Tokenization of highly valued real estate on the Ethereum blockchain
Ethereum

Tokenization of highly valued real estate on the Ethereum blockchain

By Alfredo de Candia - 28 Feb 2019

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Inveniam Capital Partners will tokenize up 4 real estate projects using the Ethereum blockchain for a total value of 260 million dollars. The idea is to tokenize 4 buildings, one of which is located in the centre of Miami and is worth 66.5 million dollars.

The company intends to sell tokens that represent a share of the property, representing the largest financial transaction of this type. In a few days, the ERC20 tokens will be made available on the Ethereum blockchain for all those who want to invest in the project.

All properties will be sold according to the Dutch auction system, a type of auction where prices are gradually lowered until a buyer shows up. The company will also give the opportunity to buy the shares with different cryptocurrencies, to be precise the first 50 for market capitalisation, a useful system for all those who have diversified their portfolio and don’t want to convert their cryptocurrencies into a specific one.

In order to participate in the sale, all potential buyers must have a minimum of $10 million in crypto and must make a minimum purchase of $500,000; the sale will follow the rules in accordance with the American SEC.

The other properties are a student facility in North Dakota worth $90 million, a multi-family facility in Southwest Florida valued at $75 million and finally an aqueduct in North Dakota valued at $50 million.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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