Looks like we did it. We found a launching customer to prove that an ITO can be used as a way to finance property. And of course, not only property.
So we are going to launch an ITO now. Starting with a presale, a preITO and an ITO. Let me tell you about the ITO specifics later in this article.
First to say, I am proud that we can launch this first Property ITO deal with a beautiful house near Amsterdam. We could do worse I think.
The property is located near Amsterdam in a village called Assendelft. It is nice and quit, ideal to relax after a long day at the office. Within 20 minutes however, you are in Amsterdam. More then 14,000 square meters of ground are surrounding the monumental farm, which was build in 1880 and completely renovated in 1996. I will place some pictures in this article, just to show you how beautiful the property is.
Before I look like a real estate agent to you, let us talk about the ITO. In the ITO we issue the Walnut W156648 token. It has a value of 0.01 ETH. We want to raise an amount of EUR 1,500,000 as counter-value in ETH, so the transaction value and additional costs are covered. You can see the EUR 1,500,000 as the hard cap.
Of course, we created an ITO page on our website. You can find the whitepaper over there. Www.walnut.ventures/Ito
For us, this is just the start. We hope we can be involved in more property transactions, not only for houses, but also for property development or business transactions that will create new living on working environments from a sustainability point of view. I will get into that in a later blog.
I sincerely hope that this first ITO will be a success. For our customer, for us and for proving that ITO’s can be used for transactions like these. Building a steady and solid investor base will be the extra we hope for.
If you are interested, or have questions, please do not hesitate to get in touch. Reach out to us on social media, a comment below or by email.