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You may have noticed a trend over the last few years. Simply put, if there’s an industry out there there’s a think tank trying to shoehorn blockchain into it. From tracking conflict diamonds to tackling fake news when it comes to innovation and disruptive technology, blockchain is still the new black. Now it goes without saying blockchain is versatile and honestly, it’s probably a pretty good fit in most situations. However, the property market is one scene that needs all the blockchain it can get, and thanks to new upstarts Firmseed, it’s about to get it in spades.
Laying the FIRMament
The idea is as simple as you’d expect. Firmseed plans to decentralise the housing market by allowing investors to purchase digital fractional ‘shares’ in an ever-growing property portfolio. Of course, there’s more to it, and there’s a whole whitepaper to fill you in, but at heart, Firmseed invests the new capital into the property market. In turn, investors can get a proverbial foot on the property ladder for as little as $10. Think of it as crypto-meets-social investment, which then meets a property tycoon or ten. As I said, there’s a lot more to it, but there’s the nutshell, and as nuts go, it’s a tough one to crack.
How does Firmseed work?
Well, at its core Firmseed is a defi platform with its own token, its own Android and IOS apps, and its own infrastructure. The coin is called FIRM, and it’s the utility token that powers the whole system.
Unlike other many other tokens, the team behind FIRM isn’t promising the token will ‘shoot for the moon’, help you 10X your wallet, or make any other fanciful predictions. That’s not to say it’s a bad investment, though. The truth is, it’s FIRM’s utility that’s the real ingredient in its secret sauce, and that’s where Firmseed stands out from its competitors.
A token FIRM
As you’d expect investing in the platform is done via FIRM, but the coin has some other neat tricks up its alley. As well as being an investor of Firmseed and therefore an investor in the platform’s property portfolio (at least in part).
Asset token holders will hold digital shares in said portfolio and as those physical assets bear fruit be it from rental agreements, property flipping, or just good old appreciation, these investors will see fractional rewards based on their fractional investments. For many the steep entry fee bars the way into the lucrative world of property investing, but thanks to its shrewd ‘fractional shares’ Firmseed will finally be able to level the playing fields for everyone.
FIRM favourite
Of course, a share of the loot isn’t the way to leverage your FIRM tokens. Token holders will also be able to temporarily borrow security tokens (BUSD) against their FIRM tokens thus allowing them to leverage these assets without the need to sell their asset tokens. Another plan is to allow holders to auto-compound the rental yields of a property, i.e. to automatically buy more Asset Tokens.
Over time, this will also increase rental yields and improve the return on asset investment. It’s these nifty utilities that make FIRM look like a solid investment without worrying about 10Xing your cash or losing your shirt.
Final thoughts
Whether or not Firmseed succeeds in finally decentralising, democratising the housing market, or finally bringing blockchain to the neighbourhood, is a question for future historians, but its potential is as promising as it is intriguing.
As the project nears the starting gate you may have heard the odd mention of Firmseed or its token FIRM from A-list sites like Bloomberg, Yahoo Finance, and Cointelegraph, or in articles like this one on Blockster and you won’t be surprised to know there’s a buzz around the Whitelist. However, you might be surprised to know there’s still a chance to bag yourself a potential free $10 worth of FIRM by getting your name down.
You can find out all you need to know about Firmseed, their savvy CEO Emeka Uzoewulu, the APP rollout, and the FIRM presale by flowing the links below.
Media Details:
Website: https://www.firmseed.io
Twitter: https://twitter.com/firmseed
Instagram: https://www.instagram.com/firmseed/
Contact: hello@firmseed.io
Whitelist: https://firmseed.io/whitelist/
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.