The meteoric rise of crypto coins has unshackled blockchain tech and opened up new investment opportunities including assets available in the form of digital tokens. So far artists, musicians, meme makers and even social media hashtag creators have been able to promote their work by converting it into virtual tokens, which can be traded online on a global scale.

The blockchain boom has seen music albums being launched as non-fungible tokens, and even tweets being auctioned as digital property. With a vision to capitalise on the digital cash flow, a Dubai-based property firm is inviting netizens and residents alike to invest in its projects by converting real estate into crypto tokens.

By registering housing on the blockchain in collaboration with a Slovenian partner, the Emirati firm Arms & McGregor seeks to raise funds by selling parts of assets to online bidders. This system also works in favour of residents, who can reduce their rent by gaining virtual ownership over a part of the house.

People can also lend or swap their tokens by pledging another token, and can also exchange the ownership certificates for crypto cash. But the offering by Arms & McGregor isn't the only tokenisation scheme related to Dubai's attractive real estate market, since a platform Smart Crowd has also been facilitating online investments for property developers in the city.

Among these Lootah is using the portal to let users own a part of its real estate projects for as low as AED5000.

Keeping the focus on cryptocurrencies, another Emirati firm Samana is hoping to attract international investment by accepting Dogecoin in exchange for a stake in its properties. The real estate company is also offering a 5% discount to anyone who invests using the much talked about crypto coin.

Eyeing a recovery of the real estate market after it reopens in the post-pandemic era, Dubai is banking on a digital revolution with apps that suggest accurate property prices to sellers, and platforms which are now buckling up to ride the crypto wave.