Together, Propy and Parcl will improve the PropyKeys platform, which has already tokenized over $10 billion in US houses and is expected to tokenize over $50 billion by year's end.

Propy's project will leverage the Parcl Labs API to enhance analytics and property value. With this access, which can be attained by purchasing and staking Parcl's $PRCL token, new real estate markets should be able to join the blockchain.

Property and blockchain technology

Propy has successfully on-chained 200,000 addresses in just three months, including 80,000 residences in the United States, many of which are for sale right now.

Thanks to its technology, Parcl provides a comprehensive library of housing market information by aggregating data from over 5,000 sources. It looks at sales, rents, and listings that are indexed and available at the property level.

Their partnership aims to promote accessibility and security in international real estate markets by providing consumers with state-of-the-art tools for dealing with on-chain real estate.

Propy's CEO, Natalia Karayaneva, stressed that this collaboration advances the company's objective of safeguarding and advancing the real estate industry by offering precise and frank property assessments.

"Our partnership with Parcl is taking this vision to the next level. Propy's mission has always been to elevate and secure the real estate market," Karayaneva stated.

Trevor Bacon, CEO of Parcl, emphasized how this partnership has the ability to redefine expectations in the real estate industry.

"We are thrilled about the possibility of using Parcl Labs data to power additional onchain applications," Bacon stated. "We anticipate that this partnership will enable additional applications for Propy and serve as an example for others wishing to innovate in the real estate sector."