LOS ANGELES, CA, July 11, 2022 (GLOBE NEWSWIRE) — PlayEstates, a Web3 gaming platform, has launched its fractional ownership model, which allows gamers to own real-world real estate assets. The team is riding on the rise of play-to-earn gaming to build a revolutionary project accessible to everyone around the world. With the launch of the fractional ownership model, PlayEstates became the first non-fungible token (NFT) gaming platform backed by real-world real estate assets.
The real estate industry is the largest asset class globally, and there is currently a huge fear of missing out (FOMO), especially among the younger generation. As a GameFi platform, PlayEstates collateralized its ecosystem to real estate, proving to be one of the strongest investment vehicles in our world, enabling users to earn and build wealth while enjoying varieties of games and the fun that comes with it. Unlike most existing play-to-earn gaming platforms, PlayEstates enables its gamers to build wealth through gaming, and own real estate assets one piece at a time. Its mission is to help the vast majority of people gain financial independence as they seek to build generational wealth.
The PlayEstates’ Fractional Ownership Model
This is a unique and first-of-its-kind market design where gamers have fractional ownership of a real-world real estate asset. PlayEstates has an elite team of real estate professionals who are in charge of finding top-notch properties, with the best price-performance ratio. At PlayEstates, they understand that having a high APY is important, but so is the condition of the property and location— which is why they only select high quality assets to invest in. Gamers will own part of these real estate assets simply by owning the PlayEstates’ fractional token. By leveraging blockchain technology and Web3, PlayEstates has fractionalized ownership of real world assets in the form of NFTs. The NFTs will serve as rewards for the members of the community.
The PlayEstates’ fractional token (PFT) is instrumental to the functionality of this model. The real assets provide a stable collateral not only for the PFT tokens but also for the platforms’ utility token, OWND, which allow holders to transact, play games, and earn rewards in different PlayEstate games. Anyone can be a player and enjoy the ESTATES-backed games and earn OWND tokens in the process. Players will also have chances to earn the PFTs which represent fractional ownership of a real estate asset and serve as proof of ownership. Traditional real estate assets are generally illiquid; therefore, it is often difficult to sell them quickly. However, with the PFTs, one can easily sell off whenever they want.
These PlayEstates’ fractional tokens afford holders with many opportunities such as owning an increased percentage of real estate assets and earning passive income. The PFT holders can also sell the token for cash or exchange it for other cryptocurrencies. They can also partake in decision making processes within the PlayEstates’ ecosystem. PlayEstates also introduces the membership token for people to use as a gateway to their platform.
PlayEstates is the first play-to-earn blockchain-powered gaming platform to enable gamers to own real-world real estate assets. The platform combines exciting gaming experience with real earning opportunities in real estate ownership. It enables gamers to reduce the uncertainty of owning uncollateralized crypto assets. Unlike other GameFi projects, PlayEstates’ ecosystem allows users to build and accumulate wealth over time. The users can decide to sell for quick profits, or they can choose to accumulate assets and build a unique portfolio for the future. The project founders have combined experience in gaming, real estate, venture capital, and the international business market. According to the team, they aim to help gamers worldwide have their own house, starting with fractional ownership of real estate assets.
Contact: William Guo, CEO/Founder
Email: [email protected]