mogul (mogul.ooo), the Tim Draper-backed real estate investing platform, launches its first investment property. Today at 1pm EST, the blockchain platform will offer ownership in a Dallas, TX single family rental through the issuance of $1 tokens.
Formed by two Goldman Sachs real estate investing alumni, the mogul.ooo platform lowers the prohibitively high barriers-to-entry of the real estate investing industry.
mogul.ooo applies blockchain to the inefficiencies in the traditional real estate industry. Through strategic implementation of blockchain, the platform drastically lowers the barriers-to-enter of real estate investing and provides everyone the ability to directly invest in cash-flowing rental properties.
The platform passes along all the traditional benefits of investing in real estate (appreciation, passive income, tax deductions, and positive leverage) with additional benefits derived from the strategic application of blockchain (real time appreciation, daily dividends, reduced transaction costs, flexible hold periods, property-level governance, and incredibly low-time & capital commitments).
As they scale their offerings, mogul.ooo is the blockchain oracle for real estate, connecting on-chain events with off-chain assets.
Alex Blackwood, CEO and Co-Founder of mogul.ooo, said: “Blockchain revolutionizes the ways in which we think about real estate as an asset class.”
“The technology can cut down on transactional costs, improve efficiency and transparency, and open access to a whole new group of investors. With today’s launch, we are taking giant leaps in removing the prohibitively high barriers-to-entry associated with real estate investing,” Alex added.
Draper Associates and other seasoned investors, including Rosa Rios, 43rd Treasurer of the United States, participated in the platform’s Pre-Seed round for an undisclosed amount. The funding has been used to drive the development of the leading blockchain platform for real estate and to strategically apply blockchain throughout the real estate supply chain.
Tim Draper, founding partner of Draper Associates, said: “Leveraging blockchain technology, mogul unlocks equity for investment property owners and takes the work out of ownership. The mogul team’s experience and ambition drove our investment in them, and we at Draper Associates are thrilled to help them fulfill their mission to democratize real estate investing.”
Tim Draper founded Draper Associates, DFJ and the Draper Venture Network, a global network of venture capital funds. Funded Coinbase, Baidu, Tesla, Skype, SpaceX, Twitch, Hotmail, Focus Media, Robinhood, Athenahealth, Box, Cruise Automation, Carta, Planet, PTC and 15 other unicorns from early/first rounds.
Today, users can sign up, deposit funds, and invest on the platform through mogul’s partnership with Circle and Plaid.
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