Dogecoin Can Now Be Used To Purchase Second Home Ownership Shares.

Dogecoin Can Now Be Used To Purchase Second Home Ownership Shares.

2021-10-27 | Eddy Morgan

Dogecoin Can Now Be Used To Purchase Second Home Ownership Shares.

Pacaso, a San Francisco-based firm, has announced that crypto, including Dogecoin (DOGE), may now be used to purchase shares in single-family houses in some of the country's most popular second-home locations. Pacaso, which was launched in October 2020 by Zillow Group Inc. co-founder Spencer Rascoff and Dotloop founder Austin Allison, achieved "unicorn" status (i.e., a valuation of more than $1 billion) "faster than any other U.S. startup," according to Bloomberg. Within an interview with Bloomberg, Pacaso CEO Austin Allison said: "Prior to the epidemic, second-home ownership was already a fantasy for many families, but with Covid-19 changing the way people work and live, that interest has only grown." According to the Bloomberg story, Pacaso buys single-family homes in the United States and then sells ownership shares in them (the minimum investment is "a one-eighth slice of the property"). Owners of a property may schedule stays at any time of year (the number of weeks they can stay is determined by "the size of their ownership"), and Pacaso ensures that the owners' things are "swapped out upon arrival and departure." Pacaso secured $75 million in March from Greycroft Partners, Global Founders Capital, Acrew Diversify Capital Fund, First American Financial Corp., and Shea Ventures in an investment round. Amy Weaver, president and CFO of Salesforce.com Inc.; Jeff Wilke, former CEO of Amazon Worldwide Consumer; Elie Seidman, former Tinder CEO; and Dollar Shave Club founder Michael Dubin were among the angel investors who participated. Here's an example of a property on Pacaso that's now for sale: One share in this four-bedroom Californian property costs $1,263,000, as you can see. "We construct a property LLC for each home, identify and screen co-owners, and manage all the sales procedures," Pacaso says of what he does to help purchasers acquire a home. The co-owners will have 100 percent ownership of the residence after the closure, with Pacaso holding no shares." And here's how it makes it easier for them to appreciate their second homes: "We'll take care of the furniture, maintenance, utilities, and property management; all you have to do is show up and unwind." With our app and SmartStayTM technology, scheduling is simple and fair.“ Pacaso stated on October 20 that it will "start taking cryptocurrencies as a payment option for ownership shares in second residences provided through its website," according to a news release. Aspiring co-owners would be able to pay for their second residences using Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Wrapped Bitcoin (WBTC), and a variety of other cryptocurrencies, including five USD-pegged stablecoins, in an industry first.”

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