HomeBlockchainIdoneus: unlocking luxury assets to create an inclusive ecosystem

Idoneus: unlocking luxury assets to create an inclusive ecosystem

PRESS RELEASE

For high net worth individuals, divesting out of luxury assets can be a real headache, but Idoneus offers a solution.  

For example, a beautiful villa with a large ticket price may take years to find the right buyer, costing the owner time and money in the interim. And while the owner may not need liquidity from the sale of the asset, no one wants to take a hit on price or compromise value.

It may be that the asset has served its purpose for the owner: perhaps the family has grown up, or business took them to another part of the world. There are many reasons why the original asset is no longer required and finding a purchaser can be extremely difficult.

The concept of trading or swapping assets is not uncommon, but it is difficult to find the asset swap that suits both parties and in addition, it can be hard to match the value of both.

Then how does one create an ecosystem that allows individuals with more modest incomes to enjoy luxury goods, even if on a fractional basis or for a temporary period?

The answer is Idoneus and heading up the company is Jarrett Preston, also founder of the world’s only international asset trading company, Obsidian International, and who gave 600 keynotes in 10 years of life, many of them in the real estate industry.

Jarrett Preston
Jarrett Preston

How Idoneus was born

Working in the real estate industry, Preston started to think “what if there were other folks who might have high value or interesting assets that they didn’t want any more.  Maybe they had inherited them, grown out of them, increased their value through redevelopment and now they wanted to monetise them.”

He placed a number of small public advertisements and within 30 days he had between 45 and 60 people looking for his help. Initially it was ranches, cabins, condos, high performance boats and sailing yachts, most of them valued from $500,000 up to maybe $3million. 

“Since those early days we have expanded significantly both in terms of value, scope and global reach. To date, we have matched trades for private islands, aircraft, signature residences, rare diamonds and other assets valued as much as $200 million. The problem the owners have with these unique, high-value assets is that they are not easy to monetize. This is where we stepped in.

Idoneus uses the blockchain

Idoneus takes asset trading to a whole new level with the introduction of blockchain and cryptocurrency.

When joining forces with the development team at Idoneus, Jarrett could instantly see the benefit of tokenising the assets. 

“When trading assets there can often be a financial imbalance between the assets however much both parties may wish to trade. So, it can be hard to figure out the shortfall.  By tokenising the underlying assets it offers asset owners a number of choices. We have built a barter trade token, a global digital currency that allows owners to move in and out of assets and move into other currencies. We will also go to the public exchanges with the token which creates a path to liquidity that has not been available to asset owners before.

In the history of barter networks one outstanding challenge is that there is no pathway to liquidity with barter dollars. We have solved this issue with Idoneus and the IDON Token.”

Tokenising the assets offers more avenues for the owners of assets.  They might barter a high value yacht and decide to purchase diamonds on the platform – it doesn’t have to directly match any more as the value can be taken in tokens and then used to purchase other diverse assets on the platform. Or indeed traded back into fiat via an exchange as adoption and trade volume builds.

Using blockchain technology Idoneus can also offer an efficient, secure and transparent technical solution.

The final part of the puzzle is the sale of tokens directly which will be available to the global population at large. The timing for this public sale commencement is scheduled for the first quarter of 2020; the company is based in Switzerland with final regulatory approval being completed now. The token is based on the ERC777 and will be deemed a payment utility. The 777 token was selected as it is the most advanced and secure utility token available. 

“We have taken great care with every aspect of creating the Idoneus Ecosystem and this absolutely extends to the choice of the token which holders will use. The ERC777 is the most advanced token standard which will be able to meet the needs of those within our ecosystem; it has new theft-prevention capability, more advanced levels of functionality and is highly customizable when compared to the previous gold standard, the ERC20.”

The interesting aspect of the Idoneus project is that the token is asset-centric from the get-go. While purchasers of the IDON Token will not inherently own a part of the underlying asset, as members of the ecosystem they can use their tokens to gain access to the assets in many different ways.  As the platform acquires more and more assets, and forms more and more joint ventures with companies which sell or rent/charter luxury assets, goods, services and experiences, they are building in utility for every token holder with each addition of boutique hotels, luxury condominiums, signature villas, yachts, private islands, aircraft, jewellery, etc.

Idoneus intends to provide a pathway for owners of luxury assets to divest out of their holding and into an asset class which is experiencing rapid growth, increased utility, no holding costs, and which can serve as a diversifying counterbalance within their portfolio, but they also synergistically work with luxury brands to drive their revenue. 

“Idoneus assists its strategic partners by expanding their client base of luxury consumers, thereby allowing them to sell more. Essentially, the core demographic at Idoneus is the exact same person that luxury brands seek to reach. Each strategic partnership expands the options for those within the Idoneus Ecosystem and allows the luxury company to sell more of their goods, services or experiences. It’s an unmatched scenario which provides exceptional value for all involved.” 

 

Crypto Advertising
Crypto Advertisinghttps://cryptonomist.ch
Do you want an article to be published on Cryptonomist? Do you want to advertise your project? Send an email at [email protected]
RELATED ARTICLES

MOST POPULARS

GoldBrick