Real estate giant Jamestown will begin accepting cryptocurrencies as means of payment, including meme coins Shiba Inu and Dogecoin, according to Rew-Online. In 2021, Jamestown also partnered with Barry Silbert's Digital Currency Group to collaborate in the Metaverse space.
Rew-Online reports that Jamestown has signed a partnership agreement with BitPay, accepting cryptocurrency payments. This will allow the company to accept rentals in crypto on US-based real estate properties while also considering expansion into Europe. Thanks to this collaboration, crypto payments are now included in one of the leading programs in commercial real estate.
Jamestown President Michael Phillips stated in an interview that crypto will be a big part of the company's plans to implement innovation through technology and virtual integration. SHIB payments were also being accepted by a real estate company in the town of Santa Clara del Mar, near Buenos Aires, Argentina.
Jamestown will accept crypto payments in the US and allow tenants to use approximately 26 million square feet of commercial real estate. These locations include Levi's Plaza in San Francisco, City Market in Atlanta, and Ballston Exchange in Arlington.
Alongside rent payments, Jamestown is considering launching deposit programs that will allow its employees to receive their salaries partially in cryptocurrencies. Last year, the company partnered with Digital Currency Group, led by billionaire Barry Silbert, to add One Times Square to the Decentraland Metaverse.
UAE real estate giant begins accepting cryptocurrencies
Dubai-based giant real estate company Damac Properties, which is affiliated with the United Arab Emirates, has decided to accept Bitcoin and Ethereum in real estate sales.
In a statement made by Damac Properties, it was stated that the Dubai-based company is adopting cryptocurrencies to keep up with the digital transformation project. Accordingly, the company has added the two largest crypto assets of the market, Bitcoin and Ethereum, as payment options.
Damac Properties, which started its activities in 2002, continues its activities in many countries, especially in Qatar, Saudi Arabia, Oman and England, apart from Dubai. The company's profit last year was announced as 816.8 million dollars.
Apart from accepting cryptocurrencies in sales transactions, the company has investment plans within the Metaverse realm, which is closely linked to the crypto industry. Aiming to build virtual cities with the new Metaverse project, Damac stated that a fund of about 100 million dollars has been allocated for this.