Krypto Stone wants to divide the real estate sector with NFTs

Posted September 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 the NFTs, cryptographic tokens that act as deeds of real estate, could initiate a new ownership model of which the city of Metz would be the laboratory.

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

The start-up promises to open the investment to everyone, “starting from 50 euros”, the co-owners will share the dividends in proportion to the capital contributed.

Notaries and blockchain

The role of notaries, the traditional guarantors of real estate property, remains to be clarified. “Notaries already centralize transactions but don’t have the blockchain yet. Our model gives the possibility to register the acquisition with the notary. The purchase of the shares will take place through our NFTs registered on the blockchain, which will then be freely transferable “, explains Gary Florimont, partner of Krypto Stone.

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

Wastelands to be restored

But several questions still remain unanswered before we can open, perhaps by the end of the year, the “virtual book” in which any investor could register property titles.

Since the Krypto Stone market is not yet ready, the mystery hovers over the nature of the goods that will be offered to you. The company evokes a panel distributed in France and abroad, essentially consisting of desolate real estate land to be restored.

In Moselle, the Mayer family demonstrated their know-how in this sector 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 an amusement park. .

The start-up also mentions new tertiary premises or to be built. The funds contributed by the investors will be partly injected into the renovation or 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 a collegial governance that allows each “co-owner” to express their opinion on the management of their property.

> Fundraising, decryption, key figures … To not miss any news from French Tech and start-ups, subscribe to our newsletter> Subscribe

Leave a Comment