World鈥檚 first digital real estate exchange launched by ALT Realtech
21 Mar 2023
2 Min Read
CW Team
The world's first digital real estate market, ALT DRX, was introduced by Bengaluru-based fintech
startup ALT Realtech. It enables investors to purchase one square foot of real estate at a time. The
business, which plans to operate in India first, has secured $1.6 million in equity and $2 million in
callable mezzanine debt as part of its seed round for co-investing in real estate assets.
One of India's leading legal firms, well-known family offices, prominent startup founders, and senior
executives from MNCs all participated in ALT DRX's seed round as investors. According to Anand
Narayanan, Founder, ALT Realtech, 鈥淎LT DRX expects the new platform to solve the problem of
illiquidity in mid-size real estate assets and possibly open the gates for capital to move into socially
relevant, rent-yielding real estate assets such as rental housing, hostels, care homes, holiday homes,
schools, industrial warehousing, high-street retail, hotels, and managed offices.鈥�
Owners of these real estate assets will be able to convert their real estate ownership into tokenized,
traceable digital assets thanks to ALT DRX. 鈥淥ur platform will help, say, a 50,000-square-foot
building to be tokenized into 50,000 tradeable digital assets, each holding an economic value
proportionate to 1 square foot of the said property,鈥� he said.
The pre-qualified, KYC-compliant registered customers on its platform can then instantly buy, hold,
trade, and settle these tradeable digital assets. Avinash Rao, Founder, ALT Realtech said, 鈥淭he
platform uses a permissioned, centrally managed blockchain-based ledger protocol that restricts the
transfer of these digital assets to foreigners while attempting to build user credibility by using Zero
Trust Architecture."
鈥淭he democratisation of real estate ownership by dematerializing it empowers everyone to co-own
high-quality residential as well as commercial real estate managed by professionals,鈥� added Rao.
Global equities and bonds are currently valued at $170 trillion, while the value of the real estate
sector is $230 trillion.
The world's first digital real estate market, ALT DRX, was introduced by Bengaluru-based fintech
startup ALT Realtech. It enables investors to purchase one square foot of real estate at a time. The
business, which plans to operate in India first, has secured $1.6 million in equity and $2 million in
callable mezzanine debt as part of its seed round for co-investing in real estate assets.
One of India's leading legal firms, well-known family offices, prominent startup founders, and senior
executives from MNCs all participated in ALT DRX's seed round as investors. According to Anand
Narayanan, Founder, ALT Realtech, 鈥淎LT DRX expects the new platform to solve the problem of
illiquidity in mid-size real estate assets and possibly open the gates for capital to move into socially
relevant, rent-yielding real estate assets such as rental housing, hostels, care homes, holiday homes,
schools, industrial warehousing, high-street retail, hotels, and managed offices.鈥�
Owners of these real estate assets will be able to convert their real estate ownership into tokenized,
traceable digital assets thanks to ALT DRX. 鈥淥ur platform will help, say, a 50,000-square-foot
building to be tokenized into 50,000 tradeable digital assets, each holding an economic value
proportionate to 1 square foot of the said property,鈥� he said.
The pre-qualified, KYC-compliant registered customers on its platform can then instantly buy, hold,
trade, and settle these tradeable digital assets. Avinash Rao, Founder, ALT Realtech said, 鈥淭he
platform uses a permissioned, centrally managed blockchain-based ledger protocol that restricts the
transfer of these digital assets to foreigners while attempting to build user credibility by using Zero
Trust Architecture.
鈥淭he democratisation of real estate ownership by dematerializing it empowers everyone to co-own
high-quality residential as well as commercial real estate managed by professionals,鈥� added Rao.
Global equities and bonds are currently valued at $170 trillion, while the value of the real estate
sector is $230 trillion.
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