U.Southward. tokenized real estate platform RealT striking record highs in sales and new users later on information technology turned to crypto-just transactions, post-obit a ban by payments platform Paypal in Apr.

The Ethereum-based startup tokenizes and sells U.South. property, allowing users around the world to share in property ownership for as trivial equally $50.

According to RealT'due south Twitter account, 62% of purchases on their platform were made via Paypal prior to the ban. Over the grade of a year, there were more than $800,000 Paypal transactions, with only four disputes raised by consumers worth $600 — or 0.075% of the full.

But in early April, the platform's customers began to report problems with Paypal transactions. A few weeks later Paypal sent a letter informing the visitor it had been banned "due to excessive take a chance" and that there volition be "no appeals to the determination".

Blessing in disguise

The squad decided to answer the question: Tin can a business organization survive on crypto alone?

TWEET:

Inside a calendar week of the switch to crypto-only payments, orders through its payment provider Coinbase Commerce increased nigh 240% thanks to the popularity of their sixth tokenized property, which raised $203,333 in shares worth $51 each.

According to RealT it was the visitor's all-time calendar week of sales ever with 100% of the revenue coming in via crypto. The RealT blog claimed it was "the fastest holding ever sold on Ethereum":

"While more payment merchants are always amend, the fact that RealT was able to hit ATH in both sales and new user signups, with Merely crypto as a payment mechanism, is insanely bullish for the crypto-space at large."

Crypto payments are amend than Paypal

Paypal has a long history of arbitrarily cutting off services and customers. In 2022, its users received warning emails advising them cryptocurrency was "prohibited under the Acceptable Apply Policy". In 2022 Paypal banned Pornhub (once again due to the policy) forcing them to turn to cryptocurrencies to pay their models. The company joined Facebook'due south Libra projection ... only to afterward drib out.