Blockchain technology is continuing to reshape the real estate industry, and OFA Group Inc. has landed another major project in the growing sector. The California-based technology company has signed a $7.5 million agreement to provide tokenization infrastructure for a large residential development project in Vero Beach, Florida. The deal strengthens OFA Group’s position in the real-world asset tokenization market as developers increasingly explore blockchain-backed property investment models.
The agreement was signed on May 8 between OFA Group, Vero 60 LLC, and Vero Beach Land Development LLC. Under the contract, OFA Group will deploy its proprietary Hearth platform to support the digital infrastructure for a planned low-density residential community on agricultural land in Vero Beach. According to the client’s estimate, the completed development could eventually achieve a stabilized value of about $500 million, subject to independent valuation before any future token issuance.
Hearth Platform to Support Digital Infrastructure
OFA Group said its Hearth platform will provide blockchain-based infrastructure services during the project’s pre-development stage. The scope of work includes smart contract deployment, digital token structuring, blockchain asset registry creation, and compliance-related technology features such as identity verification and transfer controls.
The company clarified that the digital tokens connected to the project will not represent direct ownership of the physical property itself. Instead, the tokens are expected to reflect equity or economic interests tied to a special purpose vehicle associated with the development.
OFA Group also emphasized that it will act strictly as a technology infrastructure provider. The company will not participate in securities issuance, investor solicitation, brokerage activities, fundraising, or custody services. All legal, regulatory, and securities compliance responsibilities will remain with the client and its advisers.
In a company statement, CEO Larry Wong said the agreement highlights the growing use of blockchain infrastructure in large-scale real estate projects and demonstrates the capabilities of the Hearth platform in supporting digital asset integration for property developments.
Payment Terms and Revenue Structure
Under the agreement, OFA Group will receive a fixed technology services fee of $7.5 million. The payment will be made in two installments of $3.75 million each, and the company confirmed it has already received the first installment.
The contract also allows the client to make payments in U.S. dollars, Bitcoin, or USD Coin. OFA Group stated that the technology fee is fixed and is not tied to the success of future token sales, fundraising activities, or external investments linked to the project.
The company added that revenue from the agreement will be recognized under U.S. GAAP accounting standards as project milestones are completed.
Growing Interest in Real Estate Tokenization
The Florida agreement follows another major tokenization contract announced by OFA Group earlier this year for a mixed-use development project in Long Island City, New York. The company has been expanding its blockchain infrastructure business as interest in tokenized real-world assets continues to grow across the real estate sector.
Industry observers say developers are increasingly exploring tokenization as a way to modernize asset management, improve transaction efficiency, and create new investment structures using blockchain technology.
With the latest Vero Beach project, OFA Group continues to position its Hearth platform as a technology solution for developers seeking blockchain-based infrastructure for large-scale real estate projects in the United States.
