The timeline of how Rex arrived upon the mission of a global real estate data marketplace extends even further back than the inception of the company in 2015. A mix of real estate industry veterans and technology developers, members of the Rex team had long been working on solving the lack of interconnectedness in the space by creating an interoperability layer between real estate networks, but were hampered by incumbent data service providers with little incentive to connect.
After reading the Ethereum whitepaper and learning about the Interplanetary File System (IPFS), we realized that blockchain technology, with its decentralized design, could deliver the incentive structure required to propagate change.
Through several years of research, development, fundraising, testing, and insight from members of both the residential and commercial real estate communities, our vision for real estate data has grown to encapsulate a comprehensive application of backend connectivity and frontend marketplaces. The project and team have evolved, expanded and matured, and it’s now time we reflect that growth in our brand…
Introducing imbrex, the Global Real Estate Data Marketplace where users own their data.
Imbrex is a term few know about, yet it has had a significant historical impact that dates back to 600 BC and the ancient Greeks. A rounded, semi-cylindrical clay form, the imbrex was a simple, but revolutionary solution to the very big problem of roofing in the earliest days of the real estate industry. The imbrex, by preventing water from leaking inside homes, improved health and living standards, and led to a boom in Greece’s fast-growing real estate economy. The design of the imbrex, simple as it was, turned out to be timeless. You can still see imbrices in modern housing design today.
Like our namesake, the imbrex ecosystem, facilitates a fundamental change to real estate standards.
The imbrex roadmap begins with the launch of the Alpha, where participating firms and individuals will be among the first to load listing data to a decentralized real estate data portal. When the imbrex Alpha opens up to the world, users will enter a community-owned ecosystem, where they are in control of their real estate data, incentivized to maintain its quality, and enjoy frictionless access to world-wide markets.
As the Ethereum blockchain progresses and scales, the roadmap continues with the release of the imbrex Escrow Commons™, an environment in which parties engaged in a real estate transactions can exchange data and documentation in a private, secure and transparent manner. Subsequent to the Escrow Commons™ release, imbrex will deploy the Marketplace Contract, enabling users to exchange real estate data, information and reports, much like they do goods and services on Amazon’s Marketplace.
Through a combination of vigorous development, an iterative perspective, and strong community support, imbrex will go live on MainNet in just a few short weeks. We don’t foresee a need to make any changes to the REX Token Contract in the rebrand from Rex to imbrex. Your REX tokens will remain unchanged and searchable in public directories (i.e. exchanges, wallets) under the acronym REX or IMBREX. We will however refer to it as the IMBREX token and update the token symbol from “R” to “m” to better reflect our new brand.
Two and half years ago, we were two people looking to solve local interoperability. Now, imbrex is comprised of nine talented individuals, a worldwide network of supporters, and is close to launching a groundbreaking decentralized app solving problems that have inhibited the real estate industry for decades. We are extraordinarily passionate about data, maximizing its value for the range of stakeholders involved, and creating a global infrastructure of interconnectedness in the real estate industry.
We look forward to this exciting transition and taking the next steps toward data connectivity.