Users can earn PRO tokens by minting and storing onchain addresses and title deeds.
PropyKeys, a tokenized real estate project deployed on Base, an Ethereum Layer 2 network, has opened its doors to the public.
Anyone can now use the PropyKeys app to mint digital addresses corresponding to physical properties, ranging from home addresses to global landmarks. The project aims to enhance property deed security by shifting from paper-based to digital systems on the blockchain, thereby combating deed fraud and streamlining the process of buying and selling homes.
PropyKeys is a part of the Propy ecosystem, whose PRO token is up 45% in the past month but remains 85% below its 2018 high.
Today, the platform is introducing a staking mechanism that rewards users with PRO tokens to mint and safeguard onchain addresses and title deeds. Additionally, users can mint AI-generated global landmark NFTs, which can be personalized with cryptocurrency logos and styling.
During a two-month beta testing phase, nearly 1,800 addresses were minted, according to a Dune dashboard. Holders have the option of transferring the NFTs to the corresponding property owners in exchange for additional staking power.