DeFi
Blocksquare Subsidiary Oceanpoint Reaches Milestone: First Marketplace Pool Sells in Record Time
Square of blocksthe leading real estate tokenization and innovation protocol, has reached another major milestone with its recently launched Oceanpoint v0.5 decentralized finance (DeFi) platform. The first Marketplace Pool, initiated by Portio Capital for a co-living project, sold out in just 36 hours – an astonishing feat considering the 29-day campaign planned for the entire process.
This level of success on the new Real World Asset (RWA) real estate launchpad is unprecedented in the industry and underscores the importance of Blocksquare’s community-driven approach. While real estate investing and the power of user governance shine through in the case of Portio Capital’s co-living project, three key fundamental milestones have been achieved:
- Portio Capital’s coliving project reaches funding target of 100,000 sBST
- Full community support in less than 36 hours
- Portio Capital’s Coliving Marketplace is ready to launch
Communities build better
Oceanpoint v0.5 introduced Marketplace Pools, a community-backed funding process for real estate projects to seek support from those most likely to use and maintain ecosystems. Marketplace operators like Portio Capital present their real estate proposals to the community and if the operator’s project reaches a pre-defined funding goal (e.g. 100,000 sBST), it receives full community support and other incentives.
sBST refers to tokens staked by community members on Blocksquare, allowing the community to participate in the funding and governance of real estate projects. By staking Blocksquare’s utility token (BST), members can use their sBST to become more involved in all governance processes, influence the success of proposals, and receive higher annual percentage yields (APY) as a reward for staking.
Denis Petrovcic, Co-Founder and CEO of Blocksquare, expressed unquestionable enthusiasm for the launch of the Marketplace Pools feature, saying:
“This launch underscores Blocksquare’s commitment to advancing RWA tokenization through community governance and funding. Oceanpoint v0.5 fosters a decentralized marketplace ecosystem where community members and market participants have the tools and incentives to thrive.”
Little did Petrovcic know that the first launch would be a record-breaking campaign and set a precedent for all future real estate RWA marketplaces launched through Blocksqure’s Oceanpoint v0.5.
Portio Coliving reaches its funding goal in less than 36 hours
The coliving project, backed by Portio Capital, is the first real estate project focused on the provision of shared living spaces (coliving) and the first to be launched and funded through Blocksquare’s Oceanpoint v0.5 platform. In less than 36 hours, Portio coliving successfully reached its funding goal of 100,000 sBST, receiving full support from the community in just under two days.
Despite the campaign’s goal of reaching the pre-set target of 100,000 sBST in 29 days, 100% community support was received quickly in record time. As the first RWA real estate project to launch, its success bodes well not only for Blocksquare’s Oceanpoint v0.5, but for all projects now preparing to launch from the platform.
With the increasing need for co-living and the modern urban housing crisis, shared living spaces are becoming the preferred option for community-oriented individuals and groups. Portio coliving saw this potential gap in the market, proposed its RWA co-living real estate project to Blocksquare’s governance, and the results now speak for themselves.
The European company has enjoyed massive support from the community and is set to grow even more influential in external communities as inflation, housing costs and mortgages increasingly weigh on younger generations. This unprecedented success opens up a whole new avenue for investment, sustainability and efficiency in a market that is looking for substantial innovations that are built to last.
Oceanpoint v0.5: Record Breaker, Dream Maker
Oceanpoint v0.5 marked a significant upgrade within the Square of blocks ecosystem by establishing a platform capable of creating community support, funding, and RWA platform launches in one place. By introducing features that allow participants like Portio Capital to launch new, fully supported tokenized real estate marketplaces, the platform is a pioneer in this space.
With Oceanpoint’s double-lock mechanism, investments from community contributions and operator stakes are both locked to ensure the security of both parties. This seemingly simple but essential tool ensures the stability of funded projects and the long-term commitment of project creators and the community that funds them, reducing risks for investors and innovators.
As RWA tokenization continues to snowball in the crypto space, Blocksquare has positioned itself at the forefront, ready to show traditional finance (TradFi) and DeFi the path to success. This initial success of Portio coliving via Oceanpoint v0.5 is a testament to the potential of RWA’s launchpad in real estate and the untapped power of the community’s support and trust behind Blocksquare’s vision.
Oceanpoint v0.5 and its Marketplace Pools features set a new standard for RWA investment opportunities in real estate, providing a more accessible, efficient, and transparent space to support community building. This record-breaking milestone is a huge achievement, but it is just the first of many to come as a new era of real estate tokenization begins, built on Web3 innovation and truly decentralized governance.