Thread by @cyrilXBT

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I spent my day researching BonfireDAO.

This is where real estate investment meets #blockchain.

Very interesting concept 👇

#Matic #BonfireDAO @BonfireDAO

BonfireDAO was created to help average investors accumulate wealth for generations to come.

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An entire generation is at financial risk due to global recessions, a pandemic, political turmoil, record inflation, student loan fraud, and a housing affordability crisis.

A lot of people are unable to make meaningful savings and investments.

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Even if you can save for a down payment on a house, you will still face competition from private equity groups snatching up all the available inventory, driving up prices, and driving consumers off the market.

The deck is stacked against the average Joe.

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The private equity firms are supported by "accredited investors" and have a legion of lawyers on the payroll, while we only have each other.

@BonfireDAO, a tokenized real estate protocol built on @0xpolygon, and built by a team of experienced professionals in the real estate and the web3 space using blockchain to democratize real estate investing.

Bonfire believes that everybody should be able to purchase a portion of real estate, with everything being controlled by a decentralized autonomous organization (DAO)

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Why Real Estate

Though profitable, investing in real estate requires a significant commitment of capital and a rather expensive and lengthy transactional process, making it only available to so-called ‘accredited investors.’

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The BonfireDAO solution

Bonfire is a marketplace that splits income-producing real estate into fractions anyone can purchase.

In short, imagine being able to purchase just a fraction of an actual real estate property instead of the whole and still have a say in how it’s being run.

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Bonfire divides real estate assets into manageable, tradeable "tokens" with blockchain technology, making them available for anyone to buy.

Owning even one token means owning a fraction of the building.

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Imagine you want to buy a duplex for $500,000 as an investment property but lack the down payment.

And how would you handle it if it were in a different city?

BonfireDAO solution, for example, tokenizes the duplex into 10,000 tokens at $50 each. One token would represent a share of the $500,000 duplex.

You could buy 100 tokens for $5,000, giving you 1% asset ownership.

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You receive 1% of the rent, potential appreciation, and any tax advantages related to real estate ownership.

Bonfire finds assets that generate income from real estate and verify them to make sure:

• The title is clean, and property taxes have been paid

• The property is well inspected

• tenant and property manager are in place

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After confirming that the asset is in great condition, Bonfire separates it into tokens and lists it on their marketplace.

Listing on the Bonfire marketplace means:

• Visitors explore the platform's accessible assets

• Buy asset tokens using their bank accounts or popular cryptocurrencies such as BTC, ETH, etc

• Funds are transferred from a third-party escrow account to the asset's seller once the sale is complete and the DAO LLC is recorded on the title.

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Owners are automatically moved to a DAO after the sale, where they can submit proposals, vote on proposals, and select the best course of action for managing a certain asset.

@BonfireDAO’s MVP marketplace is launching tomorrow, and there is a property ready to go on sale. This is your chance to own a property without breaking the bank.

Follow @BonfireDAO right now to get more information on the launch 👇

https://twitter.com/BonfireDAO/status/1579154847198195712?s=20&t=GvRsPv3aQivTtcMdKlQN3w