Real estate blockchain startup announces ICO
Las Vegas-based blockchain startup REcoin Group has announced launch dates for its cryptocurrency crowdsale. The ICO is set to go live on Aug. 7 and continue through Oct. 7.
REcoin founder Maksim Zaslavskiy has announced that the crowdsale process will include both a pretoken sale and an official ICO fundraising campaign.
REcoin is a proprietary cryptocurrency designed for a broad range of financial transactions and is backed with real estate held by the 101REcoin Trust, which includes real estate in developed and stable economies such as the Canada, Great Britain, Japan, Switzerland and the U.S., according to a press release.
An international team of attorneys and programmers has been working on solutions that will allow REcoin holders to enter smart contracts in real estate rentals with sales contracts to be added at a later date, the press release said.
Proceeds from the initial sale of tokens will be invested in the highly regulated real estate market in virtually all jurisdictions; 83 percent of the mining within 50 years of the issue will be invested in real estate as well.
The REcoin ecosystem has been constructed to enable search, creation and integration of internet platforms that provide services in the real estate, retail and financial markets.
Point-of-sale and other specialized can also apply for inclusion in the affiliate program. The release said that a lucrative partner program has been designed for the purpose of expanding the range of operations and services in real estate for which it is financially beneficial to conduct operations in REcoin.
By the time of launch, the REcoin ecosystem will be represented by internet partner platforms that include:
- rebid, an online platform for real estate sale and leasing auctions;
- cowork, an internet platform for finding and offering real estate services;
- news, a site dedicated to real estate news;
- MLS, a classified ads platform designed specifically for realtors; and
- fundit, an online real estate crowdfunding platform.
REcoin urges investors to get better acquainted with the company before choosing to support the project. The presale of tokens is not limited, however, the volume of tokens designated for sale at a discount is limited.
REcoin is an Ethereum-based cryptocurrency with smart contracts capabilities for B2B, B2C or P2P real estate rental activities. The value of REcoin is guaranteed by American real estate assets, which are held in a trust equal to the value of all REcoins sold. REcoin supports its own ecosystem and runs as their internal payment unit.