Prix de Onooks (OOKS)

Onooks (OOKS) is a platform that advocates for the creation of an integrated and interoperable open finance and monetary protocol matrix. This matrix would serve as a unified liquidity pool and back-end infrastructure for decentralized finance (DeFi) and open finance applications. OOKS aims to bring together a community of people who are dissatisfied with the fact that real estate is an asset class reserved for the wealthy. The goal of OOKS is to disrupt traditional financial structures and create a more inclusive system that benefits a wider range of individuals.

OOKS believes that blockchain technology has the potential to revolutionize the real estate industry. By using blockchain, assets that were previously reserved for traditional investing can be tokenized, making it easier to buy and sell real estate or fractions of it. Additionally, the use of blockchain automates the process, reducing intermediary costs and ensuring global access to assets. An example of this potential is the sale of a house on the Ethereum blockchain in 2017.

In 2017, TechCrunch’s founder Michael Arrington paid roughly $60,000 to a company called Propy in the cryptocurrency Ethereum to buy a house near the Dnieper River. When the Wall Street Journal reported on the story, their headline reflected the sense of awe they felt towards what had just happened. A house was sold entirely online, and the payment was made in a cryptocurrency (Ether). This was just the beginning of the potential for a connection between real estate and cryptocurrencies, something that traditional investors have been skeptical about.

Devon Bernard, a successful tech entrepreneur from California, bought the same property from the Delaware-based LLC (through which Arrington originally bought the property) a few weeks ago in a first real estate NFT auction for 36 ETH (approx. $93,000). Propy has been leading the blockchain revolution by opening doors to this connection between real estate and cryptocurrencies, and OOKS aims to continue and expand on this work.