Overview

The solution that Briky Land provides is based on the breakthrough of NFT on blockchain, specifically the ERC-1155 standard. Real estate joining the Briky Land ecosystem will be tokenized and fractionalized into a set of unique on-chain tokens inside an NFT collection called Native Land, with an initial price that is no greater than 100 USD. Each token can be traded freely in a decentralized manner through any NFT marketplace, which also means investors can approach the estate partially with a smaller price than the whole asset value. Thanks to the advantage of blockchain and smart contracts, token holders can buy and sell their possessions freely, globally, transparently and anonymously through various crypto-currencies.

Following the simplification of the trading procedure compared to traditional methods, Briky Land is willing to reduce the broker fee down to 20% of the ordinary cost on the traditional market.

Asset fractionalization yields the fact that the ownership of real estate is shared between multiple token holders. Therefore, Briky Land also provides a voting mechanism for all holders can cooperate in managing and exploiting the value of their shared real estate. Managing here includes extracting the asset from the Briky Land ecosystem.

In order to fundraise for the project and establish the intrinsic value within the ecosystem which can grow together with its expansion, Briky Land will launch an ERC-20 currency named BRIK, with well-defined tokenomics and liquidation mechanism, together with a derivative token named BRIKI, evolving from staked BRIK. Briky Land incentivizes trading real estate with these two tokens by reducing the intermediary cost even more.