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New York, March 28, 2023 -- Homebase, a platform tokenizing residential real estate on the Solana blockchain, today announced it has sold out its first tokenized single-family rental property. The McAllen property, which was made available for investment through Homebase, received overwhelming interest from investors looking to diversify their portfolios and generate passive rental income and sold out in under two weeks.
By leveraging the power of the Solana blockchain, Homebase has made it possible for anyone in the US to invest in residential property, regardless of their financial background or location. Using blockchain technology, Homebase provides investors the ability to purchase tokenized single-family rental properties with one click, and transact with USDC, cutting the time and cost incurred by legacy systems.
"We are thrilled with the overwhelming response to our first tokenized property in McAllen," said Domingo, CEO of Homebase. "This achievement is a testament to the potential of blockchain technology revolutionizing the real estate industry and democratizing access to investment opportunities."
Each property on the Homebase platform is fractionalized by non-fungible tokens, which are issued through a Regulation D security token offering under the Securities Act. This makes it easier and more accessible for the average person to begin building wealth using real estate completely online and on-chain.
"We are excited about the potential of our platform to improve real estate liquidity and make investing in this market more accessible to a wider range of investors," said Alex, COO of Homebase. "We look forward to offering more investment opportunities in the future."
Homebase is already working on its next tokenized property, with plans to expand to additional markets throughout the United States. The team is committed to providing a seamless and secure investment experience for its users and is excited to continue pushing the boundaries of what's possible with blockchain technology in the real estate industry.
About Homebase
Homebase is a platform that enables users to invest in tokenized residential real estate for as little as $100. Using blockchain technology, Homebase provides investors the ability to purchase tokenized single family rental properties with one click, and transact with USDC, cutting the time and cost incurred by legacy systems. For more information about Homebase and to start your real estate investment journey today, visit https://homebasedao.io/.
About Solana
Solana is a blockchain built for mass adoption. It’s a high performance network that is utilized for a range of use cases, including finance, NFTs, payments, and gaming. Solana operates as a single global state machine, and is open, interoperable and decentralized. For more information, please visit https://solana.com.