- March 11, 2019
- Posted by: David Porter
- Category: Blockchain
Jointer.io, a business real estate blockchain startup firm announced its proposal to acquire the seventy-seven story Chrysler Building for an eye-catching 1.5 Billion dollars by adopting a new tokenization model as “missed opportunity.” Jointer.io presented its offer for the iconic New York City landscape on the 25th of February, 2019 while the centralised and privatised offering process is concluded. However, Jointer’s de-centralised technology was rejected.
Jointer’s newly adopted tokenization model is efficiently designed to help property owners unhitch up to a total of their equity share and if the owner opts to stay on as the Principal to undertake and manage the property, they are also highly eligible for the asset management fees plus a 50% dividend from Jointer’s further profits from the property share. This, can boost its ROI significantly. This offer was exclusively made for the current owners of the building, allowing them to view returns on their prior investments. The iconic building of Ney York City’s current owners purchased the skyscraper back in 2008 for a whopping $800 million and hold a 90-per cent stake over its majority ownership.
In the recent days, as dominant organisations have all declared that their plans aim at embracing tokenization, it’s quite a shame that the organizations concerned in the sale of this magnificent Building do not have the anticipation to see the value of the newly adopted tokenization model, as claimed by Jointer’s CEO and estate expert Jude Regev, referring to JPMorgan and Facebook’s recent declarations that they will issue their stablecoins. Regev quotes,” We see this as a blown opportunity for all involved in deciding the fate of this exceptional property.”
The central meaning behind tokenising a building is to provide security tokens to help in representing a source of income or even equity in a property. Even though most people do not know the limitations, and also the liquidity and regulatory laws as well – this model is similar to the old crowdfunding model – only just replacing hard papers with digital notes.
The jointer.io is the first digital tokenisation company in the world to offer property buyers the chance to unbar their equity free of cost and hassle and at the same time allows the citizens to invest in commercial real estate without having any vulnerability to specific assets. David Weild, ex- Vice Chairman, NASDAQ and one of Jointer’s expert advisors, claims that Jointer’s new tokenisation model presents a better answer against the complete disruption of the already crumbling real estate industry.