Tokenized air rights? this startup is building the future of real estate in the sky
What if the airspace above your home or building could generate passive income? That’s the promise behind SkyTrade, a blockchain-based platform transforming how air rights are valued, traded, and monetized. Founded in 2023 by Jonathan Dockrell and Marcin In the US, the startup is quietly building one of the most novel applications of blockchain technology in the real estate space and its ambitions stretch far above ground level.
Using Solana and NEAR blockchains, SkyTrade lets property owners tokenize and trade the rights to the vertical space above their land, opening new opportunities for vertical construction, drone operations, and even view preservation. So far, the platform hosts over 14,000 tokenized parcels, valued at approximately $38 million, with a pipeline reportedly exceeding $120 million.
“Air rights are an invisible yet incredibly valuable asset class,” says co-founder Jonathan Dockrell. “SkyTrade aims to make them tradable, accessible, and transparent for the first time in history.”
Tokenizing the sky
The legal right to control the airspace above a property, known as air rights, has historically been a feature of intricate real estate transactions in dense urban centers such as New York. However, growing urban density and advancements in drone technology are driving a resurgence of interest in this market.
SkyTrade is capitalizing on this by digitizing air rights as compressed NFTs, allowing them to be bought, sold, or leased on-chain. For example, drone operators might lease low-altitude corridors to make deliveries, while developers could buy rights to add floors to a building. In scenic areas, residents may even purchase air rights simply to preserve their views.
“Think of it as the zoning layer of Web3,” explains Marcin. “We’re building infrastructure for the skies.”
Real estate meets web3
SkyTrade’s marketplace is powered by Solana’s high-speed architecture and NEAR’s HZN accelerator support, making transactions fast and cost-effective. Web3Auth onboarding allows real estate owners to join without technical friction, converting traditional property rights into digital tokens that can be traded like stocks.
The platform is backed by Modular Capital, Portal Ventures, the Solana Foundation, and counts support from Google for Startups, AWS, and Ernst & Young. This blend of Web3 firepower and institutional credibility has drawn attention beyond the crypto bubble.
In fact, SkyTrade was recently featured in TrenFinance’s 2025 Tokenization Report, placing it among the leading projects in the burgeoning Real-World Asset (RWA) movement.
Earning points in the sky
To drive engagement, SkyTrade has launched a rewards system called SKY Points. Users can earn points through transactions, referrals, and promotions. While the full utility of SKY Points hasn’t been disclosed, the roadmap hints at future uses in governance, staking, or ecosystem incentives, Adding a potential DeFi layer to an already unique platform.
A valuation calculator, currently in U.S. beta, allows property owners to estimate the worth of their air rights. Early data shows wide price variation:
| City | Cost per cubic foot |
| New York City | $582.24 |
| San Francisco | $1,284.29 |
| Orlando | $831.37 |
| Nashville | $832.19 |
With urban density on the rise, these numbers reflect a hidden market with exponential upside.
Why SkyTrade stands out
SkyTrade is the only platform fully dedicated to tokenizing air rights, combining real estate, blockchain, and drone infrastructure. Its dual-chain (Solana/NEAR) architecture, consumer-focused marketplace, and regulatory-first model give it a unique edge in unlocking the future of vertical real estate and drone economy.SkyTrade uniquely tokenizes air rights by merging real estate, blockchain, and drone technology. Unlike RealT (physical real estate), SliceSpace (limited traction in air rights), AirSwap (token trading), 808Blockchain (real estate tokenization without airspace focus), and SITA Sandbox (aviation data, not trading), SkyTrade offers a dedicated platform with a dual-chain (Solana/NEAR) architecture, consumer marketplace, and regulatory focus, positioning it to lead in vertical real estate and the drone economy
Beyond borders: a global opportunity
SkyTrade’s vision isn’t confined to U.S. cities. A recent blog series and the popular Substack newsletter Where’s My Flying Car?, penned by Dockrell and followed by over 17,000 subscribers, highlights the platform’s global aspirations. From Tokyo to São Paulo, SkyTrade sees air rights as a universal asset that can be fractionalized and democratized.
In January 2025, the startup partnered with Plume Network, a move aimed at scaling accessibility and distribution of air rights to new regions.
Roadblocks and runways
Despite its momentum, SkyTrade faces regulatory and adoption challenges. As noted in a 2024 Blockworks article, securing drone demand remains difficult, while zoning laws vary dramatically by city and country. Convincing traditional real estate holders to digitize unfamiliar assets won’t happen overnight.
Still, the fundamentals are promising. The global air rights market is valued at up to $30 trillion, and blockchain adoption in real estate is accelerating. SkyTrade is betting that fractional ownership and tokenized trading will attract new types of investors from institutions to everyday homeowners.
Final approach
SkyTrade represents one of the most compelling intersections of blockchain, real estate, and urban infrastructure. By tokenizing the air above us, the startup is not just building a business, It’s crafting an entirely new asset class.
