Polymesh
One Hope of Colorado Becomes the First-Ever to Tokenize a Church
Creating Opportunities to Acquire Historic Landmark Church, Build Community and Support its Mission
Real World Asset Tokenization Completed on REtokens Platform via Polymesh
August 19, 2024 09:00 AM Eastern Daylight Time
ZUG, Switzerland--(BUSINESS WIRE)--REtokens, the company tokenizing real estate assets to transform traditional property investment by unlocking liquidity and broadening access to a global pool of investors, today announced it has collaborated with One Hope of Colorado to tokenize an historic church based in Fort Collins, CO, USA using the Polymesh blockchain.
“REtokens is built on the perfect layer one blockchain, Polymesh, which simplifies the tokenization process, reduces counterparty risk and facilitates better compliance and security.”
One Hope is dedicated to building a region-wide network of churches and faith organizations to increase unity, strength, ministry and fellowship. Presently, One Hope rents a historic landmark building known as Old Stone Church (OSC), the oldest church in downtown Fort Collins built in 1897.
Through Real World Asset tokenization and selling shares to the community, One Hope intends to build a new model for community investment that can be replicated in other communities. The goal is to raise sufficient funds to purchase OSC within three years. This innovative project is dedicated to preserving the notable church building and strengthening the surrounding downtown area.
Blake Bush, Pastor of One Hope of Colorado, is working with an expert group of real estate and securities professionals. One Hope intends to raise $2.5M in its first year as part of an initial phase to accredited investors. The accredited investors will hold it for one year and then sell to the secondary market, comprised mostly of residents in Colorado.
A pastor for over 34 years, Blake embraces technological innovation and sees a future where tokenization will change how communities interact with and own foundational real world assets, such as real estate. “The idea of tokenizing the Old Stone Church building to allow for community-aided ownership and preservation came into my heart when I started learning about blockchain technology,” said Pastor Blake. “After a deep dive and speaking with experts in finance, government, and real estate, I’ve realized this transformative technology is indeed the future. It’s a great way to crowdfund compliantly and is reproducible for other communities, who may have a historic building they want to preserve,” he added.
“We are thrilled to be working with Pastor Blake and the One Hope ministry to enable further community investment in Fort Collins, which has a robust, historic downtown filled with a vibrant art, culture and business district,” said Tyler Vinson, CEO, REtokens.
“REtokens is built on the perfect layer one blockchain, Polymesh, which simplifies the tokenization process, reduces counterparty risk and facilitates better compliance and security.”
“Real Estate is undergoing a transformation for community investment through Real World Asset tokenization,” said Graeme Moore, Head of Tokenization, Polymesh Association. “One Hope of Colorado, as the first-ever tokenized church, is a great example of unlocking liquidity and fostering collaborative ownership.”
REtokens’ innovative approach to real estate investment enables asset owners and syndicators to fractionalize ownership into digital shares, increasing investment accessibility and facilitating faster, more transparent transactions. Tokenization also paves the way for more assets to be traded on secondary marketplaces, enhancing liquidity for investors and enabling easier entry and exit. As the real estate market evolves, embracing tokenization not only maximizes asset value but also positions assets to capitalize on future growth opportunities in a digitized economy.
In searching for a blockchain, REtokens chose Polymesh due to its features and specificity. Tokens can be configured at the blockchain layer, simplifying the tokenization process and eliminating the need to integrate complex and expensive third-party smart contracts. Additionally, Polymesh is a public permissioned blockchain, with regulated node operators and a settlement engine that reduces counterparty risk, facilitates better compliance, and prevents participation of restricted or sanctioned parties.
About Polymesh Association
The Polymesh Association is a not-for-profit dedicated to the growth of the Polymesh ecosystem through Polymesh and Polymesh Private. Polymesh is a leading public permissioned blockchain purpose-built for real world assets that streamlines capital markets and opens the door to new financial products. Polymesh Private is a private permissioned instance of Polymesh that can be deployed by enterprises. Visit polymesh.network to learn more
About REtokens
REtokens is a full-service real estate tokenization and digital strategy company. In Q1 2024, REtokens launched its proprietary software platform, guiding real estate sponsors from strategic planning and asset tokenization to liquidity pathways for sponsors and investors. With decades of real estate investment experience, REtokens offers a user experience tailored to real estate investors, addressing the limitations of traditional real estate liquidity. Visit REtokens.com to learn more