SHARE

XRED Enters Week 2 of its ICO, Announces First Development Project


As UK-based X Real Estate Development (XRED) enters into the second week of its ICO, community interest continues to build amid the announcement of their first proposed development project.

[Note: This is a sponsored article.]


What is XRED?

XRED is the first cryptocurrency fund to focus specifically on real estate development and investment. Their unique investment platform, which is built on the Ethereum blockchain, utilizes asset tokenization to convert the rights to a physical asset (in this case, real estate) into a digital token. This allows people to invest in real estate properties and realize profits based on the share of a property’s tokens they own.

Here’s an example:

The XRED Fund purchases a commercial property for £2,250,000 and the total cost to renovate the property and sell it on the market is an additional £750,000. The total amount of money the Fund outlays is £3,000,000.

Now let’s say that the property sells for £4,250,000. Deducting the Fund’s total cost outlay, that leaves a total profit of £1,250,000. The investors’ total share of profits is 75%, which is equal to £937,500. Since each individual investor’s dividends are based on the percentage of a property’s tokens they own.

For instance, an investor who purchased just 1% of the property’s tokens would receive £9,375 in dividends from the sale. Someone who owned 5% would receive £46,875, and so forth and so on.

What makes XRED so different – and so exciting – is that not only are they opening up real estate investing to people who otherwise might not be able to do so but that they are also developing all of the properties as well. XRED are laying out their own funds to purchase, renovate, and sell the properties, so it is in their best interest – not to mention that of their investors – to make the project successful.

XRED Eyes Its First Development Project

XRED isn’t waiting until their ICO ends to get to work on behalf of their investors. They have already identified and drawn up a preliminary proposal for the fund’s first development project, and it looks to be a very promising freshman venture.

The property in question is located at Eardley Crescent, in Earls Court, London SW5. Originally a doctor’s surgery, XRED proposes to convert the property into a high-end boutique hotel that they will then sell on the open market.

The Cryptocurrency News Group XRED Enters Week 2 of its ICO, Announces First Development Project

What makes this particular location so ideal is that it right next to a gorgeous new development that was once the Earls Court Exhibition Centre. The new development will include 8,000 residential homes, retail outlets, and a brand-new convention center. As a result, the prices of commercial property in that location are going to climb significantly, as will the demand for high-end boutique hotel accommodations.

Estimated to take ten months to complete from start to finish, the development project stands to give a great return in dividends to XRED investors, as shown in the table below:

The Cryptocurrency News Group XRED Enters Week 2 of its ICO, Announces First Development Project

And since 75% of the XRED Fund’s profits are shared among investors, that means that the dividends returned to investors from this one project could exceed £750,000, or $1,000,000 USD.

XRED Token Sale Information

XRED’s ICO officially launched on November 1, 2017, and it will run through December 15, 2017, or until the hard cap of $55.9 million is reached. The total XRED token supply is 65 million, of which 86% is earmarked for the ICO and the pre-sale, which was successfully completed last month. The distribution of the total token supply is shown below:

  • 86% for purchase during pre-sale and ICO
  • 12% purchased by the XRED fund
  • 2% for the XRED incentive campaign

The Cryptocurrency News Group XRED Enters Week 2 of its ICO, Announces First Development Project

The exchange rate for the ICO is 1 XRED token = $1 USD. Investors can purchase tokens with ETH only, however, Bitcoin and Litecoin can be exchanged for ETH within the ICO’s built-in wallet using Shapeshift.

Early investors will be rewarded with generous scaling bonus tokens:

  • 1st week: + 25% of bonus tokens
  • 2nd week: + 20% of bonus tokens
  • 3nd week: + 15% of bonus tokens
  • 4rd week: + 10% of bonus tokens
  • 5th week: + 5% of bonus tokens
  • 6th week: 0% of bonus tokens

For more information about the XRED platform or the ICO please visit the official website and download the project whitepaper. You can also keep in touch with the team on Facebook, Twitter, Slack, and Telegram.

What do you think of XRED’s first development project? How will their platform change how people invest in real estate? Let us know in the comments below.


Images courtesy of XRED

The post XRED Enters Week 2 of its ICO, Announces First Development Project appeared first on Bitcoinist.com.