Dear Balcony Community,
First and foremost Happy Holidays and Happy New Year to our family! As we bid farewell to 2023, I'd like to share our journey's highlights and the exciting path we're paving for 2024.
Reflecting on 2023:
This year was one of stealthy innovation and strategic growth. We kept a low profile, not for lack of achievement but to shield our breakthroughs from prying eyes. Our focus was crystal clear: innovate without distraction and leverage the bear market to solidify our foundations.
- Advanced Real Estate Tokenization: We've engineered a backend RE tokenization engine and a specialized subnet on the Avalanche Network. This is just the beginning; our vision extends to enhancing the frontend and middleware for seamless operation.
- On-Chain Title Transfer: A significant leap was our $4.2M property transaction in Jersey City, settled on our test network with instant on-chain ownership recording. It took nearly 2 months for the actual tax records to reflect new ownership, demonstrating the power of automation we can provide. This is the future of real estate, and we're leading the charge.
- Strategic Reorganization: Balcony Technology Group, Inc. is our new beacon. Our pivot towards working with governments for blockchain-based property records is not just a change but a revolution in how real estate is perceived and managed. Importantly we dropped the DAO from our name as we move focus away from fractional ownership and towards tokenization infrastructure with Government adoption and validation. It is our goal to still launch a DAO(s) in the future revolving around democratized ownership in investment properties.
- Capital Milestone: We finalized our friend and family pre-seed round raising $1,350,000 at a $10M value cap. The round was closed by a large web3 Venture Capitalist who will be announced officially in January.This is just the start of our financial journey.
- Government Collaborations: We've been actively engaging with government officials, from US Senators to local municipal and city officials, gaining momentum and support. Our commitment is to make real estate more accessible, transparent, and efficient through technology.
Looking Forward to 2024:
The coming year is about expansion, noise, and making our mark. We're set to onboard numerous governments, launch our working product, and continue our fundraising momentum. Balcony is not just a company; it's a movement set to redefine real estate tokenization.
As we step into 2024, I am confident that we will achieve unprecedented milestones and reinforce our commitment to innovation and community.
Thank you for being part of our journey. Here's to a groundbreaking 2024!
With heartfelt thanks,
CEO, Balcony Technology Group