Hometoken – The only tangible real estate blockchain technology
October 16, 2017 7:49 am,
Cryptocurrency is giving a boost to the virtual economy. We find most companies holding up Initial Coin Offerings (ICO) or investments in intangible assets or merely, an idea or a concept, but Hometoken brings a new twist to this circle by allowing its investors and participants to invest in real tangible assets. The brainstorming behind Hometown’s launch all started when the founders saw that the price of real estate started increasing faster than the income in the US. The investors had initially found a complicated way to fix this but that is only temporary. Hometown brings forth the method of tokenizing real estate with blockchain technology making investment accessible on a large scale.
As said earlier, Hometoken gives investment in real tangible assets, i.e, real estate. This property is placed in Asia’s largest emerging metropolises, with a kickstart at Kuala Lumpur, Malaysia. Hometoken aims to create a closed-end fund to invest in two types of residential properties, which are, Apartments ranging from 250-1200 square feet and Privatised nursing homes. Hometoken has done its homework with great research and has confidence that with their market knowledge and experience, the rental income and capital appreciation of their investment properties will increase the price of their tokens.
There are certain properties and advantages that bring Hometoken ahead of other blockchains. Its hassle free as the tenant complaints and property maintenance will be managed by Hometoken themselves. The only fees that are charged would be transaction fees imposed by the cryptocurrency exchanges where their tokens are listed upon. Every real estate agents get a commission fee ranging from 2% to 6% of the property’s sale price. The majority of funds raised would be used to purchase real estate to preserve the funds entrusted to them, by their investors.
The Initial Coin Offering has currently raised 1,67,595 USD. Hometoken is giving 20% bonus on tokens with the current price of 1 USD equaling to 1.2 Hometoekn. The total number of tokens raised would be 100 million. 65% to be sold in tokensale, 20% allocated for the future partnership and joint ventures (after all, every startup looks forward for expansion and growth), 10% would be retained by Hometoken and 5% for future marketing.