Deedcoin (DEED) ICO Review – ICO Token News
What is Deedcoin?
Deedcoin aims to revolutionizes the real estate industry by creating a blockchain-powered system that will reduce agent commissions from 6% to 1%, thus eliminating the brokerage overhead. To make this possible, the company has issued its virtual currency token known as DEED, which will allow both home sellers and buyers to hire real estate agents and save money on commissions by leveraging the advantage of their platform.
Deedcoin is going to create a sub-economy in real estate that will help in reducing commissions by bringing both customers and agents onto a distributed ledger. It will replace the way you find your next real estate agent. From now on, instead of finding your next agent on Google for 6% commission, you can access the Deedcoin platform. Simply put in your property details, and connect with other local Deedcoin agents for 1% commission.
The Deedcoin’s DEED token allows you to decide the commission or rebate prior to connecting with the Deedcoin agent.
- High commissions of real estate agents.
- Ineffective cost model in real estate.
- Frequent changes in legislation.
- Complicated home transactions.
- Eliminates percentages of profits.
- Tokenizes and brings down real estate commissions from 6% to 1% on the purchase or sale of property.
- Returns control of the real estate marketplace to the buyers and sellers.
- Builds the real estate platform of the future with blockchain technology.
- Redirects the traditional system of commissions.
- Eliminates the need for conventional agents.
How does Deedcoin function?
- It allows property sellers to pay 1% instead of 6% in commissions, retaining 99% of their property sale proceeds using local and licensed real estate agents at a fair price.
- It allows Deedcoin token purchasers to purchase DEED, and uses it to eliminate thousands of dollars in commission costs, starting at USD1.50 per token.
- It reimburses property buyers up to 2% of the value of their new home as a closing cost check or credit.
- It democratizes MLS access and saves costs to complement the technology of today.
DEED ICO token
Deedcoin will be launching 70 million tokens in two varieties, out of which 30 million will be the DEED tokens, while 40 million will be the Deedcoin SAFT (DDS) tokens.
DEED ICO public presale
Deedcoin ICO public presale will start from February 10, 2018 and will end on April 19, 2018.
Features of Deedcoin DEED token
- Deedcoin will initially issue 30 Million DEED (plus bonus) to be sold when the network is fully usable.
- DEED is a utility token that you can use to access Deedcoin’s services on its platform.
- It is the regular Deedcoin token that can be fully used on the Deedcoin network when sold.
- It is limited to no more than 1500 DEED per purchaser.
- It will be priced at USD1.50
Features of Deedcoin SAFT (symbol DDS) token
- The Deedcoin SAFT (DDS) token is the SAFT (Safe Agreement for Future Token) placeholder, which means that it will mark the possession of a future token.
- Initially Deedcoin will be offering 40 Million Deedcoin SAFT (plus bonus) for sale.
- It is released to make the issuance of future DEED simple with a smart contract.
- It is hard coded non-transferable and will be destroyed after replacement with DEED.
- It will work as security for a DEED token complying with the SEC exemptions under Regulation D or CF.
- It will only be available to accredited investors.
- It is simply a placeholder for the SAFT.
- Dissimilar to DEED token, it is not a utility token.
- It is an ERC20 marker token for ownership of a security that will later convert into a utility token.
Deedcoin’s two token types DEED & SAFT (DDS) will account for an eventual 70 million (plus bonuses) DEED tokens which, with bonuses, makes for 70% of all Deedcoins in existence.
The remaining 30% will be allocated as follows:
- 15% for company reserves.
- 15% for founders.
Deedcoin’s mission is to achieve the set target similar to other ICOs. Its soft cap target is to achieve USD10 million. It has broken down its mission into three specific goals:
- In Goal 1, it wants to make an optimal launch with a fixed target to achieve USD30 million.
- In Goal 2, it will make an international launch to 5 countries with an aim to achieve USD50 million.
- In Goal 3, it aims for a Gen 3 MLS creation with a set target of USD15 million.
Deedcoin tokens funding breakdown
- 20% for central network enhancement.
- 7% for legal and compliance.
- 10% for strategic reserve.
- 25% for agent network.
- 30% for marketing.
Some of the core team members of Deedcoin include:
- Matthew Herrick, Co-founder, Director of Product.
- Charles Wismer, Co-founder, Director of Operations.
- Thomas Spangler, Director of Technology.
- Phillip Mrzyglocki, Director of Media.
- Tim Bukher, Compliance Strategy Advisor.
- Mike Blackton, Business Advisor.
- Jorge Cordova, Marketing Advisor.
Ever since Blockchain technology was introduced, every possible industry or sector wants to adopt it, and bring something new to its target audience. Deedcoin is all set to do that by revolutionizing the real estate industry.
Similar to other ICOs, such as Cibus, Amon, Aktie Social, Alttex, THEFANDOME and a lot more, the concept of Deedcoin also looks promising. However, the digital currency world is already awash with many similar websites, providing homebuyers and home sellers with the opportunity to earn. The best thing about this project is that it aims to eliminate the traditional practice of commissions, which is rampant in the real estate market.
It is essential that what it claims is properly implemented and delivered or it will fail like other ICOprojects made a lot of big claims but did nothing to cater to the needs of their target audience.
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