Propy, Inc.
| Private | |
| ISIN | 🆔 |
| Industry | Real estate technology |
| Founded 📆 | 2016 |
| Founder 👔 |
|
Area served 🗺️ | |
| Services |
|
| Members | |
Number of employees | |
| 🌐 Website | propy |
| 📇 Address | |
| 📞 telephone | |
Propy, Inc. is an American real estate technology company founded in 2016 and based in Palo Alto, California. It develops software for property transactions, including online title and escrow services that use blockchain record-keeping.[1][2]
History
Propy was established in 2016 by Bulgarian entrepreneur Natalia Karayaneva, with Denitza Tyufekchieva as a co-founder.[3][1]
In 2018, the company collaborated with officials in South Burlington, Vermont, to test blockchain recording of property transfers. Industry outlets described the pilot as among the first municipal experiments with blockchain deed registries in the United States.[4][5]
In 2019, the National Association of Realtors invested in Propy through its venture fund, citing interest in blockchain applications for real estate.[6]
The World Economic Forum included Propy in its Technology Pioneers program in 2021.[7]
In June 2021, media reported that Michael Arrington, founder of TechCrunch, sold an apartment in Kyiv through Propy’s NFT-based transaction system.[8]
During 2022, the company introduced a blockchain-based title and escrow system in the United States.[2][9]
In February 2022, a house in Gulfport, Florida, was auctioned using Propy’s platform. Coverage in the Tampa Bay Times described it as the first single-family home in the United States to be sold with an NFT.[10] Reports indicated that more than 7,000 people registered to bid,[11] and the final sale price was about $654,000 in cryptocurrency.[12][13]
Operations
Propy’s activities focus on providing digital infrastructure for real estate transactions. One of its main offerings is a title and escrow system that enables property closings to be completed online while also recording elements of the process on a blockchain.[2][9]
The company has also developed mechanisms for linking real estate transactions with non-fungible tokens (NFTs). In this model, ownership of a legal entity holding a property can be transferred by means of an NFT, allowing the sale to be conducted through blockchain-based marketplaces.[14][15]
In addition to its own platforms, Propy incorporates features through partnerships. An agreement with Parcl introduced analytics tools for NFT real estate markets,[16] while a collaboration with Abra explored options for crypto-backed mortgage products.[17]
See also
References
- ↑ 1.0 1.1 "Propy, a blockchain-verified platform for selling houses, raises funding from Tim Draper". TechCrunch. 2020-10-02. Retrieved 2025-10-06.
- ↑ 2.0 2.1 2.2 "Propy launches new blockchain-based title and escrow product". Inman. 2022-05-19. Retrieved 2025-10-06.
- ↑ "Propy". Startup Luxembourg. Retrieved 2025-10-06.
- ↑ "Vermont City, Real Estate Startup Try Out Blockchain for Recording Property Transactions". Government Technology. 2018-01-24. Retrieved 2025-10-06.
- ↑ "Propy launches blockchain pilot in Vermont to record real estate transfers". Inman. 2018-01-24. Retrieved 2025-10-06.
- ↑ "NAR invests in blockchain startup Propy". HousingWire. 2019-02-15. Retrieved 2025-10-06.
- ↑ "Propy". World Economic Forum. Retrieved 2025-10-06.
- ↑ "TechCrunch founder sells his apartment as an NFT". BeInCrypto. 2021-06-09. Retrieved 2025-10-06.
- ↑ 9.0 9.1 "Propy Launches Blockchain-based Title and Escrow Services". American Land Title Association. 2022-06-07. Retrieved 2025-10-06.
- ↑ "This Tampa Bay home is being sold as an NFT". Tampa Bay Times. 2022-02-04. Retrieved 2025-10-06.
- ↑ "NFT home auction in Florida draws 7,000 bidders". Fortune. 2022-02-08. Retrieved 2025-10-06.
- ↑ "NFT house sells for $654K in historic auction; Tampa condo up next". Tampa Bay Times. 2022-02-11.
- ↑ "NFT Florida home sale nets $654,000 in crypto". Fortune. 2022-02-12. Retrieved 2025-10-06.
- ↑ "Propy launches NFT platform in the US allowing real-world property to be bought as an NFT". TechCrunch. 2022-01-27. Retrieved 2025-10-06.
- ↑ "NFT Florida home sale sets precedent as Propy auctions property for crypto". Fortune. 2022-02-14. Retrieved 2025-10-06.
- ↑ "Propy, Parcl announce partnership to bring analytics to NFT real estate". HousingWire. 2022-05-19. Retrieved 2025-10-06.
- ↑ "Propy and Abra team up for crypto-backed mortgages". HousingWire. 2022-07-27. Retrieved 2025-10-06.
External links
This article "Propy (company)" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Propy (company). Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
