A Ukrainian company opened real estate sales in cryptocurrency
The Ukrainian development company DIM announced that it is starting to accept cryptocurrencies as the payment method for real estate purchased from them. DIM calls it a precedent for the Ukrainian market.
The virtual assets law has regulated cryptocurrencies in Ukraine since March 16, 2022. But, due to the military aggression of Russia and the vast number of refugees, the real estate market sank significantly, and we really did not hear anything about official purchase and sale deals made using digital money.
DIM is ready to sell its real estate for SDC, USDT, BUSD, and DAI stablecoins and promises to expand this list gradually. There are also ambitious plans to implement Web 3.0 technologies, with the registration of transactions on the blockchain platform, replacing paper contracts with smart contracts, and guaranteeing property rights using non-fungible tokens (NFTs).
For now, future DIM clients can choose from six specific properties in Kyiv and the Kyiv region. The proposals include a skyscraper, apartments in comfort-class houses, and a country complex.
Obviously, many developers will have to start taking risks associated with the volatility of cryptocurrencies and the “bear market”. This may be due not only to the commitment to modern technologies and faith in a better crypto future but also to an adequate perception of the new reality.
The capitalization of many families in Ukraine was limited precisely by their properties, which turned out to be abandoned, destroyed, damaged, or lost their value due to their location in the places of hostilities. Falling prices were observed even in the capital of Ukraine because of the constant risks of missile strikes.
Fiat savings of Ukrainians have decreased due to significant inflation. At the same time, cryptocurrencies, on the contrary, have become the basis for the formation of new capital in the country: the cost of several tokens exceeds the previously made investments by tens of times, and today their owners may be interested in being able to exchange “crypto” for a house or apartment without involving the exchange services.