T
he blockchain industry has long promised that tokenizing real-world assets (RWAs) would increase access to expensive assets and bring liquidity to previously illiquid markets. The NYREF project is now delivering on these promises with its New York City tokenization venture.

    Tokenization represents ownership of an asset, such as a property, with digital tokens on a blockchain. This makes it easier for a wider range of users to participate in the market by buying, selling, and trading tokens. Tokenization is particularly relevant to real estate due to its inherent illiquidity and high entry barriers. By dividing property ownership into smaller fractions represented by tokens, it becomes more accessible and affordable.

    NYREF is using the Avalanche network to tokenize an $18 million property in New York City. Anyone can purchase tokens representing partial ownership of this property through the project's official marketplace, opening up new opportunities to participate in the NYC real estate market and potentially benefit from rental income and property appreciation.

    Tokenization offers several benefits that improve the real estate market: increased accessibility, improved liquidity, and enhanced transparency. NYREF has developed a full package including rental distribution and profit sharing upon sale, ensuring token holders benefit from potential property appreciation and receive a share of the rental income generated by the property.

    The first property tokenized in New York City is 3187 Grand Concourse, a modern multi-family building in the Bronx's Bedford Park neighborhood. This nine-story building features 32 residential units, generating rental income through a lease agreement with the US Government. The property earns a 5.52% annual return for token holders, with a minimum 3% yearly increase.

    The NYREF marketplace makes trading tokenized real estate simple. To purchase tokens, visit the NYREF marketplace, create an account, complete the KYC process, and select your preferred cryptocurrency for payment. Accepted cryptocurrencies include USTD, USDC, AVAX, and Ethereum. Support is available on the official social media channels.

    NYREF's goal is to bring accessibility to the New York City real estate market through tokenization. The project believes that everyone should have access to this market, and its solution and marketplace are designed to achieve this goal.