Krypto Stone wants to split real estate with NFTs

Published on Sep 16, 2022 at 9:19 am

Created in Metz last February, Krypto Stone is betting on bringing together real estate investors and cryptocurrency enthusiasts. The blockchain, which guarantees the inviolability and traceability of transactions, and NFTs, cryptographic tokens acting as real estate title deeds, could initiate a new model of property for which the city of Metz would be the laboratory.

“The regulator expects serious projects from experienced entrepreneurs. We hope that it will rely on our initiative to define good practices in France and in Europe”, indicates Laurent Mayer, managing director of Krypto Stone, who is in discussion with the Autorité des marchés financiers (AMF) to obtain a approval.

The start-up promises to open the investment to all, “from 50 euros”, the co-owners sharing the dividends in proportion to the capital contributed.

Notaries and the blockchain

The role of notaries, traditional guarantors of property ownership, remains to be clarified. “Notaries already centralize transactions but they do not yet have the blockchain. Our model gives the possibility of registering the acquisition with the notary. The purchase of shares will be done via our NFTs registered on the blockchain, which will then be freely transferable,” explains Gary Florimont, partner at Krypto Stone.

Last July, the Mayer family, whose property has been established in Metz for four decades, announced that it had invested 10 million euros in 10,000 meters2 premises located in Metz, elsewhere in France and in neighboring countries, to initiate the digital real estate investment mechanism.

Wastelands to renovate

But several questions still remain unanswered before being able to open, perhaps by the end of the year, the “virtual account book” in which any investor could record title deeds.

Since the Krypto Stone marketplace is not yet ready, the mystery hangs over the nature of the goods that will be offered there. The company evokes a panel distributed in France and abroad, essentially made up of real estate wastelands to be rehabilitated.

In Moselle, the Mayer family has demonstrated its know-how in this area by transforming the 4,500 square meters of the former management of Muller Frères in Boulay into a business hotel or the Rotonde de Montigny-lès-Metz into a leisure park. .

The start-up also mentions new tertiary premises or those to be built. The funds contributed by the investors will be partly injected into the renovation or the works, the balance being placed to improve the yield.

Krypto Stone not only promises visibility on the real estate project and the use of funds, but also the establishment of collegial governance allowing each “co-owner” to express their opinion on the management of their property.

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Krypto Stone wants to split real estate with NFTs

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