Brickwise aims to make the trading of digitized real estate shares (tokens) possible with just a few clicks and, according to reports, has commenced a soft launch of its blockchain-based platform at the end of September. In anticipation of its official market debut next week, the company announced the completion of a seed funding round amounting to 3.1 million euros. Besides Munich-based venture fund yabeo as the lead investor, two family offices from Germany also participated.
Brickwise intends to utilize the raised capital for marketing and further product development. "Our vision is to make real estate investments easily accessible to everyone," says Michael Murg, CEO and co-founder of Brickwise.
Shares of digital real estate in a blockchain-based registry
At Brickwise, real estate is divided into small digital parts and registered on a blockchain-based registry, which functions as a digital land registry. Unlike crowdfunding platforms in the real estate sector, investors are economically equal to property owners at Brickwise, as explained by Michael Murg.
Investors will receive their share of current rental income, as well as benefit 100% from the property value increase.
Furthermore, Brickwise exclusively offers properties that have already been constructed. From a legal standpoint, investors acquire tokenized securities on the blockchain.
Prior to the current funding round, Brickwise reported a six-figure grant from the Vienna Business Agency. This funding is intended for the development of a launchpad that sellers can use to list properties directly on the Brickwise platform.
