In an already speculative market, Aperture's Property Coin lets investors in on home fix-and-flip model
El Segundo-based startup Aperture Real Estate Ventures plans to launch a real estate-backed cryptocurrency by the end of February.
The company said it will give investors an “opportunity to own a professionally managed portfolio of real estate assets via the blockchain.”
When an investor buys Aperture’s so-called Property Coin, the person is buying into a fund backed by the company’s fix-and-flip portfolio.
Money raised in the initial coin offering will be invested in properties around the country selected by Aperture’s staff and its own algorithm, according to a report in Inman. Property Coin is built on Ethereum, a blockchain platform with an $84 billion market cap, second to Bitcoin worldwide.
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