RET or Real Estate Token, a digital token with an underlying real estate asset, is just the first piece of an exciting digital ecosystem that intends to fully utilize the commercial applications potential of Blockchain technology. Meiyingju Group (International) Company Limited (MGI), the Hong Kong-based company issuing the digital asset tokens, is currently working with ACCHAIN and Pencil Blockchain to expand the uses and applications of RET.
The team envisions an ecosystem centered around RET that would allow the circulation of the tokens in a variety of ways: from investment to retail purchases to travel and leisure. This adds another layer of versatility to the secure and less volatile nature of the digital asset. Per MGI, the plan is already in motion as they are already in talks with several international businesses to participate in the first phase of the ecosystem. It was recently announced that the team engaged the services of Collins Barrow Toronto to structure a hybrid digital asset fund for qualified investors looking to benefit from the potential of blockchain commercial applications. Negotiations are also underway for a luxury resort in Maldives which will allow token holders to use their RETs to pay for accommodations. Further expansions to the ecosystem will see token holders using RETs as a mode of payment for goods and services from participating merchants.
The Real Estate Token, now available through ACCHAIN.ORG, is backed by a $655 million residential development project in one of the hottest housing markets in the US, Dallas-Fort Worth. The project called Serene Sendera Ranch is a 2,385-home residential community to be developed by Serene Country Homes, an up-and-coming developer based in Fort Worth, Texas.
MGI’s token offering is exclusively available to all non-US citizens or residents. RET, currently valued at USD1 per token, is now available through an Initial Coin Offering (ICO) on ACCHAIN.ORG. The ICO will run from June 9 – 24. After the ICO, RET can be purchased through ACCHAIN’s supernodes or through digital asset trading platforms.
Name: Royce Ng
Meiyingju Group (International) Company
T: +1 (562) 986-8215