MetaWealth’s $1.5M Digital Funding for Athens Real Estate

MetaWealth seeks to raise $1.5M in Greece through digital currency to develop a residential building, utilizing blockchain for secure financing.

MetaWealth's $1.5M Digital Funding for Athens Real Estate

In a groundbreaking move that could redefine the landscape of real estate financing in Greece, the tech company MetaWealth is poised to raise an impressive $1.5 million through the issuance of digital currency. This initiative marks a significant milestone as it represents the inaugural foray into the realm of blockchain-based property development financing within the Hellenic Republic. The company’s innovative platform is designed to facilitate the procurement of funds on behalf of third parties, leveraging the transformative technology of decentralized blockchain transactions.

The first project to be featured on this pioneering platform is Urban City 44, a burgeoning complex comprising 210 residential units located at the strategically significant 44 Pireos Street. Developed by Astrea International Properties, this ambitious venture has already witnessed a substantial portion of its units being sold, underscoring the robust demand for urban living spaces in central Athens.

MetaWealth is seeking to amass a total of $1.475 million specifically for the acquisition of 12 apartments. This will be achieved through the issuance of 14,753 exchangeable tokens, which are intricately linked to “smart contracts.” These sophisticated code programs are designed to autonomously activate and execute transactions upon the fulfillment of predetermined conditions, thereby enhancing the efficiency and security of the investment process.

Investors in the Urban City 44 project can anticipate a compelling return on investment, with projections indicating a 31% yield over an 18-month period, translating to an annualized return of approximately 20.67%. However, potential investors should be mindful that the token offering period is set to conclude on December 16, creating a sense of urgency for those eager to partake in this innovative investment opportunity.

MetaWealth's foray into the Greek real estate market through blockchain technology not only exemplifies the convergence of finance and technology but also heralds a new era of investment accessibility, allowing individuals to engage in real estate ventures with a minimum investment of just $100. As this initiative unfolds, it will undoubtedly be fascinating to observe its impact on the broader economic landscape and the evolution of property development in Greece.