Manager of institutional digital assets, Morgan Creek Digital has been backed up by a $3.1 million seed round for their tokenized real-estate startup RealBlocks.
On Friday, this news was announced and RealBlocks said that the funding round was being led by early-stage investment firm Science Inc., whereas other investors included Zelkova Ventures, Ulu Ventures, and Cross Culture Ventures.
RealBlocks founder and CEO Perrin Quarshie explained during the announcement that the investment will help the firm quicken the development of their platform.
RealBlocks is an Ethereum-based real estate platform which allows firms to raise capital with the help of their tokenized securities, but investors can also directly purchase real estate with the help of both cryptos as well as fiat currency. The platform also provides investors with access to offerings from private equity funds globally that use fiat or cryptocurrencies.
Morgan Creek Digital founder and partner Anthony Pompliano said that the primary reason behind the firm investing in RealBlocks was that their core belief was “every stock, bond, currency, and commodity would be tokenized at some point in the future.”
Science Inc’s co-founder and managing director Greg Gilman agreed to the above-said statement and added- “The real estate market, like any other asset class, will be “increasingly data-driven and digitized” in the near future.“
Last month, Morgan Creek Digital participated in a $4 million investment round of BlockFi, which is a startup that offers U.S. dollar loans against the crypto collateral.