Selling a property in Switzerland for 135 million dollars based on the blockchain
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Answer Selling a property in Switzerland for 135 million dollars based on the blockchain
BrickMark, a company working in the field of supporting and integrating blockchain in the real estate market, announced the purchase of a property in the heart of Zurich, Switzerland, worth $135 million, using “BrickMark Tokens” based on the Ethereum blockchain. Advertising about him.
In an interesting development, token holders will get income from the rent generated by the property, although BrickMark has not disclosed many details.
“We have gladly accepted Brickmark tokens as part of the purchase price. We assume that digital financial instruments will gain great importance in the real estate sector in the future,” said Alexander Koplicic, Managing Director of RFR Management GmbH.
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It is worth noting that BrickMark purchased the property from RFR Holding GmbH.
The property purchased by BrickMark is a 1,600 sq m rentable office block and shop on the ground floor.
RHR will hold a 20 percent stake in the property and will lead the development of the building.
Stefan Rend, CEO of BrickMark, said:
We are opening new horizons for the real estate industry
There has never been any real estate transaction on a token basis of this magnitude.
We implement what is more than just a concept in the real estate sector.
BrickMark will now finalize a funding round that will see international investors raise about $56 million into the property.
BrickMark is following other companies that are incorporating cryptocurrency into real estate.
Real estate firm Alliance Investments is tokenizing the high-value properties, which are worth about $650 million, on the Tezos blockchain.
Read:A technical error allows a hacker to transfer more than two million EOS cryptocurrencies
Meanwhile, AssetBlock, a real estate investment platform, launched the Algorand project as a hotel equity token.
Read also:
Blockchain technology and its uses in real estate
What is the relationship between real estate and cryptocurrency?
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