ProsperiProp introduces asset-backed crypto tokens

Llew Morkel, CEO and founder of ProsperiProp

“Ultimately,” explains Llew Morkel, the CEO and founder of ProsperiProp, “the idea for this concept was born out of a personal desire to share the overall cost of a property across different people (investors). Property costs are prohibitive and so I developed this business model to simply spread the costs, and it associated wealth, across multiple individuals.”

In the blockchain environment, this is interpreted as a virtual token, which represents a fraction of the respective property value. Blockchain technology makes it possible to design financial products for anyone, irrespective of their social standing or financial means.

Two-token model

ProsperiProp offers two types of tokens to the global market. One is currently being sold to investors to crowdfund a debt-free pool of capital. Once enough finance has been raised, property assets will be bought, and the other token will be sold to people who want to buy a share in those assets.

Llew clarifies, “Our two-token model, a world first, can be applied to any number of financial products globally, but property investment is an obvious first choice. An estimated 200-million people worldwide are now able to invest in the​ ​top​ ​performing​ ​property​ ​investment​ ​portfolios."

The startup is a gold member of Alphacode, a fintech incubator funded by Rand Merchant Investments, a subsidiary of Rand Merchant Bank.

“Blockchain and cryptocurrencies have an important role to play in wealth creation and have the ability to level the playing field. ProsperiProp is proud to be market leader and driving force in achieving this,” concludes Morkel.