First Condominium of Tokenized Houses Launched in Brazil

With a triple-A certificate for transactions from SolidProof (a German company specializing in blockchain security) and the approval of the CVM, Ribus announced the first tokenized multi-property home condominium.

The pioneering venture in the real estate tokenization market, called Viverde, is located in Itaipava, a mountainous region of Rio de Janeiro. It was developed based on the company’s main premises, according to the press release.

Read more about the first condominium of tokenized houses in Brazil, and find the latest financial news of the day with the Born2Invest mobile app.

Brazil: What is the first condominium of tokenized houses?

These include democratizing access to the real estate market and reducing bureaucracy in blockchain transactions, which also expands marketing possibilities.

Ribus CEO Marcelo Magalhães detailed the project: “Viverde was inspired by the unforgettable moments we treasure; This is the experience we want to offer. A place to collect moments. In addition, it is located in a natural area with several possibilities for outdoor leisure, which is important to take care of mental health on busy days.”

The project features high-standard residences under development, with options for single-story homes with 3 or 4 suites. Each unit is equipped with a gourmet area, a garden, and a private heated pool.

The condominium of tokenized houses offers a variety of common spaces, including a party room, barbecue area, children’s playground, fire pit, and sports court.

In addition, it has complete technical infrastructure, a 24-hour security guardhouse, parking spaces for visitors, and “paid use” services that provide various amenities.

How tokenized timeshare will work in Brazil?

This concept of including luxury homes in condominiums is not new, but the tokenization of multiple properties is. Viverde will have options to buy the whole house or in the innovative form of Tokenized Multi-property, the first in Brazil, says Ribus.

Each buyer will be able to acquire 1 month of use per year, optimizing condominium and operating costs, and providing greater accessibility, where each share of the timeshare will have its own RGI, i.e., with its own registration number.

In addition, the condominium of tokenized houses will have services such as concierge, maid, and other facilities to enhance the living experience.

Another benefit of the location is that the project will reuse rainwater, have solar energy, and promise sustainable construction.

Token Ribus and its timeshare tokenization in Brazil

Ribus was the first in the sector in Brazil to develop the first token created exclusively for the real estate market. The objective is to provide access to specific services or products sold on platforms within the Ribus ecosystem.

Ribus appreciation is not linked to token adoption, as a significant portion of the capital invested by token holders is allocated to real estate transactions.

As a result, half of the proceeds are allocated to the market, while the other part is reinvested internally by the company, through the token buyback and burning process. The method not only creates scarcity but also acts as an effective mechanism to prevent token devaluation.

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(Featured image by imagemarketingaus via Pixabay)

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First published in BE [in] CRYPTO. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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