Parcl, “a blockchain-based platform that allows users to invest in a digital square foot of real estate in the most desirable neighborhoods around the world”, is achieving its mission of making real estate accessible to all.
The company announced a $4.1M Series Seed led by Archetype, with additional funding from Dragonfly Capital, ParaFi, Shima Capital, Coinbase Ventures, Solana Ventures, Slow Ventures, Not Boring Capital, Tribe Capital, and FJ Labs, according to the release.
Parcl requires no minimum investment, offers immediate liquidity, and carries low transaction fees so investors can now trade their favorite neighborhoods just like they trade Bitcoin, Ethereum, or other crypto assets.
The Parcl Data Feed continuously tracks the underlying price movement in any Parcl, allowing users to benefit from broad (or highly granular) exposure to desirable real estate.
Parcl's mission is to bring real estate to everyone, regardless of background or economic standing.
Ash Egan of Archetype said, "Parcl is building a web3 primitive for real estate investors and enthusiasts around the world, and we are ecstatic to be supporting Trevor and the Parcl team in their journey towards becoming a globally recognized brand."
“Real estate offers among the most consistent and attractive risk-adjusted returns but comes with notoriously high barriers to entry and is increasingly dominated by large, well-capitalized investors.
By allowing users to interact with the digital representation of property values from highly sought-after neighborhoods and regions, Parcl gives everyone the chance to participate in the real estate market without the burdens associated with owning or transacting in hard assets.
Further, by developing this platform in the blockchain ecosystem, Parcl is opening the floodgates to reshape an outdated and largely broken industry.
Through increased transparency, expanded access, and up-to-the-minute data, Parcl will provide the most accurate and actionable representation of real estate market values yet,” according to the release.
Trevor Bacon, Parcl CEO, states, "We're thrilled to be working with Archetype, ParaFi, Coinbase Ventures, Solana Ventures, and a phenomenal group of investors to decentralize and digitize the real estate market as well as make the dream of real estate investing easier and more accessible for everyone."