Step Aside Move-to-Earn, We’re Selling Air Now

The crypto market is no stranger to creative business models. Previous ideas like Move-to-Earn and Sleep-to-Earn were certainly thought-provoking, but SkyTrade’s vision of selling the skies is bringing the air itself into tokenized markets.

SkyTrade Announces Pre-Seed Raise

Earlier this week, SkyTrade announced the successful completion of its Pre-Seed round. Led by Modular Capital and Portal Ventures, the project also received support from the Solana Foundation, the Mercatus Center, and a handful of individual angel investors.

Vincent Jow, co-founder at Modular Capital, expressed excitement about the raise, positing that the international Air Rights market is ripe for disruptive technologies.

“We are excited to back SkyTrade as they bring the massive and opaque air rights market worth $30T onchain. Whether buying, selling, or renting air rights, SkyTrade will unlock novel use cases across multiple industries”

Portal Ventures founder and former Goldman Sachs investment banker Evan Fisher reinforced Jow’s sentiment, asserting that SkyTrade brings an inventive new approach to crypto’s thriving RWA (Real-World Assets) market.

“SkyTrade takes a refreshing approach to crypto and real-world assets. Jonathan [SkyTrade CEO and co-founder] is using crypto rails to streamline transfer of value and trust in a truly blue ocean market - tokenizing air rights. We’re thrilled to back a clear thought leader in the space and help unlock a new asset class.”

How Does SkyTrade Work?

SkyTrade envisions a fully decentralized air rights marketplace. Estimating that the price per square foot of air space can reach over $400, SkyTrade aims to democratize airspace ownership and empower individuals and businesses to monetize their legally owned airspace.

Leveraging blockchain technology, SkyTrade proposes an online marketplace where air rights can be actively bought, sold, and rented. By increasing their accessibility through tokenization, air rights could well become a unique asset class available to investment portfolios of all sizes and backgrounds.

For some air rights owners, SkyTrade aims to provide a means of passive income. Critical to urban planning and drone delivery businesses, access to air space is a valuable commodity. In theory, owners can rent their air space to surveyance companies and drone operators, generating additional income where before there was simply clear air.

While some consider SkyTrade's business model pragmatic, commentators on Social Media haven't been so supportive. One commenter noted that SkyTrade's vision was "literally impractical" and the "silliest thing I have come across yet. Another expressed skepticism, highlighting legal concerns and ownership issues.

Others opted for a more humorous take, playing off the general public's perception of crypto markets.

Yes, There’s Even Sky Points

Naturally, SkyTrade is employing one of the most popular methods of attracting attention in the Web3 world. To help kickstart its growth, Sky Trade is launching a points system and referral program to encourage involvement in the platform.

By inviting friends and expanding SkyTrade’s user base, individuals earn Sky Points, as well as a 10% bonus to the income generated by referrals. So far, the SkyTrade is yet to confirm if Sky Points will be associated with an eventual SkyTrade token.

While selling your legally owned air space might seem like an idea that’s been plucked out of thin air, air rights markets are a massive sector within the real estate industry. SkyTrade encourages interested parties to claim and register their airspace ahead of the platform’s official launch.

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