39.5 C
Monday, May 27, 2024
HomeBlockchain InfrastructureBitProperty to Hold Both Token Sale and Beta Release of Its Platform

BitProperty to Hold Both Token Sale and Beta Release of Its Platform


Related stories

BitProperty, a Japanese-based platform offering real estate investment opportunities, will be launching a closed beta sale on the 5th of October.  The company will then launch a token sale campaign on the 15th of October, the proceeds of which will fund further developments on the platform.

The Ethereum blockchain-driven platform provides a three-prong approach to combating the regulatory and financial restrictions that usually limit real estate investments.  Users are allowed to create, buy and sell certain assets, which represent rights to revenue generated by specified real estate properties.

The platform uses two tokens, an asset token, and a BTP token.  As its name suggests, the asset token represents one share of a certain asset on the platform.  It allows the holder to receive dividends from the income of that particular asset.  The BTP token is a bit different.  It represents the intrinsic value of the platform as it is supported by the assets which are managed by the company.  Because of this, owners of these tokens can earn both transaction fee dividends, as well as profits which the company generates from its own assets.

In February last year, the company entered into a partnership with Nikkei Housing, a Japanese real estate firm.  BitProperty then went on to buy the rights to the firm’s $14 million solar farm, which subsequently allowed the platform to support the BTP token with a lucrative asset from the start.  This move also paved the way for new assists to come on board the platform.

The beta sale on the 5th of October will also allow the company to showcase their live prototype of the platform.  BTP tokens can then be purchased from the 15th of October at 0.0001 ETH each.  Their cap is set at 100,000 ETH and the sale will continue until that is reached, or alternatively for a total of 30 days.

An initial amount of 2.9 billion BTP tokens were available, of which 35% has already been sold to early investors.  Another 35% will be sold through the crowdsale.  The remaining 30% will be internally distributed within the company.

The platform’s developers have indicated the money raised through the crowdsale has been allocated to expenses relating to development, recruitment, legal compliance procedures and marketing efforts.

BitProperty plans to list their BTP token on well-known exchanges after the crowdsale, and they also plan to implement a beta release of the platform to the public in January 2018.

The final release is set for March 2018.  Thereafter, the company will expand their efforts to new areas.


Latest stories