Crypto Patriot, found online at Crypto-Patriot.io, is the online home of Patriot Mall, a real construction project that aims to share mall profits with token holders. Here’s our review.
What is Crypto Patriot?
Crypto Patriot is a construction project seeking to build a real world mall. The development team is selling crypto tokens in an upcoming ICO. You can purchase tokens during that ICO to fund the construction project. Then, when the mall is built, you’ll receive a portion of all revenues generated by the mall.
It’s a unique project known as Crypto Mall or Patriot Mall. The mall is being built by a Russian development team in the city of Tyumen, Russia.
Construction of the mall has already begun. You can view pictures of the mall under construction at Crypto-Patriot.io.
How Does Patriot Mall Work?
Patriot Mall will consist of physical retail space between 18,000 and 35,000 square meters in size. The mall is located in the city of Tyumen, and it’s already under construction.
A company called Ramtex is spearheading construction of the mall. That company will also organize tenants in the mall once it’s complete.
The main idea of the mall is to build it around the first floor and an anchor tenant. The company, Ramtex, already has a written agreement with the agricultural society of the region to provide a farmer’s market on the first floor. That market will generate foot traffic in the mall because of strong local demand for natural, locally-produced goods.
According to the Patriot Mall whitepaper, the company already has written agreements with potential tenants for most of the rent-suitable areas. To complete construction, they need 9,450 ETH.
Construction of the mall is scheduled to take 12 months. The owner of Ramtex has already invested $5 million into the construction project. The foundations of the mall can be found at the corner of Shirotnya and Borovskaya streets in Tyumen, a city in central Russia.
To raise that ETH, the company is hosting a token sale. You can purchase PPMT tokens during that token sale. As a PPMT token holder, you’re entitled to 35% of profits generated by 0.01 square meters of rentable area within the mall. The more tokens you own, the larger your profits will be – assuming the mall gets completed and becomes profitable.
The average rent payment is expected to be $34.5 USD per meter squared.
The Patriot Mall Token Sale
The ICO for Patriot Mall began on January 9, 2018. PPMT tokens are being sold at a rate of 1 ETH = 140 PPMT. The token sale is scheduled to last 30 days.
Each token represents 0.01m2 in the mall. In other words, if you hold one token, you’ll get the equivalent of one square meter of space in that mall – including the revenues generated by that one square meter.
When the mall is complete, there will be a total rentable space of between 18,000 and 35,000 square meters. 35% of generated profit from mall rental payments will be distributed to token holders.
The PPMT coins are ERC20 tokens built on the Ethereum blockchain. There’s a total supply of 1.8 million tokens. 99.5% of tokens (1.791 million) are being sold during the crowdsale. The remaining tokens are reserved for bounties (0.5% or 9,000 PPMT) and for a pre-sale (13% or 240,000).
The company has two funding targets for its token sale: one for “Patriot Base” and the other for “Patriot Peak”. Under Patriot Base (9450 ETH), the fundamentals of the mall will be completed. Under Patriot Peak (11,140 ETH), extra goals will be covered – like an aggressive marketing campaign, the creation of a reserve fund, and the launch of city-wide shuttles to bring people to the mall.
Who’s Behind Patriot Mall?
Patriot Mall’s development is led by founder and CEO Vladimir Zinovyev. Other key members of the team include Andrey Gorbach (CEO of Prestige Capital) and Jurijs Degtjarevs (COO Prestige Capital).
The mall’s development is being led by a limited liability company called Ramtex.
Patriot Crypto Mall PPMY ICO Conclusion
Patriot Mall, or Crypto Mall, is a unique project out of Russia. The company has already invested $5 million into building a mall in the city of Tyumen, in central Russia. To complete construction of the mall, that company is seeking to raise funds through a token sale. Each token holder is entitled to a share of the profits once the mall is completed and has tenants. Each PPMT token entitles you to receive 35% of profits generated by the mall’s rental income. The mall is scheduled to be completed within 12 months.
To learn more about the Patriot Mall project, visit online today at Crypto-Patriot.io.