Patriot Mall: When Real Estate Meets Cryptocurrency Investments
Learn how a Russian crypto developer is heralding a pioneering local project.
Many exciting new blockchain projects are surfacing throughout the world, due to this market gaining momentum on a global scale.
Russian developer Crypto Patriot, for instance, is collecting funds to build “Patriot Mall,” a trade and entertainment mall in Tyumen.
This endeavor is especially unique because it is not purely digital, but it relates to developments in the physical work, spanning different industries such as real estate, commerce and more.
The Crypto Patriot team plans to construct the aforementioned mall with the help of investors, who would fund the project by acquiring PPMT tokens and touch dividends from the lease of shopping space or by selling their tokens on crypto exchanges.
Patriot Mall will become the first project of its kind in the Eastern Administrative District of Tyumen, which has never had a trading facility hosting shops of different sectors. For this reason, the team is confident that the project will draw a notable fraction of buyers, as well as leaseholders.
The physical space the mall will occupy amounts to 35,194.3 square meters. The project creators concluded partnerships with most potential leaseholders. The ground floor of the mall building will host a farmers’ market, and the organizers have signed an agreement with local agricultural companies. The company sponsoring the project has already invested $5 million, but to finish the construction works, it plans to issue internal tokens and use the ICO to collect 9,450 ETH tokens. The founders of the project aim for the mall to become functional a year after raising the necessary funds. As for the first dividends, investors will be able to receive them as early as three months following the inauguration of the shopping mall.
The most vital component of the Crypto Patriot initiative is the introduction of the Patriot Project Mall Tokens (PPMT). These tokens will be linked to the total leasable area of the mall: every PPMT will amount to 0.01 square meters. Token holders will retain the rights to their allotted part of the leasable area and will receive dividends from the lease.
The originators of the project assert that the investment model is hybrid, being a blend of stock investment and real estate financing).
The tokens will be dispensed one time only, through the Ethereum cryptocurrency platform, with a total of 1,5 mln tokens.
99.5% of such tokens will be distributed during the crowdfunding process, while 0.5% will serve bounty programs. A single Ethereum token will be exchangeable for 140 PPMT, with a system of bonuses related to the acquisition of tokens in place since the pre-sale, which started on December 15th, 2017.
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