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TNcoin (TNC) ICO Review – ICO Token News

Introduction

TNCoin is a Tokenized Modern Real Estate Investment Fund . The Fund seeks to acquire income-producing, institutional-quality multi-family cash flowing housing units. The Fund plans to buy properties in the United States.  TNcoin is a commercial venture, not a philosophical attempt to create a new monetary paradigm.  TNCoin is a savings platform backed by a non-inflationary asset, commercial debt-free real estate, to deliver stable capital preservation. As a cryptocurrency, it enables savers to convert their money to and from TNcoin tokens using the full security and convenience of blockchain  technology.

The Fund believes that the value of its underlying token, will increase in value as the value of its real estate holdings grows. Further, the Fund believes that people and institutions who hold large blocks of bitcoin, ether or other cryptocurrencies are looking to diversify their holdings into alternative coins. These alternative coins, often abbreviated to ‘alt-coins,’ are highly correlated with bitcoin’s and ether’s price movements. Additionally, TNCoin will allow holders of fiat currency to buy tokens during its Private Sale and its presale. The token is an ERC-20 compliant crypto-token that will exist atop the Ethereum blockchain. The Fund considers its ICO token to be a security token, meaning it is a financial security. The Fund therefore anticipates being subject to securities laws in the United States. Additionally, the Fund will only sell the tokens to accredited investors. During the pre-sale, tokens can be bought with fiat currencies, including USD, Euro, British Pounds, Yen, or Won.

Why Blockchain and Cryptocurrencies Technologies

TNCoin differentiates itself from other cryptocurrency projects by being a tokenized investment fund. This means that each token is analogous to a share in an investment fund. A natural question that arises is why the Fund would use cryptocurrencies at all, given that traditional share-based investment funds have been around for decades, and are well understood. For example, the law allowing the formation of Real Estate Investment Trusts (REITs) was passed by Congress back in 1960. There are a large number of people who own significant amounts of Bitcoin or Ethereum or both, who are looking to diversify their holdings, without converting to fiat assets. TNCoin provides holders of large amounts of cryptocurrencies the opportunity to buy into a real estate investment fund, the value of whose cryptocurrency will be derived in large part by the performance of the real estate. In other words, the TN token will derive its value primarily from real assets in the physical world that generate income and which increase in value over time. To know current trend of ICOs, you can check ICO stats.

Tokenization of traditional assets (including real estate) is coming, and TNCoin is merely one of the first investment funds to tokenize itself. Real estate tokenization is happening around the world. The blockchain will enable real estate assets to be tokenized and traded similarly to Bitcoin. Property titles and ownership histories will be recorded on the blockchain, and the value of a property will be represented on the blockchain by a token. Blockchain will allow commercial buildings to have a digital address that contains information regarding occupancy, physical characteristics, legal status, historical performance, and financial position. As commercial property information continues to disseminate across the globe, brokers will lose their information asymmetry advantage. The data will be available online and relatable across submarkets and property types. When it becomes easier for investors to gather information on potential acquisitions, it will be easier to price buildings without investment brokers.

Real Estate Investments

TNCoin will invest in multi-family housing in Tennessee and surrounding areas. These assets are income producing, institutional-quality real estate that need renovation or redevelopment. The Fund will improve the real estate, refinance the equity, and reinvest the proceeds into additional properties. The Fund has already identified its first property, a 68 unit apartment complex located at 1601-1603 Herman Street. The property was appraised by McGuigan & Associates for $16,070,000.

Economic Overview

As the “home of country music”, Nashville has become a major music recording and production center. Almost all of the national record labels, as well as numerous independent labels, have offices in Nashville, mostly in the Music Row area. Since the 1960s, Nashville has been the second biggest music production center (after New York) in the U.S. As of 2010, Nashville’s music industry is estimated to have a total economic impact of $10 billion a year and to contribute 56,000 jobs to the Nashville area. Although Nashville is renowned as a music recording center and tourist destination, its largest industry is actually health care. Nashville is home to more than 250 healthcare companies, including Hospital Corporation of America, the largest operator of hospitals in the world. As of 2010, it is estimated that the healthcare industry contributes $30 billion a year and 210,000 jobs to the Nashville-area economy. The automotive industry is also becoming increasingly important for the entire Middle Tennessee region.

Nissan North America moved its corporate headquarters in 2006 from Gardena, California (Los Angeles County) to establish a permanent headquarters in the Nashville suburb of Franklin, Tennessee. Nissan also has its largest North American manufacturing plant in Smyrna, Tennessee, a Nashville suburb. Bridgestone North America is building a 30 story office tower in SoBro Nashville to consolidate its operations. It will employ 600 people at this new headquarters.

Token

TN tokens will have an initial value of 1 TN to 1 USD. The number of tokens created will equal the dollar amount raised, rounded down to the nearest whole dollar. If $20 million in capital is raised, then 20 million tokens will be created. Tokens are divisible into 0.1, 0.01, and 0.001 TN. Tokens are divisible into subunits solely for investors’ convenience. The Fund may periodically buy tokens on the open market and burn them. “To burn” tokens means to permanently destroy them, and so reduce the supply of tokens outstanding. This is conceptually equivalent to a stock buyback in a conventional company. Management intends to receive a 10% management fee or stake in fund, while distributing the other 90% to token holders. Management will also receive 10% of total revenue generated at initial coin offering to cover all incurred cost and expenses. Check ICO list to know more about ICOs.

Team

  • Luis A. del Mazo, Jr.
    Luis A. del Mazo, Jr.
    Luis A. del Mazo, Jr.
    Graduated from ITT Technical Institute salutatorian of his class in 2012. Luis also
    holds and Associate of Arts in Computer Aided drafting and design. Luis started his career in mortgage
    finance in 1996. In 1998 Luis became a licensed Realtor with Remax. From 1998-2008 Luis remained in
    Remax’s elite 100% Club as one of Remax’s top producers with hundreds of residential and commercial
    sales transactions.
  • Tanya Rodriguez​,
    Tanya Rodriguez​,
    Tanya Rodriguez​,
    Started out working for Colliers Turley Martin Tucker in Nashville as a receptionist in
    the mid 90’s and while working there she found she loved the real estate business and immediately
    acquired her license in 1998. She wanted to learn the full scope of the real estate business so she also
    learned about mortgage loans and applied and passed her property and casualty exams and became
    fully licensed.

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