REALECOIN™, A NYC Based Company, Introduces The World's First Real Estate Fund For Cryptocurrencies
NEW YORK (PRWEB) December 04, 2017 -- Great news for crypto-currency holders who want to diversify their holdings. NYC-based digital currency startup REALECOIN™ has created the World's first real estate investment fund which will accept cryptocurrencies, along with traditional fiat currencies.
The revolutionary tokenized real estate investment fund will acquire income-generating, institutional quality, multi-family housing units in New York City and other opportunistic US markets which need renovation or redevelopment. The Fund will acquire properties, improve them, refinance its equity investment in these properties, and re-deploy cash into additional properties. The Fund will additionally pay dividends to token holders out of the rental income.
At the heart of REALECOIN™ is its underlying crypto-token, RC™. RC™ is an ERC20-compliant crypto-token which will exist on top of the Ethereum blockchain. The RC™ token is a security token, which means that it is a financial security. Since this token is a financial security, REALECOIN™ emphasizes its adherence to securities laws and regulations in the United States. Accordingly, REALECOIN™ will only sell its tokens to accredited investors.
REALECOIN™ was founded by Ruben Azrak, an experienced NYC-based real estate investor, entrepreneur and angel investor. Additionally, Mr. Azrak formerly co-founded Phat Farm, an urban clothing line, with hip hop legend and entrepreneur Russell Simmons, which they sold for $140 million in 2004. Mr. Azrak has been an active real estate investor since the 1970’s, during which he has amassed an impressive real estate portfolio worth over $200 million, including many properties in New York City. He has invested in over 140 startups, including angel investments in Dropbox, Instacart, Github, Hyperloop One, Brave and Hotel Tonight.
Mr. Azrak says: “We are excited to bring to you the world’s first tokenized real estate investment fund REALECOIN™. We know a lot of people who are holding huge blocks of cryptocurrencies are looking to diversify their holdings into alternative coins and we feel we offer a solution to that problem. REALECOIN™ offers them that much awaited opportunity to multiply their ROIs from bitcoin (or other cryptocurrencies) through its breakthrough real estate investment fund. We believe that the value of RC™ will increase in value, as the underlying real estate appreciates. The US realty sector shows a booming growth at present and there cannot be a better timing for cryptocurrency holders to invest in REALECOIN™.”
Other team members and advisors come from some of the most reputable companies within the World of real estate, technology, cybersecurity and finance. These companies include Microsoft, Intel capital, HSBC, Citigroup, Lending Club, Cushman and Wakefield, Morgan Stanley and American Express. Mr. Azrak states: "Our goal is to provide our company with an institutional quality team to establish the integrity and credibility that the cryptocurrency industry demands at these stages of its nascent growth. Each day we add new team members that add value to Realecoin and will continue to do so in the immediate future as we prepare for our offering in 2018.”
What makes REALECOIN™ different from most other cryptocurrency projects is that it is a tokenized investment fund. Each RC™ token is essentially a share in the investment fund. RC™ is not your regular alt-tokens. While most alternative tokens are positively correlated with Bitcoin’s price movements, the RC™ token derives its value primarily from the income-producing, real world assets that make up the Fund’s investment portfolio. The Fund anticipates paying dividends to token holders.
Each token represents a fractional equity interest in REALECOIN™. The token sale has a hard cap of $50 million and a minimum raise of $5 million. REALECOIN™ will accept funds from accredited investors in one of the following currencies: US Dollars (USD), Euro (EUR), Bitcoin (BTC), Ether (ETH), Ripple (XRP), and Litecoin (LTC). If the Fund fails to raise the minimum of $5 million, the funds would be returned to investors. Mr. Azrak will contribute up 10-20% of his own capital in the form of equity for each investment and also sign for any loans or leverage used on a project by project basis.
Shannon Smith, realecoin, http://realecoin.com, +1 (646) 944-5861, [email protected]
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