PANews reported on March 11 that according to Fortune magazine, real estate tokenization company Arda received US$3 million in Pre-Seed round of financing from Lightshift Capital. Arda will use the funds raised in this round of financing to develop product prototypes, recruit more engineers, and establish partnerships with real estate developers and other companies in the field.

According to reports, the company was founded by Oli Harris, former head of digital asset strategy at JPMorgan Chase, and aims to help digitize the entire real estate economy and store this data using blockchain technology. Harris said that when Arda launches its product, it will make a profit by charging a fixed fee to view real estate data. The company will also charge transaction fees for updating specific property data and processing transactions.