Monaco Estate is the new blockchain startup to offer the first cryptocurrency-backed real estate rentals
Blockchain startup Monaco Estate is launching the first cryptocurrency real estate investment fund. The startup that will be offering cryptocurrency-backed real estate rentals in Monaco, accepting rental payments in the form of Ethereum, Bitcoin, and Euros; making it the only rental service in Monaco accepting cryptocurrency. The startup focuses on high end apartment rentals in Monaco and utilizes blockchain smart contracts to allow token holders to receive a monthly profit share via Ethereum payments. The company is looking to raise up to 50,000 ETH with their Monaco Estate (MEST) tokens which will be backed by real-world assets and have the benefit of offering token holders a share of the company profits every month. The pre-sale is scheduled to begin on May 1, 2018.
According to the company, “implementing Ethereum smart contracts on the blockchain, enables the company profits to be transparent, quick and evenly distributed among investors via Ethereum payouts each month. Using these monthly rental gains 60 percent will be shared via ETH to token holders, the future following 40 percent will be reinvested and be held as a reserve fund.”
To aid in company transparency and investor security the directors and shareholders will not be able to take money from the company profits, and this will be evenly distributed via Monaco Estate’s native token MEST. So far, cryptocurrency investments have been highly volatile and unpredictable. Real estate equates to over 60 percent of the world’s mainstream assets and is seen to be one of the most secure investments.
Backing the Monaco Estate token with some of the world’s most premium real estate assets ensures a solid return via capital growth and rental profits. This will bring to the market a less volatile cryptocurrency that can act as a longer-term investment opportunity for any cryptocurrency investors and much-needed portfolio diversification. The startup also plans to reinvest 40 percent of its investment to ensure compounding and continuous growth over the years to come, promising the opportunity for higher future returns and profit shares in the future.
Use of ICO Funds:
- 84 percent Real Estate Capital
- 10 percent Administration and Legal
- 1 percent Smart Contract Development
- 5 percent Reserve Fund
With the growing trend for global ICO regulations, the Monaco Estate ICO is ensuring it complies with Know Your Customer and Anti-Money Laundering regulations to ensure a smooth transition to fiat post-ICO.
Why Monaco Estate?
Monaco has the highest density of millionaires in the world, making it one of the most sought-after real estate investment opportunities. The tax system in Monaco ensures higher profits are retained and that rentals are secure for more extended periods of time. MEST token holders will also benefit from priority rentals and discounted holiday lets in any of the apartment rentals owned by Monaco estate.
Monaco Estate is founded by serial entrepreneur and high end real estate investor, Daniel and Charlotte Golding. Daniel is a serial entrepreneur and high end real estate investor. He originally worked as a web application developer specializing in advanced API system. Daniel made his first million in his mid twenties through developing his own private automated marketing platform. Daniel has since become involved with several companies and owns multiple real estate rentals. He now focuses his time on growing his investment and multi-million real estate portfolio. Before co-founding Monaco Estate, Charlotte was an accounting and tax advisor. She has a Bachelor of Mathematics degree with honors. Charlotte has been involved with accounting for several years and worked with many high end UK companies. In recent years Charlotte has gone on to specialise in global wealth management and tax advisory for multiple high net worth individuals. She has extensive experience helping clients with Swiss and Monaco taxation, company formation & accounts and real estate.