Blocksquare Launches ICO for Blockchain Based Real Estate Platform

Blocksquare, a blockchain-based online real estate platform, has opened its Series A initial coin offering (ICO). This first crowdsale has been capped at $300,000 and a price of $0.25 USD due to market volatility, according to the company.

Along with the launch of the crowdsale, the company said its first real estate property pilot program will be tokenized in partnership with Genii Capital at some point in Q2. The project is to buy into a multi-unit real estate property occupied by students in Ljubljana, Slovenia. Blocksquare says the units sell out each year. According to a post on Medium, Blocksquare expects the property to yield around 5% year.

“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,” said 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 says it is developing the infrastructure and standard for real estate tokenization and fractional ownership to open real estate ventures for the everyday internet user. Blocksquare’s network expects to allow anyone to freely trade tokenized assets without long-term obligations, making the venture opportunity fit the needs of backers. BST is an ERC20 “utility” token with a total supply of 100,000,000.

There are a growing number of real estate platforms that are using crypto to enable investment in this asset class. There are clear benefits to using a blockchain based platform for real estate investments but the question is can you scale? Blocksquare points to the fact that Philip Nunn, CEO of the Blackmore Group in the UK, is a prominent advisor for this company.

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