One of Cardano’s (ADA) new-gen projects is Chaincrib, a novel real-world asset platform launching on the second largest PoS blockchain in a few months. Chaincrib operates as Cardano’s counterpart to Lofty AI, a mainstream Algorand RWA protocol.
Is 2024 the Year of RWAs on Cardano?
The DeFi scene on Cardano is gradually heating up, with the total Cardano TVL surpassing $300 million. This increase is the result of innovative projects launching and deploying on Cardano.
Tokenized real-world assets (RWAs) are becoming a hot topic on Cardano, with only a few RWAs currently existing or in active development. Lofty.ai, a popular Fractional Real Estate Marketplace on Algorand, boasts over $30 million in TVL. Chaincrib is expected to be its direct competitor but on the Cardano (ADA) platform .
It is noted that Cardano is both faster and cheaper compared to alternative smart contract platforms.
CardanoCube platform welcomes Chaincrib
CardanoCube, an ecosystem repository of Cardano projects, made a post on X, introducing Chaincrib and highlighting the features and unique value proposition that Chaincrib offers to the Cardano blockchain and to real estate investors in general.
Just stumbled upon @chaincrib.
They are unlocking a world of opportunities through Fractional Tokenized Ownership of RWA (Real World Assets), all powered by Cardano NFTs.
— Cardano Cube (@CardanoCube) January 5, 2024
Chaincrib is a tokenized real estate marketplace where ownership of rental real estate properties will be represented as Cardano NFTs.
This approach will simplify buying and owning a piece of rental real estate property, making real estate investment easy and accessible to anyone.
One of first RWA projects on Cardano?
Chaincrib is planning to launch its MVP within the next quarter as users will be able to own a piece of rental income-generating real estate assets in the form of NFTs. They can choose to sell, stake, borrow, lend and more using their NFTs in what is referred to as “truly decentralized.”
Chaincrib’s team took to X (formerly Twitter) to share a preview of how the platform will look upon launch.
For those interested in learning more about Chaincrib and its potential competition with Lofty.AI, the team released a detailed introductory post.
To stay tuned for latest developments, crypto enthusiasts can follow Chaincrib on Twitter/X, join the Telegram group and follow the project on Medium.