#03 Welcome to the Tribe
Tribe ~ Tokenizing Dubai Real Estate
As I highlighted in my previous post, I recently co-founded Tribe in June. Together with three other co-founders, we’ve been learning and building at warp speed in a space that doesn’t usually allow for much “speed.” I recommend following Gary’s Substack for a deeper understanding of the why and purpose, as this update may not do it full justice.
Conflict of Interest
When Ethereum first launched, I was 100% bought in and went full blockchain for a few years, absolutely nerding out (annoyingly so) on how powerful the technology could be in solving real-world problems. Fast-forward a few years, and my optimism had nearly evaporated as governments and banks regulated out most of the good actors, leaving behind a generation of degens, memecoins, and opportunistic cons.
So when Gary started pitching the idea of Tribe as a tokenized solution for real estate, my enthusiasm wasn’t what it would have been years ago. However, after months of building, it’s clear the Dubai and UAE regulators genuinely want to innovate and lead change themselves. They’re learning, compromising, and moving fast, while establishing a precedent for others around the world to follow.
Problems Worth Solving
The tokenization of real estate helps address three near-term, global challenges (among others):
Housing affordability: The price of home ownership is becoming unattainable globally, especially for first-time buyers. Tribe lowers the barrier by enabling a practical rent-to-own model.
Democratized access: Traditionally, high-value real estate has been limited to those with expertise and large capital. Tribe simplifies access for retail investors.
Liquidity: Through a Tribe marketplace, property holders can buy and sell their shares when they want.
In the short period of time we have been building and learning, it is very clear that it is not only the UAE and Dubai who are aware of the problem and opportunities. In just a few short months, we have been invited to several accelerator programs in different regions, and are sourcing new opportunities weekly 🐿️.
Auxiliary Opportunities
While Tribe is focused on supporting the UAE’s vision to digitize its economy (including real estate), we’re also working with other regions to explore and validate similar initiatives.
Beyond accessibility to home ownership and high-value real estate, Tribe will soon have the foundation to explore innovations such as:
Allowing landlords to liquidate a portion of property to free up capital.
Re-imagining the outdated timeshare model by bridging ownership and usage.
Facilitating fix-and-flip opportunities for quicker ROI.
Tokenizing real estate funds.
Brokerage tokenization enablement.
Unknown Chaos
We incorporated in June and are closing in on the end of our pre-seed round. The team is moving fast and smart, investing heavily in navigating regulations, building a standout product, and constantly challenging each other to stay focused despite new contacts and opportunities emerging daily.
A few weeks ago, Tribe submitted its VARA Stage 2 application (a big milestone). Until approval, we’re not permitted to promote anything investment-related and must keep marketing efforts muffled, a challenge in itself.
Initial Core Offering Pitch (pending VARA approval)
The Alpha “education-only” app has just been released. We’ll be actively iterating on it while building in the background ahead of a full launch.
International Real Estate investment (outside the UAE) is a regulator priority and potentially coming soon.
One block (fraction) of a property ≈ $750 CAD.
Earn rental income (yield) relative to the property share you own.
Expected exit window: ~3 years (voted on by property owners/investors).Buy and sell blocks anytime on Tribe’s secondary market.
Receive a digital deed from the Dubai Land Department representing the ownership of the fraction of property.
Tribe will go live with its first properties in 2025.
Investment
We’re close to closing the pre-seed round, with plans to begin a seed round after tokenizing our first properties. If you’re interested in learning more, please reach out.
As for a Personal Snapshot
Having worked with UAE projects for the past four years, the allure of moving is very real, fueled weekly by the pressure from the team and reinforced on every Zoom call with vendors, advisors, investors, or clients. The business opportunities for 0Flips in the UAE are significant compared to Halifax: the weather, tax environment, and sheer energy to innovate and move fast are unmatched right now.
On the other hand, my daughter has just started school in the US, my wife is thriving in her career, and I still have a strong desire to innovate, drive change, and win at “home.” For now, the plan is to spend more time in the UAE with the team, deepen my understanding of the landscape, and begin laying roots with Tribe, 0Flips, and personally so that any future move, or hybrid solution, will be a smoother transition.
Conclusion
This post only scratches the surface of the opportunities and work already underway. Hopefully, it provides enough context for future updates.
The more time I spend back in the blockchain space, the more I’m reminded there are still many people and companies working behind the scenes to innovate and utilize the technology to create positive impact.