Sao Paulo, Brazil, Oct. 27, 2022 (GLOBE NEWSWIRE) — A Brazil-based blockchain and real estate project has recently announced the launch of a real estate tokenization platform – Kodo Assets. Alert to the demands of the real estate market and the development of blockchain technology, Kodo Assets, a real estate tokenization platform – is coming to the market to democratize access to real estate investments, help increase the liquidity of such assets and reduce the barriers to real estate investments. access to this market, be it due to high transaction costs or red tape – announces its first real estate tokenization project in Brazil.
Tokenization allows properties to be broken down into countless small digital parts, which can be sold to many people for a relatively low unit price, thus democratizing access to this type of investment. With tokenization, it is possible to invest more available amounts in exchange for tokens of real estate assets. The real estate token is a low-risk investment compared to stocks or crypto-assets and has a lower entry cost, as the minimum ticket cost for investment is lower compared to the real estate market. The token market operates globally, 24 hours a day, 7 days a week, and it has been estimated that the liquidity of the KODO1 tokens is significantly higher than investing directly in traditional real estate entities.
The first property to be tokenized by Kodo Assets is a commercial property located on Faria Lima Avenue, a prime area of the city of São Paulo, and its total area is 1,144.52 m², with BOMA gross area of 552.58 m², private area of 473 m² and common area of 671.52 m². The entire complex is currently leased by a large multinational company.
The main income expected to come from this property is rent. The annual token profitability expectation is, with all discounts included, 6% until June 2023, and 6%+ annual rental adjustment using IGPM. The resulting after-tax value will be distributed as dividends to KODO1, which will issue tokens representing the inherent rights to the property. To do so, Kodo Assets will take care of the distribution of the income of the owners of each token to their own wallets, taking into account the participation of each individual in this venture. The payment of the proportional profit for the token holders will be made using Stablecoin USDC, the stablecoin that has the highest credibility and transparency in the crypto market. The payment will be made in the same wallet that contains the KODO1 tokens at the moment of distribution.
“The owner of the KODO1 token will be entitled to receive dividends from the rental prices of this property, proportional to his or her participation in tokens versus the total number of tokens issued by the project and any sale of the underlying property, which may generate an interesting sale profit ». – sums up Ciro Iamamura, CEO of Kodo Assets.
The company will issue a total of 25 thousand tokens for this property, each sold for $140.00, in addition to the KYC/AML verification costs, which are $13 for an individual, or $25 for a legal entity. The minimum purchase value is 1 KODO1 token, and there are no limits to how many can be purchased. The total offer value is USD 3,500,000.00. The sales are expected to take place around November 2022.
Through blockchain technology, the idea is that the company can cooperate with this revolution in the real estate sector, so that investors can buy real estate in a fast and safe way, without bureaucracy and high costs in the traditional market, and have access to different markets all over the world.
“We are talking about global access to markets that until now were local, limited by the geographical location of the properties or because they were only accessible to qualified investors. In this sense, the digitization of property can facilitate access to these investments, as they become available to people all over the world . We believe that asset tokenization can be fundamental to revolutionize this market worldwide”, emphasizes Ciro.
The property, located on Faria Lima Avenue, is only the first project of Kodo Assets in Brazil. According to Helena Margarido, advisor for Kodo Assets, there is a growing and reasonable demand for property in São Paulo. “The average price per square meter in the center is around USD 2,613,042. But if we consider some of the sister cities, we can find, for example, Chicago, with an average price of USD 4,137,144, and Lisbon, with an average of USD 5,239,255. Because of this, it is reasonable to believe that the value of real estate in São Paulo is (very) underpriced. In other words, believing in an ever-increasing appreciation of real estate for this city over the next few years is a natural conclusion when we see how important São Paulo is in the world, and average prices in similar cities”.
Kodo Assets Token
To access the Tokens, the investor must go to Kodo Asset’s official website, fill out a personal information form, present documents and go through the facial recognition process. After KYC/AML (know your customer and anti-money laundering) verifications and after the registration is approved, the user can buy as many KODO1 tokens as he or she wants. Payments can be made in USDC, USDT and BUSD, as long as they are made in networks that support EVM. Token transfer will happen as soon as the tokens are available and will be sent to the same wallet that the resources used to pay for the token came from. For KYC/AML reasons, under no circumstances will the token be transferred to a wallet that has not been submitted to the verification process.
The holder of the token has access to all information about it stored in the blockchain and available for request, if necessary. Even if the asset is sold hundreds of times, it is possible to track each transaction and easily find the current owner. This feature provides transparency and reliability to the transactions.
“Using smart contracts makes mediation to negotiate and register tokens useless. In addition to reducing the cost of not needing a third party, the whole process becomes much more flexible and efficient. In this sense, tokenization can increase efficiency and drastically reduce the cost of each transaction, TOKEN strengthening the market as a whole”. says Ciro Iamamura.
For more information and/or participation, please visit Kodo Assets website: www.kodoassets.com and social media channels at:
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About Kodo Assets
Believing that tokenization can solve the biggest problems in the real estate market, Kodo Assets was created. Through tokenization, the aim is to democratize investors’ access to the real estate market, help increase the liquidity of such assets and reduce barriers to access to various markets, whether due to high transaction costs or bureaucracy. The Company’s tokens will be created and distributed under Bahamian law which, given their nature, classifies them as security tokens. In that way, since they are considered securities, the process is subject to an intense and thorough regulatory process. The Kodo token will be issued using a smart contract platform by Polygon and given to holders equal parts of the ownership rights, proportional to how many tokens were purchased. Polygon is used to issue tokens because it is one of the most promising blockchain infrastructures, with a large community of developers, companies and organizations dedicated to strengthening and maturing the technology and its applications.
Disclaimer: There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or other product or service in this article. This is not investment advice. Please do your own research.
MEDIA CONTACT
Name: Ciro Iamamura
Email: [email protected]
Website: www.kodoassets.com
Location: Sao Paulo, Brazil
Company: Kodo Assets
