15 Feb, 2022, 13:10 ET
LOS ANGELES, Feb. 15, 2022 /PRNewswire/ -- Vesta Equity, an innovator in the financial and real estate space, is announcing the launch of their global real estate-backed NFT platform and marketplace on Algorand. Vesta is the world's first peer-to-peer marketplace for real estate-backed NFT assets that allows homeowners to easily leverage and sell a portion of home equity while simultaneously advancing housing affordability, economics, and frictionless investor accessibility to residential real estate.
Vesta's solution allows property owners to easily access the value of their holding through tokenization and selling percentages of real estate-backed NFTs to investors on its peer-to-peer marketplace. In turn, investors can browse a searchable marketplace, make offers for desired assets, and leverage liquidity on the secondary market or in the event of the traditional sale of the property.
Their goal is a 100% seamless and automated process in which the century-old-complexities of home equity finance are removed. Vesta addresses the issue of real estate affordability while eliminating barriers to the market for all investors, democratizing wealth creation by providing unhindered access to this bedrock of wealth creation.
To date, NFTs have been focused largely on digital assets. Vesta Equity directly couples a real-world, tangible asset and established values with the advantages of digital distributed technology. Vesta Equity developed its NFT platform and marketplace on Algorand because it is purpose built as a fully decentralized, scalable, and secure blockchain that surpasses all other platforms thanks to its novel pure proof-of-stake foundation and its focus on enabling the transition from traditional finance models to the distributed future.
"Imagine a world where with a few clicks of your mouse you can access the entire accumulated value of the equity in your home without incurring debt or selling and moving," said Michael Carpentier, CEO of Vesta Equity Inc. "At the other end, investors can participate by purchasing into the future appreciation of the property and build a portfolio of real estate assets like they do with stocks. With the forecasted rising value of residential real estate this is an extremely desirable asset class that we have simplified for anyone to leverage."
"Vesta Equity is totally innovating the home equity market," said Imran Rahaman, COO of Vesta Equity. "With today's launch, we become an example of a company using blockchain for what it was designed: to remove friction from traditional exchange of value systems, and to open up new financial opportunities for people everywhere."
For more information on Vesta Equity and their home equity financing solution, please visit: https://www.vestaequity.net. To sign up as a property owner and access the equity in your home or as a property investor to build a portfolio of real estate assets, please visit: https://vestaequity.net/sign-up/. Follow us on twitter @vestaequityvpm.
For more information on Algorand please visit: https://www.algorand.com/.
About Vesta Equity
Vesta Equity is building the future of home equity financing. Homeowners and property investors traditionally tethered to age-old institutionalized financial practices will be free to manage their assets and investments to serve them best. Through tokenization and Vesta Equity's Property Marketplace, homeowners and investors will be able to deal directly with each other without using intermediaries that carry burdensome costs, one-sided terms, and risks. Vesta Equity's proprietary approach of coupling tokenization with smart contracts will enable homeowners to sell a portion of their home to investors while retaining their residency. For the homeowner, it means no more debt, compounding interest, and monthly payments. Investors will now have the freedom and ease of access to build and manage a portfolio of property types across geographies and partake in property appreciation with 100% asset transparency. Vesta Equity is enabling an open market integrated with blockchain's immutability to create a more inclusive and dynamic model for the multi-trillion-dollar global home equity market
Algorand is building the technology to power everything from the creator economy to the convergence of traditional and decentralized finance. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for anyone to transition into the new digital economy. The leading decentralized infrastructure of choice for visionary leaders across more than 1000 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.
SOURCE Vesta Equity
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