The blockchain-based real estate platform Blocksquare announced that it has launched its first pilot program, in the same week that it also opened up its crowdsale, on April 18.
The pilot project entails securitizing multi-unit real estate properties in Slovenia with tokens. The units sell out each year, making it a favorable investment and an opportunity for backers to acquire a fraction of a rent-generating property, according to Blocksquare.
Future projects will take place in Luxembourg and Switzerland, the company added.
Blocksquare stated that its network allows anyone to easily and freely trade tokenized assets without long-term obligations, making the venture opportunity fit the needs of backers looking to delve into the cryptocurrency market. To participate, users will simply visit a commercial real estate company’s online site and click a widget, similar to PayPal, to start contributing.
Blocksquare’s platform will also allow real estate brokers to market their properties to hundreds of potential investors.
“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.”
Blocksquare’s tokens start at USD.25. The company stated that it’s selling tokens at this price due to recent market volatility.
