SAN JOSE, Calif.--(BUSINESS WIRE)--The advance sale for the first phase of IHT’s ATO project (Resort of Happiness in Bafeng Lake, Karuizawa, Japan) will be available on i-house.com between April 9-25. ATO (Asset Tokenize Offering) aims to convert the income produced by assets into services or products, which will then be offered to the public for their participation in the co-development of real estate. The assets of ATO will be managed by IHT and held by the third party to ensure that the project party can develop and operate the project as scheduled.
Resort of Happiness in Bafeng Lake, Karuizawa has been regarded as the core of tourism development by the government of Karuizawa since 2017. The resort is operated by well-known chief architect Ken Yokogawa and chief interior designer Alan Chan. It’s expected that the resort will open by the end of 2020.
Currently ATO only accepts the investment in the form of legal tenders and tokens. The users can subscribe directly through i-house.com and go through the procedures of KYC and AML designation all while they participate in the ATO project with tokens. If the users participate in the ATO project with legal tenders, the transaction can’t be carried out with tokens, but will be carried out similarly to crowd funding and investment of real estate funds. At this time, ATO only accepts the subscription made by institutional and qualified investors who go through the designation process of KYC and AML accepted by i-house.com.
The ATO project will be offered for sale at the discounted price which is based on service, after the project is completed it can be sold or used on the market at the original price. For example, if you buy a service or product at a discounted price, after the project is completed you can sell/use the service or the product that has been bought at a discount at the original price. The users participating in the ATO project can also enjoy the airdrop reward offered by IHT.
The project has obtained Draper Dragon, the well-known investment fund in the blockchain field (originated from DFJ Dragon Fund and established by Tim Draper who invested in Baidu and Tesla) and won the joint investment from many famous investment institutions including: NEO Global Capital, Blockchain Ventures, Collinstar Capital, Tangle Capital, Badwater Capital and OEX International.
The advance sale of the first ATO project on the platform aims to create a new business model that incorporates blockchain technology and entity industries to facilitate the application service as well as markets/users. In addition to the Japanese project, IHT is in talks with partners from China, Southeast Asia, Australia and the U.S., and anticipates that 15-20 projects will be announced by the end of 2018.
IHT, the world’s first real estate blockchain transaction cloud platform, is a smart contract technology and distributed accounting technology developed for splitting real estate, which utilizes blockchain’s intrinsic advantages such as trustless mechanism, anti-tamper, co-supervision and traceability. To learn more, visit IHTcoin.com, and follow us on Twitter, YouTube, and Facebook.