June 06, 2022 07:00 ET | Source: Foundation Foundation
Miami,
Miami, June 06, 2022 (GLOBE NEWSWIRE) —
Foundation is the world’s first NFT real estate investment project. The early investors compose the Founders Club, an elite group of innovators eager to combine blockchain technology with premium property development. These original minters’ investments will form a real estate investment pool to fund exquisite new properties in South Florida.
The project includes 7,777 NFTs, which are projected to raise $7,000,000. Each transaction takes place on the Ethereum blockchain with a corresponding digital asset in a virtual neighborhood. Once minted, the funds will be deposited into a builders’ wallet to acquire and develop the luxury real estate. The proceeds will be converted from Eth to USD to avoid market price volatility. Then, real estate development will begin.
Marc Julien, an esteemed South Florida real estate developer, will connect investors with optimal land opportunities in the hottest South Florida markets. Marc will use his vast experience to get the best price for the lot. Once the purchase is complete, construction of the luxury residence can start.
Foundation’s primary objective is for the initial Founders Club mint to fund the construction of two luxury homes. The Foundation estimates the initial projects to cost $1 million for the land and $2 million for construction. The budget to finalize and deliver the home will be $3M per home.
Once the homes are built (approximately 18 months from conception to delivery), they will be placed on the market and sold. Market trends will determine the selling price. The estimated sale price is between $4 million and $4.5 million. Resulting in $1-1.5 million in net profit.
After the property sells, 15% of the profit will be added to the builders’ wallet, which will reinvest the funds into future builds and NFT holders’ benefits. All membership benefits and party locations will be voted on by the community and may include:
The investment capital used to build the home will be reinvested into the next project as each home sells. Foundation’s goal is to make and sell one multi-million-dollar luxury home every year. As the community grows, multiple homes will be built yearly with no cap on the scalability of creating more. The goal is to become the leading luxury home building group globally.
Meanwhile, the NFT holders’ fund will continue to grow, and membership benefits will become more exclusive as profits are reinvested, and more projects are released. The builders’ wallet connects to the powerful Web3 real estate platform, which will be open to other investors and list the completed properties for sale.
The $Foundation token will grow in holders and therefore value, yielding immense returns to the early-round founders for their NFTs and crypto-assets. This unique NFT-powered real estate investing club stands to disrupt the industry, empowering sustainable property development and unlocking new opportunities for tech investors and property developers alike.
For more information on joining this ground-breaking NFT project, visit Website | Twitter | Discord.
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