HomeNewsVeChain-Powered Magma Taps into Billion-Dollar Market with Eco-Friendly Real Estate Solutions

VeChain-Powered Magma Taps into Billion-Dollar Market with Eco-Friendly Real Estate Solutions

- Advertisement -
  • Magma utilizes VeChain blockchain for eco-friendly real estate solutions, reducing energy consumption and CO2 emission.
  • Magma’s Digital Twin Tokens enable reusing, repurposing, recycling, and reselling building elements, with energy performance Smart Contracts and rewards for extra financial reporting.

Real estate is known for its high energy consumption and significant contribution to CO2 emissions. Magma, a proptech company, aims to harness the power of Web3 technologies to create more sustainable and eco-friendly solutions in the real estate sector. By choosing VeChain for its Digital Twin Tokens, Magma leverages the Proof of Authority consensus, which requires significantly lower gas fees and promotes environmentally responsible blockchain solutions.

Magma’s Digital Twin Tokens enable the reusing, repurposing, recycling, and reselling of building elements, reducing waste and the overall ecological impact of real estate. Additionally, Magma allows the creation of energy performance Smart Contracts, which further support sustainable practices in the industry.

The platform also offers a reward mechanism for extra financial reporting, such as ESG, energy performance, and operating maintenance, incentivizing transparency and sustainable practices. By utilizing a digital model as a trustworthy common referential, Magma aims to reduce the carbon footprint and operating costs associated with real estate.

As sustainability-focused companies continue to turn to VeChain for building real-world solutions, the blockchain protocol is expanding its offerings with VORJ, cross-chain bridges, EVM tools, and other innovative products. This allows developers from across the Web3 space to access VeChain’s powerful and agile technologies for building a world of interoperable decentralized applications (DApps), ultimately driving the future of blockchain technology.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628