RealT, the tokenized real estate platform in the USA, reached all-time highs in sales and new users afterwards just accepts crypto transactions after the PayPal payment platform was banned in April.
Startup based in Ethereum marks and sells real estate in the United StatesIt allows users worldwide to share ownership of their properties for just $ 50.
According to the report by Twitter from RealT, 62% of the purchases on the platform were made via PayPal before the ban. In the course of a year There were over 800,000 PayPal transactions, of which consumers only raised 8 disputes worth $ 600 or 0.075% of the total.
However At the beginning of April, customers of the platform reported problems with PayPal transactions. A few weeks later, Paypal sent him a letter informing the company that it had been banned “because of excessive risk” and that “the decision would not be appealed”..
Blessings in disguise
The team decided to answer the question: Can a company survive only with cryptocurrencies?
This unfortunate event resulted in an extremely valuable experiment for us that really changed the company’s morale during an otherwise critical event.
We had to do the experiment “Can a company survive only with cryptocurrencies?” Carry out.
– RealT (@RealTPlatform) May 5, 2020
Within a week of switching pure cryptocurrency, orders through payment provider Coinbase Commerce rose nearly 240% thanks to the popularity of its sixth token propertywho contributed shares of $ 51 worth $ 203,333 each.
According to RealT It was the company’s best sales week. 100% of sales were generated as cryptocurrencies. The RealT blog claimed it was “the fastest property sold on Ethereum”:
“It’s still better to have more paying merchants. The fact that RealT has been able to break new records in both sales and registration of new users using ONLY cryptocurrency as a payment method is insanely optimistic for the crypto space overall.”
Crypto payments are better than PayPal payments
Paypal has a long history of arbitrarily reducing services and customers. In 2018, users received emails warning them that cryptocurrencies were “prohibited under the Acceptable Use Policy”. In 2019, Paypal banned payments to Pornhub (again due to the guidelines) and forced them to turn to cryptocurrencies to pay for their models. The company joined Facebook’s Libra project to give it up later.