🏘️Our Legal Process to Acquiring and Tokenizing Properties

All properties within the PlayEstates platform are acquired through the lawful registry and legal transactions with complete documentation and transparency.

PlayEstates is registered as a Delaware series limited liability company. Through our LLC setup, which is amended by Reed Smith LLP, we are able to set up unlimited segregation of membership interests, assets, and operations into independent series, each of which is treated as a separate entity.

Each Series of PlayEstates LLC will purchase and acquire one unique real world property asset. LLC membership interest in each series is split into a number of digital token units, in the form of PlayEstates non-fungible-token (PNFTs). Ownership of any or all of the PNFTs of a particular Series gives an individual ownership and certain governing rights over the Series which has issued the PNFT and, therefore, over the discrete property owned by the Series. Because the sole purpose of a Series is to own one single property, ownership of all of the PNFT issued by a Series is effectively ownership of the property held by that Series.

All digital tokens will be recorded and stored on the Ethereum or other EVM-based blockchains. Each digital token will be encoded with a unique serial number, which can be found both in on-chain metadata, as well as the Series LLC Documentation.

The deed for the real property asset being acquired by a Series, that is, the legal document showing who owns the real property, lists the Series as the recorded owner of the real property. The deed is filed in the county where the property is located and thus ownership of the property by the Series becomes a matter of public record. Along with the filing of the deed, an affidavit will be filed stating that the property listed and described in the deed is owned by the Series, which has membership interest split into segregated units, each with a distinct Serial number and each Serial Number reflected in the affidavit. The affidavit is a redundant mechanism for linking ownership of the deed to the membership interests of the Series of the LLC.