“With this investment, the company will seek to accumulate knowledge about real estate investments utilizing blockchain technology and build a platform for global real estate transactions in addition to those in Japan by integrating the expertise of both companies,” Lifull said in a news statement.
BitofProperty allows small investors to invest in carefully-screened real estate assets from multiple countries. Investors then earn rental income while the property is advertised to multiple buyers to speed up the sale process.
The platform uses blockchain technology to maintain ownership records. It sources investment properties and manages them against a unique compatible token for each investor. BitofProperty also owns a subsidiary in Estonia.
Japanese property sites are luring foreign investors to income-producing properties in the country through ad-sharing agreements with international realty players. Start-ups SekaiProperty and ReThink Tokyo are building connections between foreign buyers and investment properties. The market dealer Suumo.jp also deals in the special category.