Comment by socketcluster

I co-founded a holiday real estate-backed crypto project in 2019. We only raised $50k though. Just enough to buy 1 unit in South Africa. We started using profits to do on-chain token buybacks with proof of burn. We proved the concept but scale was too small with just one apartment. It was a really cool concept though. Too bad the powers-that-be didn't select us.

The main problem with blockchain projects is that they're not decentralized in the way that counts. You still have to be chosen by the powers-that-be. There's still only one path to success; just like the rest of the tech sector.