Cryptocurrency Joins Real Estate Through BricksPool
The application of blockchain technology is set to revolutionize most aspects of our industries. Whether it business, health, or real estate, each sector is experiencing blockchain ventures. The mention of real estate and blockchain might be new. However, blockchain technology is already unleashing several experiments all aimed to revolutionize the real estate sector, one way or the other.
One such venture is BricksPool. The Mexico-based firm has the idea to fuse blockchain and real estate investors. The crowdfunding project will back their token (BRICK) with real properties as a new investment formula. With such an idea, cryptocurrency will no longer have the risk option of fluctuations since their backing lacks tangible assets which have value and liquidity.
The Brickspool Background
Bricks Asset Management is the team behind BricksPool. The real estate firm dedicates itself to promoting the real estate industry by creating more modern appeals such as blockchain transactions. As a result, their Brickspool platform will use the blockchain as a bond of trust whereas the financial mechanisms will provide safety and security of the investments.
How BricksPool Works
Apparently, Bricks pool is a sort of crypto-fiber vehicle which deals in crowdfunding through cryptocurrency. The investment is then channeled to commercial property and real estate to be sold later at a profit. The funding of BRICKS is set to accommodate Ethereum as the only mode of exchange.
As it stands, an Ethereum equals to 1,000 BRICK. After the initial funding, all the investments are received by a real estate fund in Ireland. The crypto is then converted into fiat to purchase the properties across the United States.
What Are the Advantages of BricksPool?
Unlike other tokens on the blockchain, BRICK sets itself apart from the rest. For starters, the crypto relies on real estate. These properties can produce income in the form of rent. And with such proceeds, the token can grow with the boom in commercial properties.
Additionally, the Brickspool platform plans to reinvest almost 90% of the profits they get from the real estate. That is a significant sum compared to another crypto which ends up paying a considerable number of people with their earnings. Also, investors will have the chance to purchase more BRICK with their proceeds from the rents.
Is BricksPool BRICK ICO a Good Investment?
Although the Brickpool project is a blockchain innovation, the program is more like an investment fund. In other words, investors might lose their cash if the project is a front for a more significant scam.
Furthermore, the platform is also involving third-party firms that will apparently help in advice and funds management. For any investor, this is a red flag since the companies can decide to fold and get lost.
In addition, the government has warned people on investing on ICOs since they are an investment the government has little control over in case of losses remuneration. All-in-all, Brickspool is an investment I would recommend, and judging from the volatile real-estate markets, it is not convincing that they will prevail in the long run.