Ethereum's High Gas Fees Affecting Real Estate Transactions - AQRE Makes a Pivot
ATLANTA, August 26, 2021 (Newswire.com) - AQRE, a Canadian firm made famous by the AQRE App and its technology-first approach to real estate, has announced that it is shifting its focus to building a new real estate platform, AQRE Home, launched in August 2021. This decision was made after months of Ethereum gas fee increases caused a delay in re-launching the company's flagship product, the AQRE App. The company believes that this shift will be beneficial in the long run as it allows time for market correction, provides Chelle Coin holders additional investment opportunities, and begins a new phase of growth with new product offerings.
The team at AQRE is a group of technology enthusiasts who saw a need for digital currencies within the real estate industry. When the company launched their initial Chelle Coin token offering in November 2018 and set up its investment app to pay dividends in ETH, the market conditions were far more optimal for such an endeavor. Two years later, high gas fees and a volatile cryptocurrency environment have made this shift in focus necessary. The move to a new platform does not represent a major shift in AQRE's overall strategy, but a natural evolution.
"Based on Ethereum news updates, we believe that gas fees will eventually return to manageable levels," said CEO Ronice Harrison, "but for now the high transaction costs have resulted in a significant change of plans. With AQRE Home, we have built a new real estate product that doesn't rely on Ethereum, without switching our focus away from our values of transparency, accessibility, or decentralization within real estate."
The new product, AQRE Home, is just the latest to join the AQRE ecosystem, consisting of AQRE App, AQRE Lending and Chelle Coin. Unlike the fractional real estate investing at the core of AQRE App, AQRE Home gives Chelle Coin holders a new platform for buying, selling, and renting real estate using their tokens, dollars (USD), or bitcoins.
For real estate professionals and homeowners alike, the AQRE Home platform also makes it possible to manage all aspects of leasing or selling or buying properties from one location.
"We always believe in providing as much value as possible to our users," Harrison added. "That's why we are continuing to innovate the real estate space with a new line of products, starting with AQRE Home."
The team at AQRE hopes the new platform will give users a way to stay connected with the company while waiting for market corrections, as well as provide the additional time needed to ensure a smooth re-launch of the AQRE App.
To learn more about AQRE's updated line of products, stay up-to-date with the company's latest developments, check out the company's blog at www.aqrehome.com/blog/.
Chief Executive Officer, AQRE Home
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Source: AQRE Technologies