BitProperty is a Japan-based platform that leverages Blockchain technology to help investors from all over the world invest in new, global real estate projects. In contrast to existing investment vehicles, BitProperty helps all kinds of investors access real estate markets in a way that hasn’t been possible until now. The project’s goal is to remove the financial and regulatory restrictions barring the way to real estate investment.
The whole system is built on the Ethereum blockchain and uses two types of tokens. The first type is the asset token that represents a share of a particular asset featured on the platform and entitles its holder to receive the dividends from its revenue. The second type is the BTP token representing the inherent value of the platform backed by the pool of company’s managed assets. Holders of BTP tokens are entitled to earn dividends from the platform’s transaction fees and the profits generated by BitProperty’s own assets.
In February 2016, BitProperty has partnered with the Japanese real estate development company Nikkei Housing and purchased the rights for their $14 million solar farm. Thus, the company backed its BTP token with a profitable asset from the very beginning and established a potentially beneficial agreement for new assets to list on the platform.
Ryo Nomura, the CEO of Bitproperty, said: “We want to demonstrate to potential investors looking at our token sale that will have a steady pipeline of projects coming onto our platform. The agreement with Nikken Housing, along with other pending agreements is the best sign yet that there is real excitement and demand for our solution. Real estate developers like Nikken Housing are excited by the prospects of connecting with a wider, global investor community and by the open possibilities enabled by Bitproperty’s token model.”
The company will release a live prototype of the platform as a closed beta-version on October 5th, 2017. Shortly afterwards, on October 15th, BitProperty will start offering its BTP tokens to investors for 0.0001 ETH each. The sale will go on for 30 days or until the cap of 100,000 ETH is reached.
The total amount of issued BTP is 2.9 billion, 35% of which have already been sold to early backers, and 35% will be available over the forthcoming crowdsale. The remaining 30% will be distributed among the advisors, the team, and the company.
Ryo Nomura said about the upcoming ICO: “We have a vision at BitProperty of breaking down the barriers to real-estate investment, which is currently a difficult market to enter due to high cost and burdensome regulations. By tokenizing investment opportunities it will unlock this market to a vast number of new investors all over the world. This is our goal, and the ICO is a key step towards helping us achieve that.”
Token sale will help fund the development of the platform as well as providing the community with a way to profit from the future proceeds of projects that will be available through the Bitproperty platform. According to Bitproperty developers, the total amount of capital raised over the crowdsale will be allotted for the development and recruiting expenses, legal compliance procedures and marketing.
After the crowdsale, BitProperty is expected to list BTP token on popular exchanges and prepare the platform for public beta release, scheduled on January 2018. The final release of the platform is set to March 2018. Once the platform is released, the team will focus its efforts on expanding the market to support real estate investment in new jurisdictions.