Parcl Floats Crypto Derivatives on Real Estate Values

Earlier in May, proptech company Parcl announced a $7.5 million funding round. Taking part in the funding were current investors Archetype, Dragonfly Capital, Shima Capital, Solana Ventures, Not Boring Capital, and FJ Labs. New investors included Fifth Wall, JAWS, the family office of Barry Sternlicht, IA Capital & Eberg Capital, Big Brain Holdings, and angel Santiago Santos.

Significant cash. Parcl, not to be confused with the former similarly named e-commerce company, touts itself as “a digital real estate protocol built on Solana, a blockchain specifically designed to host decentralized and scalable applications,” that “allows users to invest in and trade-specific geographical markets” and which “requires no minimum investment, offers immediate liquidity, and carries low transaction fees,” according to information sent to GlobeSt.com by its PR firm.