Zug, Switzerland-May 9, 2024 - Xcavate, a platform building a trustless and permissionless global Web3 future for real estate, has partnered with Acurast for business critical real world asset data.
Xcavate will integrate Acurast’s decentralized Cloud as part of this strategic partnership to gain the ability to bring verifiable off-chain data to the Xcavate protocol. This collaboration will enhance Xcavate's capability and flexibility to tap into real-world data for its real estate tokenization market.
With the increasing demand for more use cases in Web3, the potential for real estate in the Web3 industry is significant. The global Web 3.0 market reached USD 2.25 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 49.3% from 2024 to 2030. The Web3-based real estate tokenization market, a key segment of this industry, is forecasted to reach $18.2 billion by 2032, indicating a substantial opportunity for growth and innovation.
Oracles play a pivotal role in Web3 real estate tokenization, making real estate transactions more accessible, safer, and transparent for all parties involved. These Oracles provide real-time market data, such as property prices and rental rates, ensuring accurate property valuation. Their significance in tokenizing real estate assets in Web3 cannot be overstated, as they streamline processes and enhance security.
Acurast provides with its decentralized Cloud DePIN based on mobile phones, where anyone can become a compute provider, a robust and confidential layer of compute, allowing Xcavate to build their tailored apps and profit from the confidentiality, security and decentralization they need for such this critical component of their platform.
Richard Houldsworth, Co-founder of Xcavate:
“Acurast’s unique network of Decentralized mobile compute is a great fit for Xcavate’s off-chain real-world data processing needs”
Alessandro DeCarli, Co-founder of Acurast:
“It’s great to be able to support Xcavate’s endevaour in pushing the boundaries in the global real estate market with a critical component leveraging Acurast’s decentralized Cloud.”
About Xcavate
By aligning the interests of the small — to medium-sized real estate developer, the investor, and the tenant, we can restore value and control to the hands of the stakeholders.
By leveraging the power and interoperability of blockchain technology, digital identity, self-executing code (smart contracts), tokenization, and Oracles, the Xcavate Protocol introduces transparency, security, accessibility, and sustainability to the real estate market.
For more information, visit Xcavate and follow on Twitter for updates.
About Acurast
Acurast is a unique serverless, decentralized cloud computing platform. It allows anyone to become part of the cloud with their mobile phone, whether new, used, or even with a smashed screen, by providing compute power and earning rewards.
Acurast gives developers complete permissionless access to compute that is trustless, affordable, and confidential for deploying their applications, setting it apart from traditional cloud computing platforms.
For more information, visit Acurast, follow on X for updates, and join the community on Discord or Telegram.
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