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Equisafe completes first European property sale on the blockchain

Equisafe, a French blockchain investment platform, recently sold the AnnA Villa luxury building in Paris for $7.37 million via a blockchain transaction. The company transferred ownership of the building to a joining stock company then divided the company into 100 tokens to be distributed to French real estate companies Sapeb Immobilier and Valorcim, according to a report by Forbes.

Each token can also be broken down into 100,000 units, which would allow the real estate companies to sell shares of the building for a minimum of $7.38. The entire process was powered on the Ethereum blockchain.