Real estate investment platform BitProperty to launch ICO

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fintech insurtech wealthtech regtech ai cybertech esg news

BitProperty, a Japan-based blockchain-powered real estate investment platform, is looking to raise more funds by launching a token sale later this month.

The company is a real estate tokenization platform built on the Ethereum blockchain. It is looking to help investors from all over the world invest in new, global real estate projects having recently launched a live prototype of its platform as a closed beta-version. Its mission is to eliminate the current restrictions and regulations involved with real estate investing.

On October 15, the startup will launch a token sale, handing investors the chance to purchase BTP tokens for 0.0001 ETH each. The token sale will last for 30 days or until the hard cap of 100,000 ETH has been reached. Bitproperty said there are a total of 2.9 million BTP tokens and no additional tokens will be created, ‘curtailing any potential token inflation’ according to the company. Out of that total, 35 per cent will be available over the forthcoming crowdsale.

Proceeds will assist in the development of its platform and provide the BritProperty community with a way to ‘profit from the future proceeds’. Holders of BTP tokens earn dividends not only from the platform’s transaction fees but by the profits generated by BitProperty’s own assets as well

In February 2016, BitProperty has partnered with the Japanese real estate development company Nikkei Housing and purchased the rights for their $14 million solar farm. Thus

Ryo Nomura, the CEO of Bitproperty, said: “We want to demonstrate to potential investors looking at our token sale that will have a steady pipeline of projects coming onto our platform. The agreement with Nikken Housing, along with other pending agreements is the best sign yet that there is real excitement and demand for our solution.”

Earlier this month, Blockchain-based real estate investment platform HomeToken received over $3m in a pre-ICO fundraising campaign. The investment was supported by SouthEast Asia-based investors and come just ahead of HomeToken’s ICO, which saw the company put 65 per cent of its 100 million HOME tokens up for sale, with an initial price of $1.

Despite both companies going ahead with ICOs this year, investments in Real Estate Tech companies slowed down in the first half of the year after a record 2016 according to data by research by FinTech Global. A total of $2.21bn was invested in Real Estate Tech companies last year – more than double the funding in 2015.

Copyright © 2017 FinTech Global

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