Blockchain-based real estate investment platform HomeToken has received over $3m in a pre-ICO fundraising campaign.
This investment was supported by SouthEast Asia-based investors and comes just ahead of HomeToken ICO, which launches on October 1st. The funding will be used to make acquisitions in Asia real estate sector, buying either near-city small apartments, which range between 250 to 1200 square feet, or private nursing homes.
The ICO will see the company sell 65 per cent of its 100 million HOME tokens, with an initial price of $1. The remaining tokens will be distributed out to partnerships and joint ventures, marketing campaigns and retained by the company.
HomeToken aims to simplify property investment by using the blockchain technology to allow all types of investors as well as removing costs and risks of traditional investing. The majority of the profits for investors is made through rental and capital appreciation of the apartments and nursing homes through new ownerships, with the company also buying back HOME tokens next year at market rates to avoid inflation.
To keep transparency and accountability, any investment in the portfolio will be recorded and posted on YouTube.
The company intends to develop more private nursing homes to counter Asia impending age crisis. HomeToken?has already opened its first private nursing home for its portfolio earlier this month.
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