BRIKN The World's First Property DAO Ecosystem Powered Through Blockchain

LONDON, Sept. 1, 2022 /PRNewswire/ -- Previously, transacting assets such as property exclusively through digital channels has not been the norm. UK-based property development company Brik by Brik has announced the launch of BRIKN, its DAO ecosystem on the blockchain that rewards holders of the token from the revenue the company generates from its soon to be vast property portfolio. The company is targeting a property portfolio of £50 million within the next five years.

Brik by Brik Director Mark Goodman said: "Investing in real estate has for a long time been one the world's favourite tools to achieve financial freedom. Now, with blockchain technology, we're making cryptocurrency real estate investments easier and more accessible to everyone. Imagine being able to have fractional ownership of multiple income-generating properties from an investment as low as $500. This is next generation property investment powered through blockchain."

Crypto real estate investing is the process of tokenizing real-world properties and offering them as fractional property-backed crypto investments to investors. In other words, a real estate property is purchased through fiat via the sale of the token and investment received, and the token represents a percentage of the property portfolio. BRIKN however is looking to reward owners of the BRIKN token with percentage of the entire property ecosystem. Tokens are linked to the properties through the use of smart contracts that execute rent payments and distribution to investors of tokens automatically through the BRIKN Vault staking platform.

By allowing fractional ownership of the ecosystem's rewards, blockchain lowers the barriers to investing in real estate. The traditional real estate investment process presents a number of hurdles to potential investors. For example, in order to purchase a rental property, a prospective investor will often require a mortgage – in effect, eating into the property's bottom line. The investor must also take care of managing tenants, the upkeep of the property, paying taxes on the property and ensuring compliance with the law. Real estate has long been viewed as an illiquid asset because it takes time for purchases to conclude. This is not the case with tokens, which can be bought and sold in a matter of seconds. And unlike real estate investment trusts (REITS), the advantages of tokenization include the ability to invest in a single property rather than a fund, voting and governance rights over the property, more frequent payouts, lower overheads, fewer management fees and a lower minimum investment.

Headquartered in the UK, Brik by Brik aims to become a leading national multi-sector property developer with a main focus on Below Market Value properties that deliver high rental yields. Working closely with its partners, ranging from well-known property sourcing companies, investment houses to solicitors, agents and auction houses Brik by Brik delivers exceptional quality development and investment projects across residential and commercial property sectors throughout the UK for both private and public sector customers, diversifying risk for investors and token holders.

60% of the profits from the properties' rental yields and sales will be sent to the BRIKN vault. Stakers in the vault become part of the Decentralized Autonomous Organization (DAO) and will receive an evenly distributed amount in proportion to the tokens they are staking in the vault in USDT every single month, all they have to do is contribute to the DAO ecosystem by voting. They are also planning to Airdrop exclusive NFTs which will grant the owner governance and voting rights in the DAO ecosystem.

Founder and Head of UK Operations Mark Goodman has been a leading figure in new build housing construction and residential renovation in the North West for the past two decades, and he has overseen property development projects to a total of around £500 million in value. His extensive network includes partnerships with a number of leading developers such as Taylor Wimpey, Kier, Barratts, Redrow, Bellway, Charles Church and Keepmoat.

Website: www.brik-by-brik.co.uk

Website: www.brikn.io 

SOURCE Brik by Brik Limited