Crypto Altruism Podcast Episode 110 - Bonfire - Democratizing real estate access with blockchain technology
In episode 110, we’re excited to welcome Joshua Kagan, CEO & Co-Founder of Bonfire, a Web3 startup using the power of blockchain technology to enable every day people to have access to wealth generation. We discuss how blockchain can democratize access to the wealth-building power of real estate, how tokenization will revolutionize the way people of all income levels invest in physical assets, how Web3 can level the playing field for younger generations through the creation of a fairer economy, and much more.
Three Key Takeaways
For most people, a house is the biggest asset they’ll ever own, and is a reliable path to building intergenerational wealth. However, real estate ownership has become a pipe dream for younger generations as prices, interest rates, and demand have all increased.
Tokenization makes it easier for the masses to gain access to real estate and other physical assets that were previously out of reach by lowering the cost of entry, providing liquidity in a way that hasn’t existed before, and lowering bureaucratic barriers that slow down real estate transactions.
There are billions of people around the world who lack access to physical assets like real estate to help build their wealth. Tokenization can level the economic playing field by facilitating access to these tools to help individuals escape cycles of subsistence living.
Follow Joshua and Bonfire
Episode Time Stamps
02:45 - What was your “Ah hah” moment that got you excited about cryptocurrency and web3 in the beginning?
04:30 - Bonfire has the goal of “democratizing real estate”? Can you please give listeners a high-level overview of Bonfire’s mission?
07:50 - Walk me through the process of investing via Bonfire – how does it work?
09:30 – How does the revenue sharing work for token holders of a property?
11:00 - Why blockchain? What features of blockchain make it a good fit for Bonfire?
13:55 - I understand you are utilizing DAOs to manage the properties – tell me more about this, and what are the benefits of this type of structure?
18:55 - In your whitepaper, it mentions how “Bonfire believes that the time has come for a new type of project – a blockchain project tied to legitimate assets with no rug pulls, exaggerated hype, or cringe NFTs. We have the capacity to help 1 billion people own real estate and create generational wealth on their own terms as part of a global community.” There are many who are hesitant to invest in Web3 projects, especially in light of the recent collapses and scams that have happened. What would you say to them?
22:05 - Beyond real estate, how can blockchain open the door to other investment opportunities that were previously out of reach for small retail investors?
25:25 - What’s the best way for listeners to follow you and learn more about Bonfire?
26:30 - To wrap things up, if you could name one thing that excites you most about the social impact potential of web3, what would it be and why?
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DISCLAIMER
While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More available HERE.
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