was top five. So I haven't, like, we haven't advanced. Yeah, so I'm just being clear. Yeah. Before I even knew you, loud mouth or anything like that, property was top five. My researchers filtered out through 150 different coins and, yeah, it was top five. Now, we haven't, like, moved on to the next level of that. We're treating it like a tournament style. We moved on to the AI ecosystem to kind of filter through that as well. But what I do know is that they're very legit proppy, from what we, from.
Investment Strategies and Future Predictions
From credibility standpoint, from what we look at, it was very rigorous. So, for example, I don't really invest in too many, like, pump and dumps and scams and things of that nature. I'm looking for legitimate longer term, not super long term, but longer term, cryptocurrencies and obviously real estate, huge market. now, I don't know too much about the regulation real estate, and so this is why we kind of halted. And we're trying to figure out that system of how, you know, is it going to be legitimate on the blockchain, things like that.
Notable Figures in Real Estate Representation
I think we heard. I don't know if it was proper. One of my researchers told me that you had Grant Cardone's. Was that property. Grant Cardone has a property, yeah, they put. Yeah, he put his property on changing the property. Yeah, yeah, he did. Yeah. He actually did a RWA with proppy keys. And now we're helping him, you know, get it out there. And once we. I don't know if they found a buyer or not. I'm not keeping track of that. But once that happens, then we'll handle the whole transaction because they want bitcoin, and we can do that.
Vitalik's Influence and Market Trends
And so, yeah, we're part of that. I have seen and heard some stuff about with Vitalik interacting and talking about property blockchain on real estate. He's super bullish. I did hear a rumor that, you know, he was selling his eth to buy more pro, but I don't know, you know, check it out. Yeah, yeah, I'm definitely interested. Obviously, RWA is one of the biggest narratives. It is actually, in my eyes, top three narratives.
Navigating New Investment Opportunities
So, like, for the new investors or anyone that doesn't understand, this last cycle, the gaming wasn't a thing. So this is a big thing for a lot of new investors that you should really understand. Gaming was not a thing. It was very small. There was niche projects like cryptokitties and things like that, but it was very small. And then when it took off, it was. It produced some of the biggest percentage, increased coins on the faces, all of crypto.
Understanding Emerging Narratives
If you look at the top ten by percentage return, like, two out of the ten were gaming cryptos. Now, for RWAs, it's like, in the same exact category, narrative wise, as gaming was last cycle, we've seen RWAs. It's been a thing, but it seems like this cycle with Blackrock, they're really branding it, and I believe it's going to be a major emerging narrative. Major emerging narrative. This is how I invest typically.
Essential Principles for Investment Strategy
So what I do is I look for market direction. There's three fundamental parts, and you guys should write this down. I highly recommend it. I use it for the structure of my hedge fund, and it will help you out with investing in crypto. There's three things. It's the market direction. Once you understand if we're in a bull or bear market. The second thing is picking a narrative.
Capitalizing on Real World Assets
And Rwas is top three. Rwas is huge. It's top three. If I already give it, like, it'd probably be like, AI meme coins. And RWA, I think, are going to probably out produce everything, and I might throw gaming in there. So RWA is huge. Once you do that, the next step is figuring out the coin within the ecosystem, and that's fundamental analysis. And that's what I meant when I said I vetted the coins and I found property. Top five.
Differentiating Market Trends
So proppy is in a confirmed. This is also big. There's narratives that are there that people talk about that are not confirmed, that probably won't do extremely well. They're like little side narratives that will kind of fizzle out during the bull market. They'll do okay, but they're side narratives. RWAs is a confirmed, confirmed. Like big money. Like, for a fact, I do. I think it's going to do very well.
Confident Predictions for Proppy
So, you know, property's in a confirmed narrative, and the fundamentals are extremely strong. So, you know, I just kind of wanted to lay that out, like, for my kind of, like, official thoughts on this, you know, and I'm very excited. For RWAs, so I was writing that down. Your first is market direction, then kicking direction. What's the third thing that we should write down?
Investment Steps for Success
Yeah, so it's market direction, narrative, and then fundamental analysis. So once you understand the market direction is bullish, then you pick the narrative you want to research, and then from there, you do fundamental analysis and compare and contrast all of the coins based off the variables of the coin, and it gives you, it kind of filters out into the high quality projects. Now, is there a bot that's already been built to facilitate that for you?
Utilizing AI for Investment Strategies
There's people in my group that we. That are building AI to be able to pull off the fundamentals automatically. It's pretty good. It does take a lot of the legwork away, but not a bot in a sense of being able to understand all of the variables and then, like, automatically executing trades. No, not like that. I'm a position trader, so there's different types of traders.
Various Trading Strategies Explained
Here's another thing you guys should write down. You should understand this as well. Very, very important. For crypto specifically. There's high frequency traders. They trade on like the 1 minute to 15 minutes timeframes. There's day traders. They trade on the daily timeframe. So they'll buy and sell within a day. Right. They're swing traders. They, they trade on the weekly, sometimes monthly timeframe. So they'll buy, sell within a couple months.
Position Trading and Market Cycles
And then there's what I do, which is a position trader. So a position trader holds for one, two, maybe three years longer periods of time. But I typically try to buy the bottoms and sell tops because the bitcoin having works in four year cycles. So I specifically chose this strategy to capitalize on the bitcoin having cycle, right. So I buy, and then within two to three years, I sell. And then there's the last one, which is investors. They hold for ten to 15 years.
Investment Perspectives and Strategies
They never sell. So I think the best thing is position trading, obviously, to capitalize on the bitcoin having just to throw that in there. So when you said bot, the reason why I explained that is because when you said bot, typically bots work with high frequency trades. So 15 minutes, 30 minutes timeframes, like, that's usually where bots shine. With me, it's a lot more personal, like kind of like humanistic, but it's not a lot of trading.
Personalized Trading Methods
I'm not like buying and selling on a consistent basis. Hopefully that makes sense. Yeah, that makes total sense. So this is a follow up question or follow up comment, right. Is my follow up to that is if you are going to be building a really well rounded portfolio, would you have some of your, you know, 30 to 45 minutes trades that you did with meme coins?
Investment Strategies
Right. So you're watching the up and down and watching the percentages and you're timing that. Then you're going to have like your bitcoin and your ethereum long holds that are your three, you know, two and three and four years, and then you're going to have your investment ones where you know for a fact that the new apple is going to come out. And so you just went in and bought $1,000 and you're going to hold it for ten years. Is it possible to build a portfolio like that in this realm, and especially when it comes to your property keys and real world assets with real estate and all of that stuff?
Portfolio Structuring
Yeah. So that's what a lot of people do. They'll structure their portfolio based off of risk parameters. Like they'll look at. Some people look at market cap. Personally, I don't, I think it's a bad metric. Some people look at timeframes, like what you explained. So, like they'll have some coins that they're quick with, some coins they hold for the super long haul. I mean, it depends on what type of trader you are. Personally, I typically, I don't invest in quote unquote safe coins, in my opinion. I just go for the big, like new emerging coins. I have a couple guardrails, right? I. So the first guardrail is I typically don't buy a coin that has already experienced a super blowout cycle.
Market Analysis
So property hasn't, if I'm not mistaken. But like, I'm talking about, for example, I wouldn't buy, it's not that I don't believe in it, but I wouldn't buy, like, litecoin or XRP. I think they're great projects in their own respect, but they diminish in returns. So, so typically, I'll buy new coins, like brand new ones, a new cycle and new narrative, and I typically only hold for. I buy low and I sell high. That's just the truth. I buy low on the bitcoin halving. So I bought a absurd amount, like months before the bitcoin having like three or four months before the bitcoin having.
Trading Philosophy
And then my goal is to time the top. And nobody's perfect with that, but my goal is to get out this cycle on all of my positions. That's what I do. Back in the day, I used to do the whole, like, hold ethereum, hold bitcoin, hold certain coins for, you know, long period of time. I personally, from my experience of being in crypto for eight years, I do not do that anymore. I try to buy low and I try to sell high. Now, Alex, I know that you came in late, so you didn't get to hear about this, but you said you like new coins, and I wanted Nina to explain because they're about to come out with another, a new coin for different purposes.
Collaboration and Innovation
And there they started using AI bots. And I know that you're big in that. So at Nina, if you don't mind, as soon as I can get it, get Alec Alex's schedule. I need to get you guys on a call because you guys are running down the same path right beside each other. And you need. Just need to look to your right and to your left. Hey, you're running with me because you guys are basically doing the same type of stuff. And you all definitely need to be locking arms if you're going to run beside each other. For sure. Tell him about. Yeah, the new coin you got coming out because I think he could really come in with the project and maybe help you guys with some advising.
Upcoming Events and Collaboration
And. And you're in Miami, he's in Orlando. They got a big summit with a big announcement coming up. Maybe you guys can get on the call and talk about that before and Alex can come down to the summit. Yeah, yeah. We'd love to have you, Alex. Yeah. Let's get on a meeting. Let's definitely connect. Let's do it. Yeah. Our summit's in Miami, November 7 and. 8Th coming out of too. So he can get in that he said he likes to get. Yeah. So proppy launched their token, you know, the one that you were just talking about in 2017.
Technological Advancements
And that's what we use today within the propykeys DAP to mint addresses and then to upgrade those addresses and put title on chain. But what we're doing is we've been testing out gaming as well, because we think it, you know, to your point, right, RWA gaming AI, we're seeing, you know, the writing on the wall and how that's just poised for growth. And so we did test out a game within the propertykeys ecosystem. And that's done very well. And so now we want to develop a couple mini games where people can learn about blockchain, about real estate, about rwas, but also earn tokens. So we are planning to launch a token called the pks token in Q one of next year.
Community Engagement and Growth
And that's just specifically a gaming token. That's amazing. Is it? With the property team like everybody from Poppy? Yeah, because that's. Yeah, so we're collaborating with the property team. Yeah, yeah, yeah. So we're collaborating with proppy, the property keys that the minting activity will always stay with proppy the pro token, but the gaming ecosystem will be powered by PKS. Okay. Yeah, you just got it confirmed on a big company that she said I wasn't allowed to say yet, but maybe she could tell you on a phone call. They just confirmed his partnerships with them, so.
Future Plans and Summits
And I think you'll be pretty bullish on that. Oh yeah. I think it's going to be a productive meeting. Yeah, we'd love to connect afterwards. So. Yeah, out loud mouth, let's make that happen. Yeah, just send him your contacts and then I'll put you on a group and telegram. Hey, I don't know if you guys are hearing this or not, but you are getting first hand alpha that's not even out yet. So that's one of the only ways you really can win in crypto is getting in first. Right? First wins around here, obviously.
Final Thoughts and Closing
And Alex just told you though, it used to be hodl, but if you don't get in first, it doesn't matter. Right? So these guys are doing some great stuff and you guys are here, so make sure you hit the little arrow at the top. Dm some friends. Tell them to get in here, tell them to relisten to the space because recorded and make sure that you meant some addresses. I want to go through the panel real quick and just tell everybody thanks for coming. 2%, you got anything to add? Any questions about private keys? Because I know you're a real Martin dev guy. You got to have some good questions for.
