Company
Date Published
Author
Harry Papacharissiou
Word count
1485
Language
English
Hacker News points
None

Summary

Chainlink oracles are being used by smart contract developers to bring real estate valuations on-chain, thereby facilitating the creation of new Decentralized Finance (DeFi) products and markets in the real estate sector. By integrating high-quality data from premium providers like SmartZip, which offers residential real estate valuations, and ProspectNow, which supplies average price per square foot data, developers can generate multi-source valuations to price tokenized or synthetic real estate assets. This approach allows for innovative applications such as using real estate as collateral, enabling prediction markets, or supporting decentralized ETFs, while leveraging Chainlink's infrastructure to ensure reliable data provisioning. The process involves contract setup, data requests, and fulfillment for both SmartZip and ProspectNow, ultimately allowing developers to execute smart contract events and logic based on comprehensive real estate data.