Blockchain-based property portal Blocksquare has unveiled its token sale and pilot program that has launched in the past few weeks. With this token sale, backers will be able to get a cut of property sales and rentals with cryptocurrency investment.
Currently the pilot program reaches only Slovenia, but there are plans to extend to Luxembourg and Switzerland, according to Blocksquare. It is currently unknown where else the service will spread after these plans are brought to fruition.
Blocksquare claims the use of the blockchain allows all users to quickly find what they're looking for without jumping through hoops. All users would have to do is click a button on their personal agent's site that allows them to integrate into the blockchain.
The service also lets brokers easily advertise their listings across a variety of platforms. No exact supporters were named, but those involved will have buttons on their site that links directly back to Blocksquare, and will allow users to access Blocksquare services immediately.
“Taking in funding through a multi-series model allows us to be flexible, which is necessary in a fluctuating market where conditions are not always perfect for ICOs,” added Denis Petrovcic, co-founder and CEO at Blocksquare. “Our community of supporters and people who share our vision are invaluable to us, so we’ve lowered the Series A token sale price and are offering all contributors an extra bonus due to the market drops. We’re building a strong community and are confident that our multi-series token sale model is the best approach for bringing real estate options to everyone.”
Due to recent shifts and volatility in the market, Blocksquare tokens will be sold for twenty-five cents US at first. The firm hopes to reach $5 million by the end of the token sale. They also claim the tokens will go up in value in due time, so those who take part in the sale will not just be throwing money into the company's pockets without any return.
Blocksquare has been working on tools to allow for easy blockchain access since its inception, and these steps are the first in many to legitimize crypto in real estate funding.
According to their site, "Blocksquare’s founding and development partner is Medius Inc, an IT company established in 2002 with a well proven track record delivering numerous business applications for its corporate clients."
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