The first phase of the project will entail acquiring property. The group is going to buy property and operate these properties to generate an income. These properties will include offices, apartment buildings, condominiums, shopping centers, and warehouses. While the team has set its eyes on a wide range of properties, it will first focus on the residential real estate. They believe this is the best foundation for the Sound Money Cryptocurrency.
Praetorian Group PAX ICO Details
In this initial phase, The Praetorian Group will also conduct an ICO of 200 million PAX tokens. The crowdfunding initiative is going to be led by Tokenlab. The crowdfunding, the group will work to ensure that the coin is listed on various exchanges such as Bittrex, Binance, DEX, Liqui, and Poloniex. While the group intends to be listed on all exchanges, they will work at the pace of each exchange.
The Issues Praetorian Group Intends To Solve
In the past, there have been other small companies, which have attempted to create a token backed by real estate. However, these companies have made the mistake of trying to compete with giants such as ethereum and bitcoin. Praetorian is not going to opt for this approach. Instead, it will utilize the ethereum smart contract to conduct the token sale and to allow the tracking of token ownership.
How Praetorian Crypto Real Estate Coin Will Proceed
After the ICO is over, the group is going to convert the crypto collected at the ICO into fiat. However, this conversion will be done on a deal by deal basis so as not to affect the prices of ethereum, bitcoin, and any other crypto accepted at the token sale. The corporation is going to invest funds in some of the poorest neighborhoods in areas such as in New York State.
This will lead to the creation for the first time not by a central bank or the IMF but money on the blockchain to secure assets and wealth for the people. The infusion of money into poor areas will change lives. A central force does not control the group, and it does not have a political agenda. It seeks to ensure that for the first time in history, a free market economy and Laissez Faire Capitalism will thrive.
This PAX token is going to be accessible to anyone globally. It will make it possible to convert your crypto holdings into real estate, which will be secured by PAX. The Praetorian will be a self-sufficient entity that does not rely on banks or mortgage companies to purchase holdings.
However, if they wish to leverage their holding more, they may seek traditional lending to enhance their reach and ensure their crypto holdings go further. Besides that, the PAX token is going to act as a secure and profitable alternative to traditional investment. The holders of the PAX token will have the right to net profits of the real estate. This will be calculated based on the percentage of holdings of PAX. However, it is worth noting that holding PAX is not equivalent to holding equity in the group.