Don’t you think Real Estate on chain will be worth more than real estate IRL and that will create a extra value which is not real? And thus at certain point there could be a loss.
Hey, we believe that Real Estate in the real world will act as a backing for Real Estate on-chain. This means that the value of Real Estate on-chain should not fall below the value of Real Estate in the real world and should in fact be more than it. As you rightly mentioned, there will be an extra value. We believe that the extra value will come from the use cases that Real Estate on-chain unlocks. This comes in the form of the Real Estate Tokens (RET) that IRO participants obtain which will have multiple use cases such as yield farming, taking out collateralized loans, Real Estate Indexes and other Primitives. These are use cases that you would not be able to find or have difficulty finding with Real Estate in the real world.
We believe that all these use cases will make Real Estate on-chain more valuable than Real Estate IRL, thus making the extra value 'real'. It is similar to how Ethereum derives its value from it being used for transactions and how Bitcoin derives its value from it being used as a store of funds. Hope this helps!