PAIRS, FRANCE: Immo Blockchain makes its first acquisition of real estate assets on the Blockchain via its subsidiary Investoken.
Investoken, a recently created land investment platform in “utility tokens”, has signed an agreement relating to a real estate asset located in Lille for an amount of €680,000.
It is a renovated and occupied building, the management of which will be entrusted to One Nest, a subsidiary of the Immo Blockchain group dedicated to the rapidly expanding market of “co-living”. The final acquisition of the property will take place by the end of February.
A real “investment club” based on Blockchain technology, INVESTOKEN has brought together a group of qualified investors who will benefit from a “utility token” allowing them the monthly payment of an income as well as access to the privileged services of the club.
“Tokens backed by real estate goods and services are very useful in an overly volatile crypto environment. The intrinsic value of our token is based on tangible and quality goods. They represent a stable value, which appreciates over time while offering a return. It also allows real estate investors to consider a smoother secondary market and make stone more liquid,” Antoine Tartiere – Co-founder and Managing Director of Investoken, said.
“The current cryptocurrency crisis reinforces our strategy that securing and diversifying part of your crypto portfolio into real estate is almost a no-brainer,” Edouard Masseau – CEO of the Immo Blockchain Group said.
With the ambition of creating the first French platform for land investments in “Tokens”, IMMO BLOCKCHAIN has already selected many other assets, particularly in the growing market of “co-living”.
According to a recent Xerfi study, the co-living market should almost triple by 2025 to 24,000 units, versus 8,300 places in France at the end of 2021.