There is no denying the fact that owning a home is a highly coveted goal among most people. Actually, home ownership is ranked near the same level of accomplishment as marriage or graduation when it comes to life-changing achievements. However, in addition to the intimidating process of home ownership, the current market is not very friendly to buyers. A Netherland’s based crypto startup may just have the solution to this housing crisis and allow more people to own homes.
What Is Walnut Ventures?
There is a major problem with the current house buying process, which requires either a mortgage or cash to purchase a home. Walnut Ventures plans to introduce a brand-new channel for people looking to acquire property, which is through using an ICO. This new channel is not only flexible and cost effective for potential home owners, but also offers security and profits to investors. Furthermore, it is fully legal in Netherlands and could even be applicable across Europe.
Walnut Ventures Token ICO Details
Walnut Ventures starts by first checking that potential home owners are legitimate and able to meet all the lease terms. Once the company creates a correct and thorough client dossier, it moves to plan an initial coin offering. The steps here involve creating a whitepaper to give full insights on property values as well as the qualities of potential lease. Finally, the whitepaper will be used to issue a customized token that will cover the acquisition costs and overall value of the home.
Once the ICO is successful, the Walnut Treasury Foundation issues the tokens and then proceeds to purchase the home. The lessee proceeds to finalize a contract with this Foundation. At this time, the economic house ownership will move towards that lessee, allowing he or she to start using the property immediately. However, the house will still be legally under the control of the Walnut Foundation as backed by the tokens.
The token value for each property will be established at the initial coin offering. The Foundation will also enter the tokens into exchanges as well add interest every month to the token value. Once the lessee buys all the tokens from the foundation, they will finally be given the full legal ownership of the property.
Putting Walnut Ventures To The Test
Walnut Ventures plans to launch their housing product with an outstanding property located in Netherlands. The first client is a professional who works at a local thriving consultancy firm, which shows that the company has already completed all the necessary steps required to identify their client and the value of the property. The house will be offered through an initial token offering, which is supported by the Walnut W156648, an ERC2.0 compatible Ethereum blockchain token.
Walnut Ventures Final Thoughts
With many people having difficulties in owning homes because of circumstances, a housing solution like what Walnut Ventures is offering can offer immense value to many people. Additionally, through using the ITO approach to home ownership, Walnut Ventures will provide a much-needed extra channel for those people who do not have enough funds to qualify for mortgages. This product will be especially beneficial for entrepreneurs who are finding it had to get mortgages as compared to a person who works at a traditional job.