Website

New York City Real Estate Coin

ICO

Published: Oct 23, 2018

By offering participants an interest in actual buildings, NYC Real Estate Coin uses the blockchain to increase access and transparency to real estate. Participants can enjoy some of the benefits that come with owning real estate, including receiving revenue from the building’s cashflow.

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Overview

Project industry	Real Estate
Product type	Cryptocurrency
Whitepaper	Open

What is New York City Real Estate Coin

The NYC Real Estate Coin team claim that their offering is a Registration S. security token. NYCREC token holders are supposed to get fractional interest in a portfolio of properties in NYC. The NYC Real Estate Coin team will have an Investment Committee who will be making decisions relating to the property acquisition, investment, management, etc. The team aims to purchase stable multifamily commercial real estate (apartments). The NYC Real Estate Coins Collateral Chain will only support issuance of asset-backed tokens. The smart contract functionality will be comparable to NEM and Stellar.

Details

Public sales: Oct 31, 2018 - Dec 28, 2018
Token supply: 1,050,000,000

Legal

Blockchain Platform: Ethereum
Country limitations: United States,
Registration country: Cayman Islands

Token info

Ticker: NYCREC
Type: Security
Token price in USD: 1 NYCREC = 0.2 USD
Accepted currencies: ETH BTC XRP
Bonus program:
Presale Period:
Days 1–15 = 30% = ~$0.14
Days 16–30 = 25% = ~$0.15
Days 31–45 = 20% = ~$0.16
Public Sale Period:
Days 1–11 = 15% = ~$0.17
Days 12–23 = 10% = ~$0.18
Days 24–35 = 5% = ~$0.19
Days 36–45 = 0% = ~$0.20
Token distribution:
60% - Presale / Public Sale
30% - Reserve
5% - Treasury
5% - Team / Founders
Funds allocation:
90% - 95% - Acquisition of Property
5% - 10% - Administrative / Operational / Legal