The global PropTech startup has announced that it will commence the pre-sale and then public sale of a new Security Token (LOC). Founder & CEO Marc C. Riebe commented on the announcement at the Blockchain Summit in Zug today. "We are excited to announce and confirm timings for our Initial Token Offering (ITO) - the first of its kind in the PropTech world. It will ensure we are sufficiently invested to grow our platform and leverage blockchain technology - reducing the delays and mistakes that frustrate the real estate market today."
eLocations announced its Initial Token Offering (ITO) today, which is conceived to create a new token economy and attract funds to be reinvested into the eLocations platform. The global platform holds details of stores in over 500 cities worldwide and simplifies rental, management and buying decisions by linking existing data and providing relevant analytics. The technology will help all parties to make faster, smarter and more trusted decisions, supported by the infinite potential of blockchain technology. As a result, eLocations will also revolutionize lease contract management for retailers by converting paper-based contracts into self-executable Smart-Contracts on the Blockchain.
The Founders are confident that the value of the Security Token will appreciate over time, based on its growing acceptance by customers as well as the firm's increased sales activities. This will result in higher revenues, profits and cash flows which in turn will lead to a higher token demand and increased trading activities.
What are the timings and key events?
The public sale of the Security Token will take place after a successful Pre-sale in Summer 2018. Early purchasers will be rewarded with a bonus of up to 30 percent off the actual sales price. The same applies to those who purchase large sums: eLocations plans to reward them with individually negotiated discounts. The company also recognizes the investor's desire to share in its success, and therefore up to 20 percent of eLocations' future net income will be distributed to all Security Token holders.
Once eLocations' service platform is fully operational, the company will then go on to launch a Utility Token. The Utility Token (LocationToken, LCN) will allow the holder to purchase services premium listings, street maps, rent comparisons, ?oracle? data etc. Ultimately, even properties themselves can be leased, bought and sold using the LocationToken.
When the Utility Token is launched, holders of Security Tokens can exchange them against the Utility Token at a price discounted by 20%. eLocations' investors thereby lower the risk of their investment, as they will always retain an option to 'use' their tokens and benefit from the portfolio of eLocations services.
The Zug-HQ'd business will be attending over 20 PropTech events over the next four months as part of its investor-ITO roadshow - including Amsterdam, Paris, New York, Los Angeles, Chicago, Shanghai, Hong Kong, Jerusalem, Sydney and London.
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