What is MyBricks?

MyBricks ($BRICKS) is a cryptocurrency project that strives to make property allocation more accessible. Launched on 23rd July by a team of 15 business owners, property developers, and tech entrepreneurs based in the UK, MyBricks strives to provide potential returns for users. The project allows individuals to allocate their $BRICKS into diversified property funds that generate monthly rental yield. This yield is then distributed back into the user's wallet via smart contracts. Each fund also provides perks for users, such as low-cost rental on premium accommodation and discounts on home improvement services.

How does MyBricks work?

MyBricks operates on a model that combines property allocation with blockchain technology. Users can acquire $BRICKS and allocate them into diversified property funds. These funds generate monthly rental yield, which is then distributed back into the user's wallet via smart contracts. The project employs a "Rent 2 Rent" strategy, where properties are leased from owners and then sublet to tenants at a higher rate, generating a profit. The earned income is typically allocated to lease more properties and shared proportionally among users in the portfolio, facilitating portfolio growth without the need for property purchases.

What are the potential use cases for MyBricks?

The primary use case for MyBricks is to provide a platform for individuals to allocate in property funds using cryptocurrency. This eliminates the need for large allocation amounts and the hassle that comes with traditional property allocation. Additionally, MyBricks aims to provide perks for users, such as low-cost rental on premium accommodation and discounts on home improvement services. The project has expanded its offerings, with a booking system added to the MyBricks dashboard, an NFT marketplace launched, and a MyDebitCard with airport lounge access introduced.

What is the history of MyBricks?

MyBricks was launched on 23rd July by a team of 15 business owners, property developers, and tech entrepreneurs based in the UK. The project was born out of a mission to make property allocation more accessible, and it has since grown in the cryptocurrency space. The project has provided a 65% return to its users in 2022, despite the average rental income for properties in the UK being 3.63%. The project's success can be attributed to its model that combines property allocation with blockchain technology, as well as its commitment to providing potential returns for users.